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Environmental Economics and Policy

ISBN: 9780321348906 | 0321348907
Edition: 6th
Format: Paperback
Publisher: Prentice Hall
Pub. Date: 1/1/2010

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SummaryTable of Contents
Tom Tietenberg has written the ideal book for a policy-oriented course in environmental economics, accessible to both non-majors and majors. He begins with a brief introduction to the core theory, and then offers a series of self-contained policy chapters that allow professors great flexibility when planning their course. With an overhaul of the applications, a new Debate feature that highlights today's policy issues, and the latest research integrated throughout, The Fifth Edition represents the most thorough revision in over a decade.
Prefacexviii
Visions of the Future
1(12)
Introduction
1(1)
... MORE
The Self-Extinction Premise
1(1)
Future Environmental Challenges
2(2)
Climate Change
2(1)
Example 1.1 Historical Examples of Self-Extinction
3(1)
Water Accessibility
4(1)
Meeting the Challenges
4(1)
How Will Societies Respond?
5(1)
The Role of Economics
6(1)
The Use of Models
6(1)
Debate 1.1 Ecological Economics versus Environmental Economics
7(1)
The Road Ahead
7(3)
Debate 1.2 What Does the Future Hold?
8(1)
The Issues
9(1)
An Overview of the Book
9(1)
Summary
10(3)
Key Concepts
11(1)
Further Reading
11(1)
Additional References
12(1)
Discussion Questions
12(1)
Valuing the Environment: Concepts
13(18)
Introduction
13(1)
The Human Environment Relationship
13(3)
The Environment as an Asset
13(2)
The Economic Approach
15(1)
Normative Criteria for Decision Making
16(8)
Evaluating Predefined Options
16(2)
Debate 2.1 Should Humans Place an Economic Value on the Environment?
18(2)
Example 2.1 Valuing Ecological Services from Preserved Tropical Forests
20(4)
Finding the Optimal Outcome
24(2)
Static Efficiency
25(1)
Dynamic Efficiency
26(1)
Applying the Concepts
26(3)
Pollution Control
26(1)
Example 2.2 Does Reducing Pollution Make Economic Sense?
27(1)
Preservation versus Development
28(1)
Example 2.3 Choosing Between Preservation and Development in Australia
28(1)
Summary
29(2)
Key Concepts
29(1)
Further Reading
30(1)
Discussion Question
30(1)
Valuing the Environment: Methods
31(28)
Introduction
31(1)
Risk Assessment
31(1)
Valuing Benefits for Risk Management
32(18)
Types of Values
33(1)
Classifying Valuation Methods
33(1)
Example 3.1 Valuing the Northern Spotted Owl
34(4)
Example 3.2 Valuing Damage from Groundwater Contamination Using Averting Expenditures
38(2)
Example 3.3 Valuing Diesel Odor Reduction by Contingent Ranking
40(1)
Example 3.4 The Value of Wildlife Viewing
41(1)
Debate 3.1 Is Placing a Monetary Value on Human Life Immoral?
