The Resource Loss-of-Use Damages From U.S. Nuclear Testing in the Marshall Islands: Technical Analysis of the Nuclear Claims Tribunal's Methodology and Alternative Estimates

Loss-of-Use Damages From U.S. Nuclear Testing in the Marshall Islands: Technical Analysis of the Nuclear Claims Tribunal's Methodology and Alternative Estimates

Label
Loss-of-Use Damages From U.S. Nuclear Testing in the Marshall Islands: Technical Analysis of the Nuclear Claims Tribunal's Methodology and Alternative Estimates
Title
Loss-of-Use Damages From U.S. Nuclear Testing in the Marshall Islands: Technical Analysis of the Nuclear Claims Tribunal's Methodology and Alternative Estimates
Contributor
Subject
Language
eng
Summary
Key oversight committees in the 109th Congress have held joint hearings on the Republic of the Marshall Islands (RMI) Changed Circumstances Petition, which requests $522 million in additional compensation for loss-of-use of Enewetak and Bikini atolls due to U.S. nuclear testing. The $522 million appears to be significantly overstated because the methodology - sample rent data, assumptions, and statistical procedures (i.e., the sampling technique and the use of the exponential regression model) overestimates the per-acre rental rate for land on Enewetak and Bikini, the key variable in the loss-of-use calculation. Rents on Enewetak and Bikini are overestimated because an exponential regression model was applied to rents established not in a competitive, free market for agricultural land on Enewetak and Bikini, but rather to government-established, and predominantly commercial, rents on the more urbanized and densely populated, Majuro and Kwajalein atolls. Most land in the RMI is leased at the official government rate established by the RMI cabinet. This rate, which was set by the RMI at $2,500/acre on January 1, 1979 and increased to $3,000/acre on October 1, 1989, serves as the benchmark for all lease transactions. The RMI government is not only the tenant in over 40% of the leases - a major source of the demand for RMI land but RMI government officials were also effectively the landlords during the estimation period when rents were government-controlled. Applying this methodology to unrepresentative sample rent data leads to projected rent/acre of $112,995/acre for the year 2027, which is equivalent to land asset value of nearly $1,774,024/acre. The Nuclear Claims Tribunal's (NCT) methodology also assumes that vaporized islands were not vaporized, undervalues the rentals on alternative atoll habitation, and assumes that 100% of the rental proceeds would have been saved
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
  • Lazzari, Salvatore
  • LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE
http://library.link/vocab/subjectName
  • Cost estimates
  • Land areas
  • Atolls
  • Marketing
  • Kwajalein atoll
  • Bikini atoll
  • Enewetak atoll
  • Habitability
  • Marshall islands
  • Nuclear explosion testing
  • Statistical processes
  • Economics and Cost Analysis
  • Geography
Label
Loss-of-Use Damages From U.S. Nuclear Testing in the Marshall Islands: Technical Analysis of the Nuclear Claims Tribunal's Methodology and Alternative Estimates
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
43 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227899226
  • (OCoLC)ocn227899226
Label
Loss-of-Use Damages From U.S. Nuclear Testing in the Marshall Islands: Technical Analysis of the Nuclear Claims Tribunal's Methodology and Alternative Estimates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
43 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227899226
  • (OCoLC)ocn227899226

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