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Encyclopedia of Energy, Natural Resource, and Environmental Economics
 
 

Encyclopedia of Energy, Natural Resource, and Environmental Economics, 1st Edition

 
Encyclopedia of Energy, Natural Resource, and Environmental Economics, 1st Edition,Jason Shogren,ISBN9780123750679
 
 
 

J Shogren   

Elsevier Science

9780123750679

9780080964522

1056

The only reference work that codifies the relationships among three important subdisciplines of economics: energy economics, resource economics and environmental economics. Understanding these relationships just became simpler!

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Key Features

  • The only reference work that codifies the relationships among the three subdisciplines: energy economics, resource economics and environmental economics. Understanding these relationships just became simpler!

  • Nobel Prize Winning Editor-in-Chief (joint recipient 2007 Peace Prize), Jason Shogren, has demonstrated excellent team work again, by coordinating and steering his Editorial Board to produce a cohesive work that guides the user seamlessly through the diverse topics.

  • This work contains in equal parts information from and about business, academic, and government perspectives and is intended to serve as a tool for unifying and systematizing research and analysis in business, universities, and government.

 

Description

Every decision about energy involves its price and cost.  The price of gasoline and the cost of buying from foreign producers; the price of nuclear and hydroelectricity and the costs to our ecosystems; the price of electricity from coal-fired plants and the cost to the atmosphere.  Giving life to inventions, lifestyle changes, geopolitical shifts, and things in-between, energy economics is of high interest to Academia, Corporations and Governments. 

For economists, energy economics is one of three subdisciplines which, taken together, compose an economic approach to the exploitation and preservation of natural resources:

  • energy economics, which focuses on energy-related subjects such as renewable energy, hydropower, nuclear power, and the political economy of energy
  • resource economics, which covers subjects in land and water use, such as mining, fisheries, agriculture, and forests
  • environmental economics, which takes a broader view of natural resources through economic concepts such as risk, valuation, regulation, and distribution

Although the three are closely related, they are not often presented as an integrated whole. This Encyclopedia has done just that by unifying these fields into a high-quality and unique overview.

Readership

University and research libraries, especially with collections in economics or earth sciences; corporations engaged in these utility services: electric power, natural gas, steam supply, water supply, and sewage removal; and government agencies regulating these utilities in the generation, transmission, and distribution of energy and the treatment of waste.

Jason Shogren

Jason Shogren is the Stroock Professor of Natural Resource Conservation and Management and Chair of the Department of Economics and Finance at the University of Wyoming, his alma mater. He works on the economics of environmental and natural resource policy. Shogren is a foreign member of the Royal Swedish Academy of Sciences, and has served as professor to the King of Sweden, a lead author for the Intergovernmental Panel on Climate Change, and as a senior economist on the Council of Economic Advisers in the White House. He likes music and fishing.

Photograph © Ted Brummond

Affiliations and Expertise

University of Wyoming, USA

Encyclopedia of Energy, Natural Resource, and Environmental Economics, 1st Edition

Editor in Chief

Section Editors

Editor Biographies

Preface

Permission Acknowledgments

Volume 1: ENERGY

Climate Change and Policy

Carbon Cap and Trade

Cap and Trade Defined

Cap and Trade Versus Tax

Cap-and-Trade Design Principles

Cap-and-Trade Experience

Summary

See also

Further Reading

Glossary

Carbon Offsets

Introduction

Certifying Carbon Offsets: Challenges

Carbon Offsets from Forests Conservation

Further Reading

Relevant Websites

Glossary

Carbon Taxes

Introduction

Carbon Taxes in Practice

Design Issues

Incidence of a Carbon Tax

Instrument Choice

See also

Further Reading

Relevant Websites

Clean Development Mechanism

Introduction: The Organization of the Clean Development Mechanism

The Distribution of CDM Projects According to Region and Type

The CDM: Debated Issues

Conclusion: The Role of the CDM Post Kyoto

See also

Further Reading

Relevant Websites

Glossary

Climate Change and Food Situation*

Food Situation

What’s Expected with Climate Change?

Climate Change Impacts on Agriculture and Food

Mitigation Policies and Their Impacts on Agriculture and Food

Conclusion

See also

Further Reading

Relevant Websites

Glossary Terms

Dealing with the Uncertainty About Climate Change

Sources of Uncertainty

Addressing Uncertainty in Climate Change

The Implications of Uncertainty

See also

Further Reading

Glossary

Double Dividend

Introduction

The Tax Interaction Effect

Interpreting the Tax Interaction Findings

Double Dividends for Special Cases

Summary and Conclusions

See also

Further Reading

Economics of Forest Carbon Sequestration as a Climate Change Mitigation Strategy

Forest Carbon-Supply Function

Carbon Supply on the Intensive Margin

Forest Carbon Supply on the Extensive Margin

Critical Implementation Issues

Further Reading

Glossary

Intergovernmental Panel on Climate Change (IPCC)