42(2)
Issues in Benefit Estimation
44(1)
Approaches to Cost Estimation
44(1)
The Treatment of Risk
45(2)
Choosing the Discount Rate
47(1)
Example 3.5 The Historical Importance of the Discount Rate
48(1)
A Critical Appraisal
49(1)
Cost-Effectiveness Analysis
50(2)
Impact Analysis
52(1)
Example 3.6 NO2 Control in Chicago: An Example of Cost-Effectiveness Analysis
52(1)
Summary
53(6)
Key Concepts
54(1)
Further Reading
54(1)
Additional References
55(3)
Discussion Questions
58(1)
Property Rights, Externalities, and Environmental Problems
59(25)
Introduction
59(1)
Property Rights
60(4)
Property Rights and Efficient Market Allocations
60(1)
Efficient Property Right Structures
60(1)
Example 4.1 Pollution in Centrally Planned Economies
61(3)
Producer's Surplus, Scarcity Rent, and Long-Run Competitive Equilibrium
64(1)
Externalities as a Source of Market Failure
64(2)
The Concept Introduced
64(2)
Types of Externalities
66(1)
Incentives and Property Rights Systems
66(7)
Other Property Rights Regimes
66(1)
Example 4.2 Shrimp Farming Externalities in Thailand
67(3)
Public Goods
70(2)
Example 4.3 Public Goods Privately Provided: The Nature Conservancy
72(1)
Imperfect Market Structures
73(1)
Divergence of Social and Private Discount Rates
73(2)
Government Failure
75(1)
The Pursuit of Efficiency
76(4)
Private Resolution through Negotiation
76(1)
The Courts: Property Rules and Liability Rules
77(2)
Legislative and Executive Regulation
79(1)
An Efficient Role for Government
80(1)
Summary
80(4)
Key Concepts
81(1)
Further Reading
81(1)
Additional References
82(1)
Discussion Questions
83(1)
Sustainable Development: Defining the Concept
84(14)
Introduction
84(1)
A Two-Period Model
85(4)
Defining Intertemporal Fairness
89(1)
Are Efficient Allocations Fair?
90(2)
Example 5.1 The Alaskan Permanent Fund
91(1)
Applying the Sustainability Criterion
92(2)
Example 5.2 Nauru: Weak Sustainability in the Extreme
93(1)
Implications for Environmental Policy
94(1)
Summary
94(4)
Key Concepts
96(1)
Further Reading
96(1)
Additional References
96(1)
Discussion Question
97(1)
The Population Problem
98(24)
Introduction
98(1)
Historical Perspective
99(3)
World Population Growth
99(1)
Population Growth in the United States
99(3)
Effects of Population Growth on Economic Development
102(6)
The Population/Environment Connection
108(1)
Debate 6.1 Does Population Growth Degrade the Environment?
109(1)
Effects of Economic Development on Population Growth
109(2)
The Economic Approach to Population Control
111(8)
Example 6.1 Achieving Fertility Declines in Low-Income Countries: The Case of Kerala
117(1)
Example 6.2 Income-Generating Activities as Fertility Control: Bangladesh
118(1)
Summary
119(3)
Key Concepts
119(1)
Further Reading
120(1)
Additional References
120(1)
Discussion Questions
121(1)
Natural Resource Economics: An Overview
122(13)
Introduction
122(1)
A Resource Taxonomy
123(3)
Efficient Intertemporal Allocations
126(4)
The Two-Period Model Revisited
127(1)
The N-Period Model
127(2)
Transition to a Renewable Substitute
129(1)
Exploration and Technological Progress
129(1)
Market Allocations
130(2)
Appropriate Property-Right Structures
130(1)
Example 7.1 Technological Progress in the Iron Ore Industry
131(1)
Environmental Costs
132(1)
Summary
132(3)
Key Concepts
133(1)
Further Reading
133(1)
Additional References
134(1)
Discussion Questions
134(1)
Energy
135(27)
Introduction
135(1)
Natural Gas: Price Controls
136(4)
Example 8.1 Hubbert's Peak
137(3)
Oil: The Cartel Problem
140(4)
Price Elasticity of Demand
141(1)
Income Elasticity of Demand
141(1)
Non-OPEC Suppliers
142(1)
Compatibility of Member Interests
142(2)
Oil: National Security Problem
144(4)
Debate 8.1 How Should the United States Deal with the Vulnerability of Its Imported Oil?
146(2)
Transition Fuels: Environmental Problems
148(3)
Conservation and Load Management
151(5)
Example 8.2 Electricity Deregulation in California: What Happened?
