Environmental accidents and stigmatized fish prices: Evidence from the prestige oil spill in Galicia

Rocío Domínguez Álvarez, María L. Loureiro

Abstract

Assessing the economic damages and their temporal dimension caused by oil spills is very important. In the present paper, we analyze the stigma effect caused in fish markets, in the North West coast of Spain (Galicia) after the Prestige oil spill. Specifically, we focus on pelagic fish species which represent a relevant market share in Galicia. The results show that printed media surrounding the accident had a statistically significant role in the evolution of fish prices. Two types of stigma were found: temporal and geographical stigma. Our results conclude that there is persistence of environmental effects after the spill.

Keywords

Economic damages; Fisheries; Galicia; Hedonic prices; Prestige oil spill

Subject classification

Q51, C23.

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