Applying economics to the environment

By: Russell, Clifford S
Material type: TextTextPublisher: New York Oxford University Press 2001Description: xii, 383 p.ISBN: 9780195126846Subject(s): Environmental economics | Macroeconomics | MicroeconomicsDDC classification: 333.7 Summary: 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. (https://global.oup.com/academic/product/applying-economics-to-the-environment-9780195126846?q=Applying%20economics%20to%20the%20environment&lang=en&cc=in#)
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Table of Contents:

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

CHAPTER 17
DEVELOPING COUNTRY ENVIRONMENTS AND OECD COUNTRY TASTES: AN ASYMMETRIC RELATION

• Some Possibilities for Cross-Border Influence;
• Where does That Leave Us?


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.


(https://global.oup.com/academic/product/applying-economics-to-the-environment-9780195126846?q=Applying%20economics%20to%20the%20environment&lang=en&cc=in#)

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