Applying Economics to the Environment

About this book

Distinguished by its breadth of coverage and in-depth discussions of key topics, this book looks at the implications of environmental factors for economic policy-making. As well as chapters on damage and benefit analysis, monitoring and enforcement of environmental regulation, and the special problems of developing countries and the environment, it also includes a review of relevant microeconomic theory, an introduction to the history of environmental policy and legislation, and case studies of approaches to development versus preservation dilemmas and regional cost benefit analysis.

Contents

FOREWORD; CHAPTER 1: WHAT DOES ENVIRONMENTAL ECONOMICS HAVE TO DO WITH THE ENVIRONMENT?:- SOME HISTORICAL PROBLEMS; ANALYSES OF CAUSES AND SOLUTIONS; GETTING CLOSER TO SPECIFICS; A SKETCH OF ENVIRONMENTAL POLICY CHOICES; DEVELOPMENT AND THE ENVIRONMENT; A CONCLUDING THEME; CHAPTER 2: BACKGROUND ON ACTUAL POLICY CHOICES:- A LITTLE HISTORY; EFFORTS TO DEAL LEGISLATIVELY WITH THE ENVIRONMENT IN THE UNITED STATES; THE 1970S - A DECADE OF ENVIRONMENTAL LEGISLATION; SUMMARIZING THE PLACE OF ECONOMICS IN ENVIRONMENTAL LEGISLATION IN THE US; A FEW COMMENTS ON INTERNATIONAL COMPARISONS AND GLOBAL CONCERNS; THINGS TO KEEP IN MIND; CHAPTER 3: MICROECONOMICS: REVIEW AND EXTENSIONS:- DEMAND, WILLINGNESS TO PAY, AND SURPLUSES; OPTIMIZATION IN MICROECONOMICS; SUPPLY/MARGINAL COST; SOCIAL WELFARE NOTIONS: PRICES AND OPTIMALITY; NOTES ON OPTIMIZATION AND THE CHOICE OF ENVIRONMENTAL POLICY; OPTIMIZATION IN MICROECONOMICS; REMINDERS; APPENDIX I - CHAPTER 3: RATIONALITY; DEMAND FUNCTIONS AND WILLINGNESS TO PAY; TIME AND UNCERTAINTY; IGNORANCE OF THE FUTURE; RISK AND UNCERTAINTY; APPENDIX II - CHAPTER 3: CORRECTING MARKET FAILURES: IS PARTIAL CORRECTION BETTER THAN NOTHING?; OPTIMIZING WITH INCONVENIENTLY SHAPED FUNCTIONS; WHEN AVAILABLE FUTURE DECISIONS ARE CHANGED BY PRESENT DECISIONS; CHAPTER 4: AN INTRODUCTION TO THE "ENVIRONMENTAL" PART OF ENVIRONMENTAL ECONOMICS:- FUNCTIONS OF THE ENVIRONMENT RELEVANT TO ENVIRONMENTAL ECONOMICS; MODELS OF THE NATURAL WORLD; MORE ABOUT SPACE, TIME, AND RANDOMNESS; IGNORANCE; CONCLUDING COMMENTS AND REMINDERS; CHAPTER 5: COST-BENEFIT ANALYSIS AND THE MANAGEMENT OF THE ENVIRONMENT:- GOING BEYOND THE SIMPLEST OPTIMIZING PROBLEM; A MORE FORMAL AND COMPLEX MODEL OF THE OPTIMIZING PROBLEM; DOING LESS THAN BASIN-WIDE NET BENEFIT MAXIMIZATION; CHAPTER 6: DAMAGE AND BENEFIT ESTIMATION: BACKGROUND AND INTRODUCTION:- PRACTICAL ARGUMENTS; ETHICAL OBJECTIONS AND COUNTER CONSIDERATIONS; SOME IMPORTANT MISUNDERSTANDINGS ABOUT ECONOMICS; SOME POSSIBLE BASES FOR VALUING ENVIRONMENTAL GOODS AND SERVICES; THE HEART OF THE ECONOMIC APPROACH; BENEFIT "ROUTES" - A BRIEF REVIEW; CONCLUSIONS AND REMINDERS; CHAPTER 7: INDIRECT BENEFIT ESTIMATION:- DEMAND SHIFTS: COMPLEMENTARITY; COST SHIFTS: AVERTING, REPLACING OR CURING EXPENDITURE; TRAVEL COST AND ITS RELATION TO ENVIRONMENTAL QUALITY; COMMENTS ON INDIRECT METHODS OF