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Environmental Economics and Policy : A Modern Approach

ISBN: 9780321011428 | 0321011422
Format: Paperback
Publisher: Pearson College Div
Pub. Date: 8/1/1997

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Table of Contents
Prefacexiii
CHAPTER 1 VISIONS OF THE FUTURE
1(14)
Introduction
1(2)
... MOREThe Self-Extinction Premise
1(2)
Environmental and Natural Resource Economics
3(1)
Thinking About the Future
3(1)
The Basic Pessimist Model
3(4)
Conclusions of the Pessimist Model
4(2)
The Nature of the Model
6(1)
The Basic Optimist Model
7(3)
Conclusions of the Optimist Model
8(1)
The Nature of the Model
8(2)
The Road Ahead
10(2)
The Issues
10(1)
An Overview of the Book
11(1)
Summary
12(1)
Further Reading
13(1)
Additional References
13(1)
Discussion Questions
13
EXAMPLE 1.1 The Dangers of Prognostication
4(11)
CHAPTER 2 THE ECONOMICS PERSPECTIVE
15(21)
Introduction
15(1)
The Human Environment Relationship
16(2)
The Environment as an Asset
16(2)
Valuing the Asset
18(1)
Distinguishing Good Outcomes from Bad
18(16)
Static Efficiency
19(5)
Dynamic Efficiency
24(6)
Sustainability
30(2)
Alternative Interpretations of Sustainability
32(2)
Summary
34(1)
Further Reading
34(1)
Additional References
35(1)
Discussion Questions
35
EXAMPLE 2.1 Nature Knows Best
19(17)
CHAPTER 3 RIGHTS, RENTS, AND REMEDIES
36(23)
Introduction
36(1)
Property Rights
37(5)
Property Rights and the Environment
37(1)
Efficient Property-Right Structures
37(3)
Scarcity Rent
40(2)
Externalities as a Source of Market Failure
42(6)
Other Property-Rights Regimes
43(2)
Public Goods
45(3)
Imperfect Market Structures
48(1)
Divergence of Social and Private Discount Rates
48(2)
Government Failure
50(5)
The Pursuit of Efficiency
52(1)
Private Resolution Through Negotiation
52(1)
The Courts: Property Rules and Liability Rules
52(3)
Legislative and Executive Regulation
55(1)
An Efficient Role for Government
55(1)
Summary
56(1)
Further Reading
57(1)
Additional References
57(1)
Discussion Questions
58
EXAMPLE 3.1 Pollution in Centrally Planned Economies
38(9)
EXAMPLE 3.2 Public Goods Privately Provided: The Nature Conservancy
47(4)
EXAMPLE 3.3 Religion as the Source of Environmental Problems
51(8)
CHAPTER 4 VALUING THE ENVIRONMENT
59(24)
Introduction
59(1)
Benefit-Cost Analysis
60(16)
The Decision Rules
60(1)
Measuring Benefits
61(9)
Approaches to Cost Estimation
70(1)
The Treatment of Risk
71(2)
Choosing the Discount Rate
73(2)
A Critical Appraisal
75(1)
Cost-Effectiveness Analysis
76(1)
Impact Analysis
77(2)
Summary
79(1)
Further Reading
80(1)
Additional References
81(1)
Discussion Questions
82
EXAMPLE 4.1 Choosing Between Preservation and Development in Australia
63(6)
EXAMPLE 4.2 Valuing the Northern Spotted Owl
69(5)
EXAMPLE 4.3 The Importance of the Discount Rate
74(4)
EXAMPLE 4.4 NO(2) Control in Chicago: An Example of Cost-Effectiveness Analysis
78(5)
CHAPTER 5 THE POPULATION PROBLEM
83(23)
Introduction
83(1)
Historical Perspective
84(2)
World Population Growth
84(1)
Population Growth in the United States
85(1)
Effects of Population Growth on Economic Development
86(7)
Effects of Economic Development on Population Growth
93(1)
The Economic Approach to Population Control
94(9)
Summary
103(1)
Further Reading
104(1)
Additional References
104(1)
Discussion Questions
105
EXAMPLE 5.1 The Value of an Averted Birth
96(4)
EXAMPLE 5.2 Fertility Decline in Korea: A Case Study
100(2)
EXAMPLE 5.3 Income-Generating Activities as Fertility Control: Bangladesh
102(4)
CHAPTER 6 NATURAL RESOURCE ECONOMICS: AN OVERVIEW
106(14)
Introduction
106(1)
A Resource Taxonomy
107(4)
Efficient Intertemporal Allocations
111(4)
The Two-Period Model Revisited
112(1)
The N-Period Mode
112(2)
Transition to a Renewable Substitute
114(1)
Exploration and Technological Progress
115(1)
Market Allocations
115(3)
Appropriate Property-Right Structures
116(1)
Environmental Costs
117(1)
Summary
118(1)
Further Reading
118(1)
Additional References
119(1)
Discussion Questions
119
EXAMPLE 6.1 The Pitfalls in Misusing Reserve Data
109(7)
EXAMPLE 6.2 Technological Progress in the Iron Ore Industry
116(4)
CHAPTER 7 ENERGY
120(21)
Introduction
120(2)
Natural Gas: Price Controls
122(3)
Oil: The Cartel Problem
125(5)
Price Elasticity of Demand
126(1)
Income Elasticity of Demand
127(1)
Non-OPEC Suppliers
128(1)
Compatibility of Member Interests
128(2)
Transition Fuels: Environmental Problems
130(3)
Conservation and Load Management
133(3)
The Long Run
136(2)
Summary
138(1)
Further Reading
138(1)
Additional References
139(1)
Discussion Questions
140
EXAMPLE 7.1 Price Controls and Substitution Bias
124(3)
EXAMPLE 7.2 Are "Soft Energy" Paths Doomed?