Introduction

Establishment of the IPCC

Structure of the IPCC

IPCC Publications

IPCC Procedures

The IPCC Reform Process

The Science and Policy Interface

The AR5 – Current Challenges

Conclusions

Further Reading

Glossary

International Climate Treaties and Coalition Building

Introduction

Basic Features of International Environmental Treaties and Coalition Building

Designing the Rules of the Game

The Enlargement of Coalitions

The Full Potential of Transfers

Issue Linkage

Conclusions

See also

Further Reading

Glossary

Markets/Technology Innovation/Adoption/Diffusion

Diffusion of Energy-Efficient Technologies

Introduction

Diffusion Theory

Determinants of the Adoption of EETs

From Adoption to Diffusion: The Time Dimension, Feedback Loops, and Diffusion Dynamics

Technology Case Studies

Conclusions

See also

Further Reading

Glossary

Energy-Efficiency Gap*

Overview

Underlying Economic Theory

Is There Really an Energy-Efficiency Gap?

Arguments Against the Existence of an Energy-Efficiency Gap

Arguments Supporting the Existence of an Energy-Efficiency Gap

Summary

See also

Further Reading

Glossary

Impacts of Innovation: Lessons from the Empirical Evidence

Introduction

Energy and Environment

Diffusion of Innovations

Applied Climate-Economy Models

Conclusions and Further Research

See also

Further Reading

Relevant Websites

Glossary

Modeling Technological Change in Economic Models of Climate Change

Introduction

Technological Change and Economic Modeling

Exogenous Technical Change

Endogenous Technological Change

Conclusion and Suggestions for Future Research

Appendix: Models

Further Reading

Policy Incentives for Energy and Environmental Technological Innovation: Lessons from the Empirical Evidence*

Introduction

‘Pricing’ Pollution and Induced Innovation

Choosing the Instrument

Dealing with Multiple Failures and Barriers

Providing Predictable Signals

Complementing Private Research Efforts

Taking Advantage of International Opportunities

Conclusions and Further Research

See also

Further Reading

Technological Change and Climate Change Policy

Abbreviations

Overview

Technological Change and Climate Change

Market Failures in Low-Carbon Innovation

Policy Instruments to Address Market Failures

Additional Considerations for Climate Policy Design

Summary

See also

Further Reading

Glossary

Technological Change and the Marginal Cost of Abatement

Introduction

Using the MAC Curve

Generating the MAC Curve

Limitations

Conclusion

See also

Further Reading

Relevant Websites

Glossary

Technological Lock-In

Introduction

Technological Lock-In

Institutional Lock-In

Carbon Lock-In

Overcoming Carbon Lock-In

Conclusions and Future Research

See also

Further Reading

Relevant Websites

Glossary

Technology and Environmental Policy

Introduction

Results from Theoretical Models

Results from Econometric Studies

Results from Technology Case Studies

Results from Surveys of Firms

Results from Mixed-Method Studies and Meta-Analysis

Synthesized Findings

Conclusions

Further Reading

Glossary

Non-Renewable Fossil/Nuclear/Electricity Markets

Coal: Prospects in the Twenty-First Century: Exhaustion Trumped by Global Warming?

Coase, Coal, and Coal Regulation

The Coase Conundrum and Global Warming

Conclusion: Festina Lente

Notes on the Literature and Data on Coal

See also

Further Reading

Relevant Websites

Glossary

Economics of Peak Oil

Introduction

How Fast Should We Consume Oil?

How Fast Would Markets Use Oil?

Modeling Peak Oil

The Misplaced Emphasis on Peak Oil

Conclusion

Further Reading

Green Microaccounting for Oil Extraction*

Introduction

Natural and Technological Conditions

Accounting for Optimal Production

Interpretation

Conclusion

Appendix Algebraic Derivation

Further Reading

Modeling Reserve Growth in Natural Gas Fields

Overview

Modeling Field Growth

Summary

See also

Further Reading

Glossary

Natural Gas Networks

Introduction

Elements in the Network

Optimization Horizons

Uncertainty

Concluding Remarks

Further Reading

Price Dynamics in Domestic Energy Markets

Introduction

Theory, Literature, and Baseline Scenario

Electricity Price Dynamics Under Deregulation

Conclusion

Further Reading

Renewable/Alternative Energy

Economic Implications of Wind Power Intermittency

Introduction

Wind Power Technology

Security of Supply

Reliability

Adequacy

Measuring Intermittency

Conclusion

See also

Further Reading

Glossary

Economics of Biofuels: An Overview*

Introduction

Why Biofuels?