154(1)
Example 8.3 Tradable Energy Certificates: The Texas Experience
155(1)
The Long Run
156(2)
Summary
158(4)
Key Concepts
159(1)
Further Reading
159(1)
Additional References
159(2)
Discussion Questions
161(1)
Water
162(25)
Introduction
162(1)
The Potential for Water Scarcity
163(3)
The Efficient Allocation of Scarce Water
166(1)
Surface Water
166(1)
Groundwater
167(1)
The Current Allocation System
167(6)
Riparian and Prior-Appropriation Doctrines
167(2)
Sources of Inefficiency
169(3)
Debate 9.1 What Is the Value of Water?
172(1)
Potential Remedies
173(9)
Example 9.1 Using Economic Principles to Conserve Water in California
174(1)
Example 9.2 Protecting Instream Uses through Acquiring Water Rights
175(4)
Example 9.3 Water Pricing in Zurich, Switzerland
179(2)
Example 9.4 Politics and the Pricing of Scarce Water
181(1)
Debate 9.2 Should Water Systems Be Privatized?
182(1)
Summary
182(5)
Key Concepts
183(1)
Further Reading
183(1)
Additional References
184(2)
Discussion Questions
186(1)
Agriculture
187(24)
Introduction
187(1)
Global Scarcity
188(11)
Examining Global Scarcity
189(2)
Outlook for the Future
191(5)
The Role of Agricultural Policies
196(2)
Example 10.1 Do Mandatory Labels Correct Externalities?
198(1)
A Summing Up
199(1)
Distribution of Food Resources
199(6)
Defining the Problem
199(1)
Debate 10.1 Should Genetically Modified Organisms Be Banned?
200(1)
Example 10.2 Are Consumers Willing to Pay a Premium for GMO-Free Foods?
201(1)
Domestic Production in LDCs
202(1)
The Undervaluation Bias
203(1)
Feeding the Poor
204(1)
Feast and Famine Cycles
205(2)
Summary
207(4)
Key Concepts
207(1)
Further Reading
207(1)
Additional References
208(2)
Discussion Questions
210(1)
Biodiversity I: Forest Habitat
211(23)
Introduction
211(1)
Characterizing Forest Harvesting Decisions
212(5)
Special Attributes of the Forest
212(1)
The Biological Dimension
213(1)
The Economics of Forest Harvesting
214(3)
Land Conversion
217(1)
Sources of Inefficiency
218(3)
Perverse Incentives for the Landowner
218(2)
Perverse Incentives for Nations
220(1)
Poverty and Debt
221(1)
Sustainable Forestry
222(1)
Public Policy
223(5)
Changing Incentives
224(1)
Example 11.1 Producing Sustainable Forestry through Certification
225(1)
Debt-Nature Swaps
225(1)
Extractive Reserves
226(1)
Conservation Easements and Land Trusts
226(1)
The World Heritage Convention
227(1)
Royalty Payments
228(1)
Example 11.2 Does Pharmaceutical Demand Offer Sufficient Protection to Biodiversity?
229(1)
Example 11.3 Trust Funds for Conservation
230
Summary
228(6)
Key Concepts
231(1)
Further Reading
231(1)
Additional References
232(1)
Discussion Questions
233(1)
Biodiversity II: Commercially Valuable Species
234(23)
Introduction
234(1)
Efficient Harvests
235(4)
The Biological Dimension
235(2)
Static-Efficient Sustained Yield
237(2)
Appropriability and Market Solutions
239(2)
Example 12.1 Open-Access Harvesting of the Minke Whale
240(1)
Public Policy Toward Fisheries
241(10)
Example 12.2 Harbor Gangs of Maine
241(1)
Aquaculture
242(1)
Raising the Real Cost of Fishing
243(2)
Taxes
245(1)
Individual Transferable Quotas (ITOs)
246(3)
Marine Reserves
249(1)
Example 12.3 The Relative Effectiveness of Transferable Quotas and Traditional Size and Effort Restrictions in the Atlantic Sea Scallop Fishery
250(1)
The 200-Mile Limit
251(1)
Preventing Poaching
251(2)
Example 12.4 Local Approaches to Wildlife Protection: Zimbabwe
252(1)
Summary
253(4)
Key Concepts
253(1)
Further Reading
254(1)
Additional References
254(2)
Discussion Questions
256(1)
Environmental Economics: An Overview
257(24)
Introduction
257(1)
A Pollutant Taxonomy
258(1)
Defining the Efficient Allocation of Pollution
259(3)
Fund Pollutants
259(3)
Market Allocation of Pollution
262(1)
Efficient Policy Responses
263(1)
Example 13.1 Environmental Taxation in China
264(1)
Cost-Effective Policies for Emission Reduction
264(8)
Defining a Cost-Effective Allocation
264(2)
Cost-Effective Pollution Control Policies
266(1)
Emission Standards
266(1)
Emission Charges
267(2)
Transferable Emission Permits
269(2)
Debate 13.1 Should Developing Countries Rely on Market-Based Instruments to Control Pollution?
