Veritas Economic Consulting

Cary, NC, United States

Veritas Economic Consulting

Cary, NC, United States
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Neenan B.,EPRI | Kinnell J.C.,Veritas Economic Consulting | Bingham M.,Veritas Economic Consulting | Hickman S.,Veritas Economic Consulting
Electricity Journal | Year: 2016

For a ‘discrete choice experiment’ to gauge consumer preferences for alternative electric service plans, surveys were administered to over 1000 residences in 12 electricity markets. The resulting estimated choice function parameters provide insights into the importance consumers place on individual features. Several demographic effects were identified that associate preferences with customers, providing powerful and actionable market segmentation tools. © 2016 Elsevier Inc.

Deason J.P.,George Washington University | Dickey G.E.,Loyola College in Maryland | Kinnell J.C.,Veritas Economic Consulting | Shabman L.A.,Resources for the Future
Journal of Water Resources Planning and Management | Year: 2010

In 2002, 2005, and 2006, the U.S. Environmental Protection Agency (EPA) and the Department of the Army entered into memoranda of understanding to implement the Urban Rivers Restoration Initiative (URRI). The URRI is a collaborative process where numerous agencies and stakeholders having different values, interests, and responsibilities come together to agree on actions to restore urban rivers. Much of the literature on collaborative planning addresses topics such as appropriate stakeholder representation, and securing and facilitating participation in planning over time. Less attention is paid to another key to successful collaborative planning processes: utilization of a common planning framework. A common planning framework will help collaborators to develop a shared understanding of the factual basis needed to define the nature and scope of problems and the merits of possible solutions. This paper identifies how the analytical frameworks of the principal URRI participating agencies (U.S. Army Corps of Engineers and EPA) can be integrated to serve the goals of the URRI in ways that highlight incremental effects on costs and benefits from choosing among alternative plans and presented in a manner enabling collaborators to compare the benefits from different combinations and permutations of all the potential measures for given budgets. The conclusion discusses the contribution of the integrated planning framework to building consensus among federal agencies, nonfederal agencies, and other stakeholders on a URRI implementation plan. © 2010 ASCE.

Barnthouse L.W.,LWB Environmental Services Inc. | Bingham M.,Veritas Economic Consulting | Kinnell J.,Veritas Economic Consulting
Environmental Science and Policy | Year: 2016

Monetizing ecological benefits of reducing impingement and entrainment (I&E) at cooling water intake structures presents both ecological and economic challenges. Ecological challenges arise because it is difficult to demonstrate and measure these impacts. Economic challenges arise because of these ecological uncertainties and because many of the potentially affected ecosystem services cannot be valued using traditional methods. Under a recently promulgated U.S. regulation certain power generation and industrial water permit applicants may be required to monetize these "nonuse" benefits. However, stated preference (SP) surveys, the only method available for valuing nonuse services have not seen acceptance by mainstream economists. This paper describes an approach to valuation that incorporates the ecological service function approach advocated by the USEPA Science Advisory Board to characterize impacts. Data and models are used to quantify, to the extent possible, direct and indirect impacts of I&E on ecosystem services. Nonuse values are then estimated by an SP survey that measures respondents' willingness to pay for reducing I&E. Methods are proposed for calibrating and validating results including identifying the source of nonuse values from commonly ascribed motivations (i.e. existence, bequest, altruistic), considering the role of pre-survey awareness of impacts, and evaluating results in the context of respondent willingness to pay for other nonuse benefits. © 2016.

Bingham M.F.,Veritas Economic Consulting | Li Z.,Veritas Economic Consulting | Mathews K.E.,Veritas Economic Consulting | Spagnardi C.M.,Veritas Economic Consulting | And 3 more authors.
North American Journal of Fisheries Management | Year: 2011

Although many recreational anglers reside in urban areas, important policy questions, such as how to optimally improve urban shorelines and increase urban angler participation rates, are unresolved. This article presents an econometric model that quantifies the relationships between site quality, angler characteristics, and urban angling behavior in five northeastern New Jersey counties. The model employed (repeated nested logit) is prominent in the environmental economics literature but has not to our knowledge been applied to urban fishery management. The results indicate that the repeated nested logit can effectively characterize urban anglers' site choices, participation rates, and resource values. The article presents two models whose differences highlight considerations in modeling urban angling behavior. The first includes variables typically found in recreational-fishing, site-choice models. The second (and preferred) model includes variables that more appropriately characterize urban angling. This model predicts approximately 2,341,000 total annual trips. Adding a fishing site in a centrally located but industrial area (Newark) generates direct economic benefits to recreational anglers that are estimated at US$101,179 per year. The new site is expected to draw 1,571 trips annually. Of these trips, 154 are new and 1,417 are diverted from other sites. Adding a new site with similar characteristics on the same water body in a less industrial area (Garfield) generates estimated direct benefits of $312,419 per year. This new site draws an expected 14,814 trips annually. Of these trips, 247 arise from increased angling rates and 14,567 are diverted from other sites. These results illustrate the usefulness of this modeling approach for assessing management objectives. For example, a manager hoping to increase angling participation might prefer the Newark project if it could be completed at half the price; a manager intending to maximize social benefits or reduce pressure at other sites would pay a substantial premium for the Garfield project. © American Fisheries Society 2011.

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