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Environmental Economics and Policy

by: Tietenberg, Tom; Lewis, Lynne

Environmental Economics and Policy

by: Tietenberg, Tom; Lewis, Lynne

ISBN 13:
9780321348906
ISBN 10:
0321348907
Edition: 5th
Format: Paperback
Copyright: 01/01/2010
Publisher: Prentice Hall
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Summary

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 todayrs"s policy issues, and the latest research integrated throughout, The Fifth Edition represents the most thorough revision in over a decade.

Preface

xviii

Visions of the Future

(12)

Introduction

(1)

The Self-Extinction Premise

(1)

Future Environmental Challenges

(2)

Climate Change

(1)

Example 1.1 Historical Examples of Self-Extinction

(1)

Water Accessibility

(1)

Meeting the Challenges

(1)

How Will Societies Respond?

(1)

The Role of Economics

(1)

The Use of Models

(1)

Debate 1.1 Ecological Economics versus Environmental Economics

(1)

The Road Ahead

(3)

Debate 1.2 What Does the Future Hold?

(1)

The Issues

(1)

An Overview of the Book

(1)

Summary

(3)

Key Concepts

(1)

Further Reading

(1)

Additional References

(1)

Discussion Questions

(1)

Valuing the Environment: Concepts

(18)

Introduction

(1)

The Human Environment Relationship

(3)

The Environment as an Asset

(2)

The Economic Approach

(1)

Normative Criteria for Decision Making

(8)

Evaluating Predefined Options

(2)

Debate 2.1 Should Humans Place an Economic Value on the Environment?

(2)

Example 2.1 Valuing Ecological Services from Preserved Tropical Forests

(4)

Finding the Optimal Outcome

(2)

Static Efficiency

(1)

Dynamic Efficiency

(1)

Applying the Concepts

(3)

Pollution Control

(1)

Example 2.2 Does Reducing Pollution Make Economic Sense?

(1)

Preservation versus Development

(1)

Example 2.3 Choosing Between Preservation and Development in Australia

(1)

Summary

(2)

Key Concepts

(1)

Further Reading

(1)

Discussion Question

(1)

Valuing the Environment: Methods

(28)

Introduction

(1)

Risk Assessment

(1)

Valuing Benefits for Risk Management

(18)

Types of Values

(1)

Classifying Valuation Methods

(1)

Example 3.1 Valuing the Northern Spotted Owl

(4)

Example 3.2 Valuing Damage from Groundwater Contamination Using Averting Expenditures

(2)

Example 3.3 Valuing Diesel Odor Reduction by Contingent Ranking

(1)

Example 3.4 The Value of Wildlife Viewing

(1)

Debate 3.1 Is Placing a Monetary Value on Human Life Immoral?

(2)

Issues in Benefit Estimation

(1)

Approaches to Cost Estimation

(1)

The Treatment of Risk

(2)

Choosing the Discount Rate

(1)

Example 3.5 The Historical Importance of the Discount Rate

(1)

A Critical Appraisal

(1)

Cost-Effectiveness Analysis

(2)

Impact Analysis

(1)

Example 3.6 NO2 Control in Chicago: An Example of Cost-Effectiveness Analysis

(1)

Summary

(6)

Key Concepts

(1)

Further Reading

(1)

Additional References

(3)

Discussion Questions

(1)

Property Rights, Externalities, and Environmental Problems

(25)

Introduction

(1)

Property Rights

(4)

Property Rights and Efficient Market Allocations

(1)

Efficient Property Right Structures

(1)

Example 4.1 Pollution in Centrally Planned Economies

(3)

Producer's Surplus, Scarcity Rent, and Long-Run Competitive Equilibrium

(1)

Externalities as a Source of Market Failure

(2)

The Concept Introduced

(2)

Types of Externalities

(1)

Incentives and Property Rights Systems

(7)

Other Property Rights Regimes

(1)

Example 4.2 Shrimp Farming Externalities in Thailand

(3)

Public Goods

(2)

Example 4.3 Public Goods Privately Provided: The Nature Conservancy

(1)

Imperfect Market Structures

(1)

Divergence of Social and Private Discount Rates

(2)

Government Failure

(1)

The Pursuit of Efficiency

(4)

Private Resolution through Negotiation

(1)

The Courts: Property Rules and Liability Rules

(2)

Legislative and Executive Regulation

(1)

An Efficient Role for Government

(1)

Summary

(4)

Key Concepts

(1)

Further Reading

(1)

Additional References

(1)

Discussion Questions

(1)

Sustainable Development: Defining the Concept

(14)

Introduction

(1)

A Two-Period Model

(4)

Defining Intertemporal Fairness

(1)

Are Efficient Allocations Fair?

(2)

Example 5.1 The Alaskan Permanent Fund

(1)

Applying the Sustainability Criterion

(2)

Example 5.2 Nauru: Weak Sustainability in the Extreme

(1)

Implications for Environmental Policy

(1)

Summary

(4)

Key Concepts

(1)

Further Reading

(1)

Additional References

(1)

Discussion Question

(1)

The Population Problem

(24)

Introduction

(1)

Historical Perspective

(3)

World Population Growth

(1)

Population Growth in the United States

(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)

Glossary

504

(16)

Index

520

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Environmental Economics and Policy

Environmental Economics and Policy

9780321348906

0321348907

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Environmental Economics and Policy

Environmental Economics and Policy

9780321348906

0321348907

Summary

Table of Contents

Supplemental Materials

Write a Review

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