Valuation and the Consequences of Multiple Sources of Environmental Deterioration: the Case of the New York Striped Bass Fishery

This paper examines two sources of environmental degradation in the New York striped bass fishery. The first is the decline in environmental quality in the Chesapeake Bay, the spawning ground for the majority of fish in New York waters. The second is the PCB contamination of striped bass from the Hudson River, the other primary spawning ground for striped bass in New York waters. The paper develops methodologies for examining loss in economic value, when the loss stems from two sources. The estimates resulting from the application of these methodologies suggest that the general deterioration of the Chesapeake Bay generated 2·3 to 7·7 million dollars in annual losses to the New York striped bass fishery, and that the annual losses from PCB contamination of the Hudson striped bass are between 0·745 and 3·7 million dollars. The paper also discusses how the dual sources of degradation generate barriers to the formation of effective management policy, and develops policy recommendations based on the estimated losses.