271(1)
Other Policy Dimensions
272(3)
The Revenue Effect
272(1)
Responses to Changes in the Regulatory Environment
272(1)
Example 13.2 The Swedish Nitrogen Charge
273(1)
Instrument Choice under Uncertainty
274(1)
Product Charges: Another Form of Environmental Taxation
275(1)
Example 13.3 The Irish Bag Levy
276
Summary
275(6)
Key Concepts
277(1)
Further Reading
278(1)
Additional References
278(2)
Discussion Questions
280(1)
Stationary-Source Local Air Pollution
281(25)
Introduction
281(1)
Conventional Pollutants
282(11)
The Command-and-Control Policy Framework
282(3)
Debate 14.1 Should the New Source Review Program Be Changed?
285(1)
The Efficiency of the Command-and-Control Approach
286(1)
Debate 14.2 The Particulate and Smog Ambient Standards Controversy
287(2)
Cost-Effectiveness of the Command-and-Control Approach
289(2)
Example 14.1 Controlling SO2 Emissions by Command-and-Control in Germany
291(1)
Air Quality
292(1)
Innovative Approaches
293(9)
The Emissions Trading Program
293(2)
Smog Trading
295(1)
The Effectiveness of Emissions Trading
296(1)
Emission Charges
297(1)
Hazardous Pollutants
298(3)
Example 14.2 Technology Diffusion in the Chlorine Manufacturing Sector
301(1)
Emissions Fees
301(1)
Summary
302(4)
Key Concepts
303(1)
Further Reading
303(1)
Additional References
303(2)
Discussion Questions
305(1)
Acid Rain and Atmospheric Modification
306(28)
Introduction
306(1)
Regional Pollutants
307(7)
Acid Rain
307(1)
Example 15.1 Adirondack Acidification
308(3)
Example 15.2 The Sulfur Allowance Program
311(2)
Example 15.3 Why and How Do Environmentalists Buy Pollution?
313(1)
Global Pollutants
314(14)
Ozone Depletion
314(2)
Climate Change
316(1)
Example 15.4 Tradable Permits for Ozone-Depleting Chemicals
317(3)
Negotiations over Climate Change Policy Options
320(1)
Debate 15.1 Should Carbon Sequestration in the Terrestrial Biosphere Be Credited?
320(1)
International Agreements on Climate Change
321(2)
Example 15.5 The European Emissions Trading Scheme (EU ETS)
323(1)
Complementary Strategies
323(1)
The Case for Emissions Trading
324(1)
Controversies
325(1)
Debate 15.2 Is Global Greenhouse Gas Trading Immoral?
325(1)
The Timing of Policy
326(1)
Creating Incentives for Participation in Climate Change Agreements
327(1)
Summary
328(6)
Key Concepts
329(1)
Further Reading
330(1)
Additional References
330(3)
Discussion Questions
333(1)
Transportation
334(25)
Introduction
334(2)
The Economics of Mobile-Source Pollution
336(1)
Implicit Subsidies
336(1)
Externalities
336(1)
The Consequences
337(1)
Policy Toward Mobile Sources
337(6)
Some History
337(2)
Structure of the U.S. Approach
339(3)
Example 16.1 Project XL---The Quest for Effective, Flexible Regulation
342(1)
European Approaches
342(1)
An Economic and Political Assessment
343(5)
Example 16.2 Car Sharing: Better Use of Automotive Capital?