BENEFIT ESTIMATION MORE GENERALLY; CONCLUSIONS AND REMINDERS; CHAPTER 8: DIRECT METHODS OF BENEFIT ESTIMATION:- STRATEGIC RESPONSES; COGNITIVE DIFFICULTIES AND LACK OF KNOWLEDGE; SOME OTHER CHALLENGES FOR DIRECT QUESTIONING METHODS; CONJOINT ANALYSIS; THREE FINAL, PRACTICAL PROBLEMS; AN ATTEMPT AT A BOTTOM LINE ON DIRECT QUESTIONING TECHNIQUES; CHAPTER 9: POLICY INSTRUMENTS I: SOME BASIC RESULTS AND CONFUSIONS:- NARROWING DOWN; BASES FOR JUDGING AMONG INSTRUMENTS; STATIC EFFICIENCY; CONTRASTING THE STATIC AND DYNAMIC CASES; A WORD ABOUT SUBSIDIES; A SUMMARY TO THIS POINT; CHAPTER 10: POLICY INSTRUMENTS II: OTHER CONSIDERATIONS AND MORE EXOTIC INSTRUMENTS:- COMPARING INSTRUMENTS: OTHER CONSIDERATIONS; GENERAL INSTITUTIONAL DEMANDS; PRICES, ETHICS AND POLITICS IN ENVIRONMENTAL POLICY; OTHER DIMENSIONS OF JUDGEMENT; BEYOND ADMINISTERED PRICES AND STRAIGHTFORWARD REGULATIONS; LIABILITY PROVISIONS; THE PROVISION OF INFORMATION; CHALLENGE REGULATION; CONCLUDING COMMENTS AND REMINDERS; CHAPTER 11: MONITORING AND ENFORCEMENT:- CHARACTERISTICS OF VARIOUS M & E SETTINGS; ELEMENTS OF A MONITORING AND ENFORCEMENT SYSTEM; SOME SIMPLE ECONOMICS OF MONITORING AND ENFORCEMENT; MONITORING AND COMPLIANCE AS A DECISION UNDER UNCERTAINTY; CONCLUSIONS AND REMINDERS; CHAPTER 12: DEALING WITH RISK: THE NORMATIVE MODEL AND SOME LIMITATIONS:- RATIONAL MODELS FOR DEALING WITH RISK; COGNITIVE PROBLEMS WITH RISKY DECISIONS; SOME CONCLUSIONS; CHAPTER 13: RISK ANALYSIS AND RISKY DECISIONS: SOME APPLICATIONS:- RISK ANALYSIS AND RISK MANAGEMENT; IRREVERSIBLE DECISIONS, IGNORANCE, AND THE TECHNIQUES FOR INFORMING DECISIONS; CONCLUDING COMMENTS; CHAPTER 14: DEVELOPMENT AND ENVIRONMENT: DESCRIPTIVE STATISTICS AND SPECIAL CHALLENGES:- TRYING TO UNDERSTAND ECONOMIC GROWTH AND SUSTAINABILITY; DESCRIBING COUNTRIES AND THEIR HEALTH AND ENVIRONMENTAL PROBLEMS; BACK TO THE QUESTION OF SPECIAL CHALLENGES; DOES RISING INCOME LEAD TO BETTER ENVIRONMENT AND THUS TO SUSTAINABILITY?; CONCLUDING COMMENTS; CHAPTER 15: ESTIMATING ENVIRONMENTAL QUALITY BENEFITS OR DAMAGES IN DEVELOPING COUNTRIES:- INTRODUCTION; BENEFIT ESTIMATION METHODS FOR THE DEVELOPING COUNTRY SETTING; DIRECT, HYPOTHETICAL OR "STATED PREFERENCE" METHODS; SOME EVIDENCE ON CONTRASTS BETWEEN DEVELOPING AND DEVELOPED COUNTRIES; CONCLUSION; CHAPTER 16: CHOOSING INSTRUMENTS OF ENVIRONMENTAL POLICY IN THE DEVELOPING COUNTRY CONTEXT:- THE INSTITUTIONAL SETTING IN DEVELOPING COUNTRIES; ARE MARKET-BASED ENVIRONMENTAL POLICY INSTRUMENTS THE BEST ANSWER FOR DEVELOPING COUNTRIES? OBSERVATIONS AND SUGGESTIONS; SOME EVIDENCE ON THE ACTUAL CHOICES OF ENVIRONMENTAL POLICY INSTRUMENTS BEING MADE IN LATIN AMERICA; CONCLUDING COMMENTS; APPENDIX I - CHAPTER 16: SOME DETAIL ON INSTITUTIONAL CAPABILITIES AND MARKET CONFIGURATIONS IN LATIN AMERICA; CHAPTER 17: DEVELOPING COUNTRY ENVIRONMENTS AND OECD COUNTRY TASTES: AN ASYMMETRIC RELATION:- SOME POSSIBILITIES FOR CROSS-BORDER INFLUENCE; WHERE DOES THAT LEAVE US?

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