Kerry Smith
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CPCOM 455K TEMPE, AZ 85287-9801
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Kerry Smith is an Emeritus Professor of economics in the W. P. Carey School of Business at Arizona State University. He is also an affiliated faculty member in the School of Geographical Sciences and Urban Planning. Smith joined the ASU faculty in 2006.
His studies focus on environmental economics, public economics and applied econometrics. Of particular interest to Smith are the economic valuation of environmental amenities; sorting models and general equilibrium policy analysis; and evaluation of individual behavior under uncertainty.
Smith's most recent research projects include the exploration of the 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; and valuing policies to reduce effects of urbanization on local heat islands
He's consulted with Stratus Consulting (natural resource damage case); Industrial Economics Inc. (valuation of time for assessing delay costs with homeland security regulations); the Environmental Protection Agency and RTI International.
Prior to coming to ASU, Smith held positions with North Carolina State University, including directing the Center for Environmental and Resource Economic Policy, Duke University, Vanderbilt University, University of North Carolina Chapel Hill, Bowling Green State University and State University of New York at Binghamton.
Smith is a member of the National Academy of Sciences, a fellow of the American Agricultural Economics Association (AAEA) and the Association of Environmental and Resource Economists. He is also a John Simon Guggenheim Foundation fellow and holds the Waugh Medal and Lecture with the AAEA.
- Ph.D. Rutgers University 1970
- A.B. Rutgers University 1966
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.
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
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 2007.
- Evaluating Policy Interventions with General Equilibrium Externalities with J.C. Carbone Journal of Public Economics 2008.
- Integrating Property Value and Local Recreation Models to Value Ecosystem Services in Urban Watersheds with Daniel Phaneuf Raymond Palmquist and Jaren Pope Land Economics 2008.
- "Valuing Nature in a General Equilibrium," Journal of Environmental Economics and Management, July 2013 (with Jared Carbone)
- “The New Economics of Equilibrium Sorting and Policy Evaluation Using Housing Markets,” Journal of Economic Literature, December 2013 (with Nicolai Kuminoff and Christopher Timmins).
- “The Welfare Cost of Uncertainty in Policy Outcomes” Journal of Environmental Economics and Management, November 2019 (with Edward E. Schlee)
- “Let Environmentalists Acquire ‘Nonuse Rights’ to Conserve Natural Resources” Science, August 2021 ( with Bryan Leonard, Shawn Regan, Christopher Costello, Suzi Kerr, Dominic Parker, Andrew J. Plantinga, James Salzman, and Temple Stoellinger)
- “Bundling Private Complements to Finance Public Goods” Land Economics, August, 2022, (special issue) (with H. Spencer Banzhaf)
- The Economics of Environmental Risk: Information, Perception, and Valuation (Cheltenhen U.K.: Elgar Publishing Co., 2022).
- “Student Debt Forgiveness, Residential Energy Credits, and Equity” Economics Letters, Vol. 222, 2023.
- “Accounting for Income Inequality in Benefit Transfers: The Importance of the Income Elasticity of WTP” Journal of Environmental Economics and Management, Vol. 118, 2023.
- Childers,Daniel L*, Smith,Vincent Kerry. COLLABORATIVE RESEARCH: RCN-SEES for Urban Sustainability: Research Coordination and Synthesis for a Transformative Future. NSF-BIO(9/15/2011 - 8/31/2016).
- Smith,Vincent Kerry*, Prescott,Edward C. Research dialogue between macro and environmental economists. SLOAN (ALFRED P) FDN(3/1/2011 - 10/1/2011).
