Economic valuation of the impact on the Gulf of Mexico ecosystems: The deepwater horizon case

Abstract

The value of nature does not escape the interests of those who cannot conceive the limits of such an important and vital element. The valuation on nature is developed to generate a reference and take actions accordingly. In this regard, the Contingent Valuation method is the most commonly referred to, but it involves the design of a structured survey in which the main question is whether there is a willingness to accept an amount of money in compensation (DAC) for the loss of an eco-friendly good or service. systemic or willingness to pay an amount of money to keep it (DAP). One or the other is defined without having a single referent and has been taken as a synonym of the total economic value. For this case, the problem of justifying the output value (DAP) was raised. The objective was to develop a methodology that based on data on household income and expenditure (ENIGH) in Mexico and applying a percentage to the expenditure per month, provided a basis for calculating that amount. The resulting methodology was accepted in the Valuation of goods and services provided by the Gulf of Mexico, after the Deepwater Horizon accident.