344(1)
Technology Forcing and Sanctions
345(1)
Differentiated Regulation
345(1)
Uniformity of Control
346(1)
The Deterioration of New-Car Emission Rates
346(1)
Lead Phaseout Program
347(1)
Possible Reforms
348(6)
Example 16.3 Getting the Lead Out: The Lead Phaseout Program
348(1)
Fuel Taxes
349(1)
Congestion Pricing
350(1)
Example 16.4 Innovative Mobile-Source Pollution Control Strategies: Singapore
351
Private Toll Roads
350(1)
CAFE Standards
350(2)
Debate 16.1 CAFE Standards or Fuel Taxes?
352(1)
Parking Cash Outs
352(1)
Feebates
352(1)
Pay-As-You-Drive (PAYD) Insurance
353(1)
Example 16.5 Modifying Car Insurance as an Environmental Strategy
353(1)
Accelerated Retirement Strategies
354(1)
Example 16.6 Counterproductive Policy Design
355
Summary
354(5)
Key Concepts
356(1)
Further Reading
356(1)
Additional References
357(1)
Discussion Questions
358(1)
Water Pollution
359(27)
Introduction
359(1)
The Nature of Water Pollution Problems
360(5)
Types of Waste-Receiving Water
360(1)
Sources of Contamination
360(1)
Example 17.1 Incidents of Groundwater Pollution
361(1)
Types of Pollutants
362(3)
Water Pollution Control Policy
365(5)
Traditional Water Pollution Control Policy
365(1)
Early Legislation
365(1)
Subsequent Legislation
366(2)
The TMDL Program
368(1)
The Safe Drinking Water Act
368(1)
Ocean Pollution
369(1)
Private Enforcement
369(1)
Efficiency and Cost-Effectiveness
370(12)
Ambient Standards and the Zero Discharge Goal
370(1)
National Effluent Standards
371(3)
Example 17.2 Effluent Trading and the Cost of Reducing Waste Treatment Discharges into Long Island Sound
374(1)
Municipal Waste Treatment Subsidies
375(1)
Pretreatment Standards
376(1)
Nonpoint Pollution
376(1)
Example 17.3 Cost-Effective Pretreatment Standards
377(1)
Oil Spills
378(1)
Example 17.4 Anatomy of an Oil Spill Suit: The Amoco Cadiz
379(1)
Citizen Suits
380(1)
An Overall Assessment
380(2)
Summary
382(4)
Key Concepts
382(1)
Further Reading
383(1)
Additional References
383(2)
Discussion Questions
385(1)
Solid Waste and Recycling
386(20)
Introduction
386(1)
Efficient Recycling
386(4)
Extraction and Disposal Costs
386(1)
Example 18.1 Population Density and Recycling: The Japanese Experience
387(1)
Recycling: A Closer Look
388(1)
Example 18.2 Lead Recycling
389(1)
Waste Disposal and Pollution Damage
390(8)
Disposal Costs and Efficiency
390(1)
The Disposal Decision
390(2)
Disposal Costs and the Scrap Market
392(1)
Subsidies on Raw Materials
392(1)
Corrective Public Policies
392(1)
Example 18.3 Pricing Trash in Marietta, Georgia
393(2)
Pollution Damage
395(1)
Example 18.4 Implementing the Take-Back Principle
396(1)
Tax Treatment of Minerals
397(1)
Product Durability
398(3)
Functional Obsolescence
398(1)
Fashion Obsolescence
399(1)
Durability Obsolescence
399(2)
Summary
401(5)
Example 18.5 The Bet
402(1)
Key Concepts
403(1)
Further Reading
403(1)
Additional References
404(1)
Discussion Questions
405(1)
Toxic Substances and Hazardous Wastes
406(28)
Introduction
406(1)
The Nature of Toxic Substance Pollution
407(3)
Health Effects
407(1)
Policy Issues
408(2)
Market Allocations and Toxic Substances
410(3)
Occupational Hazards
410(1)
Example 19.1 Susceptible Populations in the Hazardous Workplace