- Grimm,Nancy B*, Abbott,Joshua K, Abbott,Joshua K, Aggarwal,Rimjhim M, Aggarwal,Rimjhim M, Anselin,Luc E, Arrowsmith,Ramon, Basile,George Matthew, Basile,George Matthew, Basile,George Matthew, Bateman,Heather Lyn, Bolin,Robert, Boone,Christopher G, Boone,Christopher G, Boone,Christopher G, Brazel,Anthony J, Childers,Daniel L, Childers,Daniel L, Deviche,Pierre, Earl,Stevan Ross, Earl,Stevan Ross, Elser,Monica Mueller, Elser,Monica Mueller, Fenichel,Eli Paul, Franklin,Janet, Fraser,Matthew P, Fraser,Matthew P, Gober,Patricia, Hall,Sharon, Harlan,Sharon, Hartnett,Hilairy, Johnson,James Chadwick, Lant,Timothy W, Lant,Timothy W, Larson,Kelli Leigh, Larson,Kelli Leigh, Larson,Kelli Leigh, Martin,Chris A, Myint,Soe W, Nation,Marcia L, Nation,Marcia L, Redman,Charles L, Redman,Charles L, Redman,Charles L, Ruddell,Benjamin Lyle, Sabo,John L, Shock,Everett, Smith,Vincent Kerry, Stutz,Jean C, Tarrant,Philip E, Turner II,Billie Lee, Turner II,Billie Lee, Vivoni,Enrique, Westerhoff,Paul, Wiek,Arnim, Wiek,Arnim, Wu,Jianguo, Wu,Jianguo, Wu,Jianguo, Wutich,Amber Yoder, York,Abigail. CAP3: Urban Sustainability in the Dynamic Environment of Central Arizona USA. NSF-ENG-BCS(12/1/2010 - 11/30/2016).
- White,Dave Douglas*, Anselin,Luc E, Balling,Robert C, Basile,George Matthew, Basile,George Matthew, Brazel,Anthony J, Eakin,Hallie C, Ellis,Andrew Walton, Elser,Monica Mueller, Elser,Monica Mueller, Gammage,Grady, Gober,Patricia, Gober,Patricia, Guhathakurta,Subhrajit, Guhathakurta,Subhrajit, Kenrick,Douglas T, Kirkwood,Craig William, Lant,Timothy W, Larson,Kelli Leigh, Larson,Kelli Leigh, Ledlow,Susan Elizabeth, Murray,Alan Todd, Nelson,Margaret C, Neuberg,Steven Laurence, Redman,Charles L, Redman,Charles L, Smith,Vincent Kerry, Turner II,Billie Lee, Wentz,Elizabeth Ann, Westerhoff,Paul, Wiek,Arnim, Wutich,Amber Yoder, York,Abigail. Decision Center for a Desert City II - Urban Climate Adaptation. NSF-SES(9/15/2010 - 8/31/2016).
- Harlan,Sharon*, Grimm,Nancy B, Larson,Kelli Leigh, Larson,Kelli Leigh, Smith,Vincent Kerry, Wutich,Amber Yoder. 2010 Supplement for NSF GrantDEB-0423704CAP LTER: Phase 2(Social Survey 2011 portion only) "Improving response to hard-to-reach groups". NSF-BIO(8/13/2010 - 11/30/2011).
- Smith,Vincent Kerry*. The Economics of Environmental Vulnerability: Epidemiology, Household Status, and Air Pollution. USEPA-REGION 9(8/1/2008 - 9/30/2012).
- Smith,Vincent Kerry*. Statement of Work for CREATE project - Year 5 funding. UNIV OF SOUTHERN CA(11/1/2007 - 12/31/2009).
- Smith,Vincent Kerry*. The Role of Public Mitigation for Homeland Security Policy: Phase II. UNIV OF SOUTHERN CA(11/1/2007 - 11/30/2008).
- Smith,Vincent Kerry*. Public-Private Complementaries in Enhancing Resilience. UNIV OF SOUTHERN CA(5/21/2007 - 6/30/2009).
- Smith,Vincent Kerry*. The Role of Public and Private Mitigation for Homeland Security Policy. UNIV OF SOUTHERN CA(7/17/2006 - 9/30/2007).
- Grimm,Nancy B*, Aggarwal,Rimjhim M, Anderies,John M, Arrowsmith,Ramon, Basile,George Matthew, Bolin,Robert, Boone,Christopher G, Boone,Christopher G, Brazel,Anthony J, Childers,Daniel L, Deviche,Pierre, Earl,Stevan Ross, Elser,Monica Mueller, Fraser,Matthew P, Gries,Corinna, Grossman Clarke,Susanne, Hall,Sharon, Harlan,Sharon, Hartnett,Hilairy, Johnson,James Chadwick, Kinzig,Ann, Larson,Kelli Leigh, Majumdar,Anandamayee, Martin,Chris A, Myint,Soe W, Nation,Marcia L, Redman,Charles L, Redman,Charles L, Sabo,John L, Shock,Everett, Shock,Everett, Smith,Vincent Kerry, Stutz,Jean C, Tarrant,Philip E, Turner II,Billie Lee, Westerhoff,Paul, Wiek,Arnim, Wu,Jianguo, Wutich,Amber Yoder, Yabiku,Scott Thomas, York,Abigail. Cap LTER: Phase 2 - 2006 REU Supplement. NSF-BIO(7/6/2006 - 11/30/2011).
