Kerry Smith


W. P. Carey Professor of Economics; Affiliated faculty - School of
Geographical Sciences


Ph.D. Rutgers University 1970; A.B. Rutgers University 1966

Research Areas

General: environmental economics public economics applied
econometrics; Specific topics: economic valuation of environmental
amenities; sorting models and general equilibrium policy analysis;
evaluation of individual behavior under uncertainty

Recent Consulting

Stratus Consulting-Natural Resource damage case; Industrial Economics
Inc-valuation of time for assessing delay costs with homeland security
regulations; Environmental Protection Agency; RTI International

Current Projects:

Economics of complementary private and public mitigation for homeland
security; economic valuation of benefits of air quality improvements
for sensitive groups - children and the elderly; designing sustainable
prices structures for residential uses of water; general equilibrium
welfare measurement with non-separable externalities; integrating
benefit measures for benefit transfer and policy evaluation; valuing
policies to reduce effects of urbanization on local heat islands

Academic Positions Held

Arizona State University: 2006-present. Previous appointments: North
Carolina State University 1999-2006 and 1987-1994 University
Distinguished Professor; 1999-2006 Director Center for Environmental
and Resource Economic Policy; Duke University 1994-1999 Arts and
Sciences Professor Of Environmental Economics; Vanderbilt University
1983-1987 Centennial Professor of Economics; University of North
Carolina Chapel Hill 1979-1983 Professor of Economics; Resources for
the Future 1976-1979 Senior Fellow; 1969 -1976 held appointments at
Bowling Green State University Resources for the Future and State
University of New York at Binghamton.

Other Positions

University Fellow Resources for the Future; Research Associate
National Bureau of Economic Research

Career and Recent Professional Awards; Teaching AwardsMember National
Academy of Sciences; Fellow American Agricultural Economics
Association; Fellow Association of Environmental and Resource
Economists; John Simon Guggenheim Foundation Fellow; Waugh Medal and
Lecture AAEA

Professional Leadership

Editorial Boards: Journal of Environmental Economics and Management
Land Economics Resource and Energy Economics Environment and
Development Economics; Associate Editor Journal of Risk and
Uncertainty; Board of Advisors American National Election Survey

Corporate and Public Sector Leadership

Member Committee on Valuing Protection of Ecological Systems and
Services Science Advisory Board U.S. Environmental Protection Agency;
Member Clean Air Act Compliance Committee Science Advisory Board U.S.
Environmental Protection Agency (service ended 2006); Member Executive
Committee Science Advisory Board U.S. Environmental protection Agency
(service initiated 2007); Advisory Committee on Sustainability Policy
APS 2006-present

Representative Publications

The Smoking Puzzle: Information Risk Perception and Choice (Cambridge
MA: Harvard University Press 2003) (with F. Sloan and D.H. Taylor
Jr.). (Japanese Edition by Tobacco Research Institute 2007)


Estimating the General Equilibrium Benefits of Large Changes in
Spatially Delineated Public Goods International Economic Review
November 2004 (with H. Sieg H.S. Banzhaf and R. Walsh). Reprinted in
J. Herriges and C. Kling editors Environmental Economics and Policy
(tentative title) (Hampshire U.K: Ashgate Publishing Co. forthcoming)


Do New Health Conditions Support Mortality-Air Pollution Effects?
with M.F. Evans Journal of Environmental Economics and Management
November 2005.


Adjusting to Natural Disasters with J.Carbone J.C. Pope D. Hallstrom
and M. Darden Journal of Risk and Uncertainty vol. 33 no.1 2006.
Reprinted in Harry Richardson Peter Gordon and James E. Moore II
editors Post Katrina: Risk Assessment Economic Analysis and Social
Implications (Cheltenham UK: Edward Elgar forthcoming)


Judging Quality Barbara Kanninen editor Valuing Environmental
Amenities Using Choice Experiments: A Common Sense Guide to Theory and
Practice (Springer 2007).


Quality Adjusted Prices and the Willig Condition with H.S. Banzhaf
Economics Letters vol. 94 2007.


Improving the Practice of Benefits Transfer: A Preference Calibration
Approach in St 229;le Navrud and Richard Ready editors Environmental
Value Transfer: Issues and Method (Dordrecht The Netherlands: Kluwer
Academic Publishers 2007) (with S.K. Pattanayak and G.L. Van Houtven).


Meta Analysis in Model Implementation: Choice Sets and the Valuation
of Air Quality Improvements with H.S. Banzhaf Journal of Applied
Econometrics forthcoming.


Evaluating Policy Interventions with General Equilibrium
Externalities with J.C. Carbone Journal of Public Economics forthcoming.


Integrating Property Value and Local Recreation Models to Value
Ecosystem Services in Urban Watersheds with Daniel Phaneuf Raymond
Palmquist and Jaren Pope Land Economics forthcoming.

Research Activity


Fall 2013
Course NumberCourse Title
ECN 345Env & Resouce Economics
ECN 791Seminar