411(1)
Product Safety
412(1)
Third Parties
413(1)
Current Policy
413(7)
Common Law
413(1)
Example 19.2 Judicial Remedies in Toxic Substance Control: The Kepone Case
414(1)
Criminal Law
415(1)
Statutory Law
416(4)
International Agreements
420(1)
An Assessment of the Legal Remedies
420(8)
The Common Law
420(1)
Example 19.3 Regulating through Mandatory Disclosure: The Case of Lead
421(4)
The Statutory Law
425(1)
Example 19.4 Weighing the Risks: Food Additives
426(2)
Performance Bonds: An Innovative Proposal
428(1)
Example 19.5 Performance Bonds for Brominated Flame Retardants
429
Summary
428(6)
Key Concepts
430(1)
Further Reading
430(1)
Additional References
431(2)
Discussion Questions
433(1)
Development, Poverty, and the Environment
434(25)
Introduction
434(1)
The Growth Process
435(7)
The Nature of the Process
435(1)
Potential Sources of Reduced Growth
436(2)
The Natural Resource Curse
438(1)
Example 20.1 The ``Natural Resource Curse'' Hypothesis
439
Environmental Policy
438(2)
Example 20.2 Jobs versus the Environment: What Is the Evidence?
440(1)
Energy
440(2)
Outlook for the Near Future
442(1)
Population Impacts
442(1)
The Information Economy
442(1)
The Growth-Development Relationship
443(5)
Conventional Measures
443(2)
Alternative Measures
445(3)
Growth and Poverty: The Industrialized Nations
448(1)
The Effects on Income Inequality
448(1)
Poverty in the Less Industrialized Nations
449(5)
The Appropriateness of the Traditional Model
450(1)
Barriers to Development
451(3)
Summary
454(5)
Key Concepts
455(1)
Further Reading
456(1)
Additional References
456(2)
Discussion Questions
458(1)
The Quest for Sustainable Development
459(34)
Introduction
459(1)
Sustainability and Development
460(13)
Market Allocations
462(1)
Efficiency and Sustainability
463(1)
Example 21.1 Resource Depletion and Economic Sustainability: Malaysia
464(2)
Trade and the Environment
466(3)
Example 21.2 Has NAFTA Improved the Environment in Mexico?
469(3)
Debate 21.1 Should an Importing Country Be Able to Use Trade Restrictions to Influence Harmful Fishing Practices in an Exporting Nation?
472(1)
A Menu of Opportunities
473(2)
Agriculture
473(1)
Energy
474(1)
Waste Reduction
474(1)
Managing the Transition
475(9)
Prospects for International Cooperation
476(1)
Example 21.3 Controlling Land Use Development with TDRs
477(1)
Opportunities for Cooperation
478(1)
Restructuring Incentives
479(5)
Forced Transition
484(3)
Defining the Target
484(1)
Example 21.4 Disclosure Strategies for Pollution Control in Indonesia
485(1)
Institutional Structure
485(2)
Administration
487(1)
Summary
487(6)
Key Concepts
488(1)
Further Reading
489(1)
Additional References
489(3)
Discussion Questions
492(1)
Visions of the Future Revisited
493(11)
Addressing the Issues
493(11)
Conceptualizing the Problem
494(1)
Institutional Responses
495(1)
Example 22.1 Private Incentives for Sustainable Development: Can Adopting Sustainable Practices Be Profitable?
496(2)
Sustainable Development
498(3)
Example 22.2 Public/Private Partnerships: The Kalundborg Experience
501(1)
A Concluding Comment
502(1)
Key Concept
503(1)
Discussion Questions
503(1)
Glossary504(16)
Index520

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