ASSESSING RISK COSTS FOR NUCLEAR WASTE TRANSPORTATION

This research develops and tests a new concept in the valuation of nuc lear waste transportation by using two simultaneous but complimentary approaches: (1) a contingent valuation method (CVM) and (2) an experim ental inference procedure (EIP) that has direct monetary incentives fo r the respondents to accurately reveal preferences. Each approach is c onstructed to compensate for limitations of the other. Respondents of the survey indicated some willingness to negotiate for compensation on matters of nuclear waste transportation, but a majority of individual s tended to take an extreme position either for or against nuclear was te. Comparison of the inference game to CVM valuation of nuclear waste indicates that the CVM must be further calibrated by the inference ga me to accurately measure values towards nuclear waste valuation.