- Grimm,Nancy B*, Aggarwal,Rimjhim M, Anderies,John M, Arrowsmith,Ramon, Basile,George Matthew, Bolin,Robert, Boone,Christopher G, Boone,Christopher G, Brazel,Anthony J, Childers,Daniel L, Deviche,Pierre, Earl,Stevan Ross, Elser,Monica Mueller, Fraser,Matthew P, Gries,Corinna, Grossman Clarke,Susanne, Hall,Sharon, Harlan,Sharon, Hartnett,Hilairy, Johnson,James Chadwick, Kinzig,Ann, Larson,Kelli Leigh, Majumdar,Anandamayee, Martin,Chris A, Myint,Soe W, Nation,Marcia L, Redman,Charles L, Redman,Charles L, Sabo,John L, Shock,Everett, Shock,Everett, Smith,Vincent Kerry, Stutz,Jean C, Tarrant,Philip E, Turner II,Billie Lee, Westerhoff,Paul, Wiek,Arnim, Wu,Jianguo, Wutich,Amber Yoder, Yabiku,Scott Thomas, York,Abigail. Cap LTER: Phase 2 - 2006 International & General Supplements. NSF-BIO(7/6/2006 - 11/30/2011).
- Childers,Daniel L*, Aggarwal,Rimjhim M, Allen,Jonathan Ostrom, Allen,Jonathan Ostrom, Anderies,John M, Anderies,John M, Arrowsmith,Ramon, Basile,George Matthew, Basile,George Matthew, Bolin,Robert, Bolin,Robert, Boone,Christopher G, Boone,Christopher G, Brazel,Anthony J, Briggs,John M, Deviche,Pierre, Earl,Stevan Ross, Elser,Monica Mueller, Faeth,Stanley H, Fraser,Matthew P, Gries,Corinna, Grimm,Nancy B, Grossman Clarke,Susanne, Hall,Sharon, Harlan,Sharon, Harlan,Sharon, Harlan,Sharon, Hartnett,Hilairy, Hope,Diane, Johnson,James Chadwick, Johnson,James Chadwick, Kaye,Jason, Kinzig,Ann, Kuby,Lauren H, Larson,Kelli Leigh, Majumdar,Anandamayee, Martin,Chris A, Martin,Chris A, Mccartney,Peter H, Myint,Soe W, Nash,Thomas H, Nation,Marcia L, Peccia,Jordan Lee, Redman,Charles L, Redman,Charles L, Sabo,John L, Shears,Brenda L, Shock,Everett, Shock,Everett, Smith,Vincent Kerry, Stutz,Jean C, Stutz,Jean C, Tarrant,Philip E, Turner II,Billie Lee, Wentz,Elizabeth Ann, Westerhoff,Paul, Wiek,Arnim, Wu,Jianguo, Wutich,Amber Yoder, Yabiku,Scott Thomas, York,Abigail. Central Arizona Phoenix LTER: Phase 2. NSF-BIO(12/1/2004 - 11/30/2011).
Career and Recent Professional Awards:
- Member, National Academy of Sciences
- Fellow, American Agricultural Economics Association (AAEA)
- Fellow, Association of Environmental and Resource Economists
- John Simon Guggenheim Foundation Fellow
- Waugh Medal and Lecture AAEA
- Julian Simon Fellow, Property and Environment Research Center, 2017, 2018
- Distinguished Fellow, (inaugural cohort) Southern Economic Association, 2023
- Fellow, Society for Benefit Cost Analysis, 2023
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Associate Editor Journal of Risk and Uncertainty
Arizona State University: 2006-present.
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
University Fellow Resources for the Future
Research Associate National Bureau of Economic Research
1969 -1976 held appointments at Bowling Green State University Resources for the Future and State University of New York at Binghamton.
Corporate and Public Sector Leadership
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