127(14)
CHAPTER 8 WATER
141(19)
Introduction
141(1)
The Potential for Water Scarcity
142(2)
The Efficient Allocation of Scarce Water
144(1)
Surface Water
144(1)
Groundwater
145(1)
The Current Allocation System
145(5)
Riparian and Prior Appropriation Doctrines
145(2)
Sources of Inefficiency
147(3)
Potential Remedies
150(6)
Summary
156(1)
Further Reading
157(1)
Additional References
158(1)
Discussion Questions
159
EXAMPLE 8.1 Using Economic Principles to Conserve Water in California
151(2)
EXAMPLE 8.2 Protecting Instream Uses Through Acquiring Water Rights
153(3)
EXAMPLE 8.3 Politics and the Pricing of Scarce Water
156(4)
CHAPTER 9 AGRICULTURE
160(22)
Introduction
160(1)
Global Scarcity
161(10)
Examining Global Scarcity
162(3)
Outlook for the Future
165(4)
The Role of Agricultural Policies
169(1)
A Summing Up
170(1)
Distribution of Food Resources
171(7)
Defining the Problem
171(1)
Domestic Production in LDCs
172(1)
The Undervaluation Bias
173(3)
Feeding the Poor
176(2)
Feast and Famine Cycles
178(2)
Summary
180(1)
Further Reading
180(1)
Additional References
181(1)
Discussion Questions
181
EXAMPLE 9.1 The Price Responsiveness of Supply: Thailand
174(1)
EXAMPLE 9.2 Perverse Government Intervention: The Case of Colombia
175(3)
EXAMPLE 9.3 The Distribution Dilemma: India's Green Revolution
178(4)
CHAPTER 10 FORESTS
182(20)
Introduction
182(2)
Defining Efficient Management
184(5)
Special Attributes of the Forest
184(1)
The Biological Dimension
184(1)
The Economics of Forest Harvesting
185(3)
Sustainable Forestry
188(1)
Sources of Inefficiency
189(4)
Global Inefficiencies
189(1)
Poverty and Debt
190(1)
Perverse Incentives
191(2)
Implementing Efficient Management
193(5)
Summary
198(2)
Further Reading
200(1)
Additional References
200(1)
Discussion Questions
201
EXAMPLE 10.1 Externalities in Forest Management: Waldsterben
191(6)
EXAMPLE 10.2 Success Stories in Conserving Tropical Forests
197(1)
EXAMPLE 10.3 The International Tropical Timber Agreement
198(1)
EXAMPLE 10.4 Trust Funds for Conservation
199(3)
CHAPTER 11 WILDLIFE
202(22)
Introduction
202(1)
Efficient Harvests
203(4)
The Biological Dimension
203(2)
Static-Efficient Sustained Yield
205(2)
Appropriability and Market Solutions
207(2)
Public Policy Toward Fisheries
209(11)
Aquaculture
210(2)
Raising the Real Cost of Fishing
212(2)
Taxes
214(1)
Individual Transferable Quotas (ITQs)
215(4)
The 200-Mile Limit
219(1)
Extensions to Other Species
220(1)
Summary
221(1)
Further Reading
222(1)
Additional References
222(1)
Discussion Questions
223
EXAMPLE 11.1 Property Rights and Fisheries: Oysters
208(2)
EXAMPLE 11.2 Free-Access Harvesting of the Minke Whale
210(1)
EXAMPLE 11.3 Harbor Gangs of Maine
211(5)
EXAMPLE 11.4 Efficient vs. Market Exploitation of Lobsters
216(4)
EXAMPLE 11.5 Local Approaches to Wildlife Protection: Zimbabwe
220(4)
CHAPTER 12 ENVIRONMENTAL ECONOMICS: AN OVERVIEW
224(19)
Introduction
224(1)
A Pollutant Taxonomy
225(1)
Defining the Efficient Allocation of Pollution
226(2)
Fund Pollutants
226(2)
Market Allocation of Pollution
228(2)
Efficient Policy Responses
230(1)
Cost-Effective Policies for Emission Reduction
231(6)
Defining a Cost-Effective Allocation
231(1)
Cost-Effective Pollution Control Policies
232(1)
Emission Standards
233(1)
Emission Charges
233(3)
Transferable Emission Permits
236(1)
Other Policy Dimensions
237(2)
Summary
239(1)
Further Reading
240(1)
Additional References
241(1)
Discussion Questions
242
EXAMPLE 12.1 Energy-Demand Uncertainty and the Cost of Being Wrong: Permits vs. Charges
239(4)
CHAPTER 13 STATIONARY-SOURCE LOCAL AIR POLLUTION
243(24)
Introduction
243(1)
Conventional Pollutants
244(10)
The Command-and-Control Policy Framework
244(3)
The Efficiency of the Command-and-Control Approach
247(4)
Cost-Effectiveness of the Command-and-Control Approach
251(2)
Air Quality
253(1)
Innovative Approaches
254(10)
The Emissions Trading Program
254(2)
Smog Trading
256(1)
The Effectiveness of Emissions Trading
256(3)
Emission Charges
259(1)
Hazardous Pollutants
260(4)
Emissions Fees
264(1)
Summary
264(1)
Further Reading
265(1)
Additional References
265(1)
Discussion Questions
266
EXAMPLE 13.1 Net Benefit Analysis of the Particulate Ambient Standard
249(6)
EXAMPLE 13.2 The Bubble and Offset Policies in Action
255(8)
EXAMPLE 13.3 Efficient Regulation of Hazardous Pollutants: The Benzene Case
263(4)
CHAPTER 14 ACID RAIN AND ATMOSPHERIC MODIFICATION
267(23)
Introduction
267(1)
Regional Pollutants
268(8)
Acid Rain
268(8)
Global Pollutants
276(11)
Ozone Depletion
276(3)
Global Warming
279(8)
Summary
287(1)
Further Reading
288(1)
Additional References
289
EXAMPLE 14.1 Adirondack Acidification
270(4)
EXAMPLE 14.2 The Sulfur Allowance Program
274(1)
EXAMPLE 14.3 Why and How Do Environmentalists Buy Pollution?
275(5)
EXAMPLE 14.4 Tradeable Permits for Ozone-Depleting Chemicals
280(2)
EXAMPLE 14.5 Ethics, Risk Aversion, and the Greenhouse Effect
282(8)
CHAPTER 15 TRANSPORTATION
290(23)
Introduction
290(2)
The Economics of Mobile-Source Pollution
292(2)
Implicit Subsidies
292(1)
Externalities
292(1)
The Consequences
293(1)
Policy Toward Mobile Sources
294(4)
Some History
294(1)
Structure of the U.S. Approach
295(3)
European Approaches
298(1)
An Economic and Political Assessment
298(9)
Technology Forcing and Sanctions
299(1)
Differentiated Regulation
300(1)
Uniformity of Control
300(2)
The Deterioration of New-Car Emission Rates
302(2)
Lead Phaseout Program
304(1)
Alternative Fuels
305(1)
Air Quality
306(1)
Possible Reforms
307(3)
Summary
310(1)
Further Reading
311(1)
Additional References
312(1)
Discussion Questions
312
EXAMPLE 15.1 Setting the National Automobile Emission Standards
301(4)
EXAMPLE 15.2 Getting the Lead Out: The Lead Phaseout Program
305(3)
EXAMPLE 15.3 Innovative Mobile-Pollution Control Strategies: Singapore and Hong Kong
308(1)
EXAMPLE 15.4 Counterproductive Policy Design
309(4)
CHAPTER 16 WATER POLLUTION
313(26)
Introduction
313(1)
Nature of Water Pollution Programs
314(4)
Types of Waste-Receiving Water
314(1)
Sources of Contamination
314(2)
Types of Pollutants
316(2)
Water Pollution Control Policy
318(5)
Traditional Water Pollution Control Policy
318(1)
Early Legislation
319(1)
Subsequent Legislation
320(1)
The Safe Drinking Water Act
321(1)
Ocean Pollution
322(1)
Private Enforcement
323(1)
Efficiency and Cost-Effectiveness
323(12)
Ambient Standards and the Zero Discharge Goal
323(1)
National Effluent Standards
324(4)
Municipal Waste Treatment Subsidies
328(1)
Pretreatment Standards
329(1)
Nonpoint Pollution
329(2)
Oil Spills
331(2)
Citizen Suits
333(1)
An Overall Assessment
334(1)
Summary
335(1)
Further Reading
336(1)
Additional References
336(2)
Discussion Questions
338
EXAMPLE 16.1 Incidents of Groundwater Pollution
315(12)
EXAMPLE 16.2 Marketable Emission Permits on the Fox River
327(3)
EXAMPLE 16.3 Cost-Effective Pretreatment Standards
330(2)
EXAMPLE 16.4 Anatomy of an Oil Spill Suit: The Amoco Cadiz
332(7)
CHAPTER 17 SOLID WASTE AND RECYCLING
339(20)
Introduction
339(1)
Efficient Recycling
340(2)
Extraction and Disposal Costs
340(1)
Recycling: A Closer Look
341(1)
Waste Disposal and Pollution Damage
342(8)
Disposal Costs and Efficiency
342(1)
The Disposal Decision
342(3)
Disposal Costs and the Scrap Market
345(1)
Public Policies
345(3)
Pollution Damage
348(2)
Product Durability
350(5)
Functional Obsolescence
352(1)
Fashion Obsolescence
352(1)
Durability Obsolescence
353(2)
Summary
355(1)
Further Reading
356(1)
Additional References
357(1)
Discussion Questions
358
EXAMPLE 17.1 Population Density and Recycling: The Japanese Experience
341(2)
EXAMPLE 17.2 Lead Recycling
343(6)
EXAMPLE 17.3 Implementing the "Take-Back" Principle
349(6)
EXAMPLE 17.4 The Bet
355(4)
CHAPTER 18 TOXIC SUBSTANCES AND HAZARDOUS WASTES
359(28)
Introduction
359(1)
Nature of Toxic Substance Pollution
360(4)
Health Effects
361(1)
Policy Issues
362(2)
Market Allocations and Toxic Substances
364(4)
Occupational Hazards
364(2)
Product Safety
366(1)
Third Parties
367(1)
Current Policy
368(7)
Common Law
368(2)
Criminal Law
370(1)
Statutory Law
371(3)
International Agreements
374(1)
An Assessment of the Legal Remedies
375(9)
The Common Law
375(4)
The Statutory Law
379(3)
Assurance Bonds: An Innovative Proposal
382(2)
Summary
384(1)
Further Reading
385(1)
Additional References
385(1)
Discussion Questions
386
EXAMPLE 18.1 Susceptible Populations in the Hazardous Workplace
365(4)
EXAMPLE 18.2 Judicial Remedies in Toxic Substance Control: The Kepone Case
369(11)
EXAMPLE 18.3 Weighing the Risks: Saccharin
380(3)
EXAMPLE 18.4 Performance Bonds for Brominated Flame Retardants
383(4)
CHAPTER 19 DEVELOPMENT, POVERTY, AND THE ENVIRONMENT
387(24)
Introduction
387(2)
The Growth Process
389(6)
Nature of the Process
389(1)
Potential Sources of Reduced Growth
389(3)
Environmental Policy
392(1)
Energy
393(2)
Outlook for the Near Future
395(1)
Population Impacts
395(1)
The Information Economy
396(1)
The Growth-Development Relationship
396(5)
Conventional Measures
397(2)
Alternative Measures
399(2)
Growth and Poverty: The Industrialized Nations
401(2)
The Effects on Income Inequality
402(1)
Poverty in the Less Industrialized Nations
403(5)
The Appropriateness of the Traditional Model
404(1)
Barriers to Development
405(3)
Summary
408(1)
Further Reading
409(1)
Additional References
409(1)
Discussion Questions
410
EXAMPLE 19.1 Does Money Buy Happiness?
402(9)
CHAPTER 20 THE QUEST FOR SUSTAINABLE DEVELOPMENT
411(28)
Introduction
411(1)
Sustainability and Development
412(6)
Market Allocations
414(1)
Efficiency and Sustainability
415(3)
Trade and the Environment
418(1)
A Menu of Opportunities
419(3)
Agriculture
420(1)
Energy
421(1)
Waste Reduction
422(1)
Managing the Transition
422(9)
Prospects for International Cooperation
424(1)
Opportunities for Cooperation
425(1)
Restructuring Incentives
426(5)
Forced Transition
431(4)
Defining the Target
432(1)
Institutional Structure
433(1)
Administration
434(1)
Summary
435(1)
Further Reading
436(1)
Additional References
437(1)
Discussion Questions
437
EXAMPLE 20.1 Sustainable Development: Three Success Stories
423(9)
EXAMPLE 20.2 Reputational Strategies for Pollution Control in Indonesia
432(7)
CHAPTER 21 VISIONS OF THE FUTURE REVISITED
439(9)
Addressing the Issues
439(9)
Conceptualizing the Problem
440(1)
Institutional Responses
441(3)
Sustainable Development
444(3)
A Concluding Comment
447(1)
INDEX448

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