Research on Economics of Biofuels

Policy Issues

Conclusions

Further Reading

Economics of Technology Learning in Wind Power*

Introduction

The Single-Factor Learning Curve Approach

Addressing the Impacts of R&D and Returns-to-Scale

The Geographical Domain of Technology Learning and R&D

Endogenous Technology Learning and Diffusion

The Character of the Process of Technological Change

Concluding Remarks and Some Directions for Future Research

See also

Further Reading

Glossary

Economics of Wind Power: An Introduction

Introduction

The Cost of Wind-Generated Electricity

Economic Aspects of Grid Integration and Intermittency

Measuring the Environmental Externalities of Wind Power

Final Comments

See also

Further Reading

Glossary

Hydropower Economics: An Overview

Introduction

The Basic Model for Management of Hydropower

Hydro Together with Other Technologies

Additional Hydropower Issues

See also

Further Reading

Measuring the Environmental Externalities of Offshore Wind Power: The Case of Visual Disamenities

Introduction

Technical Review

The External Costs of Visual Disamenities from Offshore Wind Farms

Heterogeneity in the Visual Disamenity Costs

Conclusion

Further Reading

Glossary

Measuring the Environmental Externalities of Onshore Wind Power

Introduction

Physical Characteristics of a Wind Farm

Externalities

Methods of Measuring Externalities

Final Comments

See also

Further Reading

Relevant Websites

Glossary

Residential Energy Demand

Introduction

Framework

Empirics of Residential Energy Demand

General Policy Implications

Further Reading

Relevant Websites

Glossary

Volume 2: RESOURCES

Media Non-Biological

Economics of Exploration for and Production of Exhaustible Resources

Introduction

Exploration, Reserves, and Resources

A Benchmark Economic Model of an Exhaustible Resource Industry

Exploration, Uncertainty, and Information

Exploration as a Stage in Project Development

Exploration and Resource Scarcity

See also

Further Reading

Relevant Websites

Economics of Groundwater

Evolution of Groundwater Resource Management

Optimal Ordering of Multiple Water Resources

Institutions and Regulatory Issues

Additional Dimensions

See also

Further Reading

Glossary

Economics of Market Power in the Extraction of Nonrenewable Resources

Overview

Scarcity and Market Power

Resource Dependence

Empirical Tests of Market Power

Conclusion

See also

Further Reading

Theory and Practice of Fisheries and Water Economics

Introduction

The Fisheries Problem

Economic Efficiency in a Fishery

Fisheries Management

Ecosystem-Based Management: Reconciling Private and Public Benefits

The Water Scarcity Problem

Water Allocation: The Economic Framework

Water Allocation: Theory and Practice

Concluding Remarks

Further Reading

Glossary

Media: Biological

Economics and Ecology of Open-Access Fisheries

Introduction

Equilibrium Models of Open-Access Fisheries

The Dynamics of an Open-Access Fishery

Ecological Extensions to Classic Open-Access Models

Stochastic Open-Access Models

Conclusion

See also

Further Reading

Glossary

Economics of Agricultural Residuals and Overfertilization: Chemical Fertilizer Use, Livestock Waste, Manure Management, and Environmental Impacts

Introduction

The Problem of Overfertilization

Sources of Overfertilization for Crop Farmers

Livestock Waste from Animal Agriculture

Conclusion

See also

Further Reading

Glossary

Economics of Pest Control*

Introduction

Magnitude of the Problem

Representative Agent Models

Equilibrium Implications of Pest Control Decisions

Summary Remarks

See also

Further Reading

Glossary

Hunting and Exploitation of Terrestrial Animal Species

Introduction

Harvesting and Competing Use of Habitat Land

Conflicting Views on Species Values and Conservation

From Biomass Models to a Stage-Structured Hunting Model

Literature Review

Further Reading

Reducing Emissions from Deforestation and Forest Degradation

Introduction/Background

Drivers of Deforestation and Degradation

The Economics of REDD Implementation

Changing Behavior by Changing Incentives

Beneficiaries of REDD

Leakage, Additionality, and Scale of REDD Policy/Projects

Concluding Remarks

See also

Further Reading

Glossary

Microeconomics

Economic Analysis of Forest Products Markets

Introduction

Stumpage Supply

Markets for Logs and Processed Products

Characteristics and Examples of Forest Sector Models

Continued Advances in Forest Products Market Analysis

See also

Further Reading

Forest Management and Climate Change

Introduction

Impacts

Adaptation

Uncertainty of Outcomes across Space and Time

Conclusions

See also

Further Reading

Glossary

Joint Production of Good and Bad Outputs with a Network Application

Introduction

Good versus Bad Outputs

The Production Technology

Equilibrium

Material Balance Principle

Modeling Good and Bad Outputs in a Network

Network Model versus Joint Production Model

Data

Results

Appendix

Further Reading

Relevant Website

Glossary

Spatial Management of Renewable Natural Resources

Introduction

Spatial Economics Background and Concepts

Renewable Natural Resources

Future Directions for Spatial Resource Management

See also

Further Reading

Voluntary Resource Conservation and Environmental Management in Agriculture and Forestry

Overview

Description of Voluntary Approaches

Motivations for Voluntary Behavior

Effectiveness of Voluntary Programs

Agriculture

Forestry

Summary and Lessons for Improving Effectiveness and Social Welfare

Further Reading

Glossary

Policy Tools

Conservation Easements: Tools for Conserving and Enhancing Ecosystem Services

Overview

About Land Trusts and Conservation Easements

Easements Compared to Traditional Tools

Determinants of Land Trust and Easement Growth

Public Policy Issues

Summary

Further Reading

Glossary

Deforestation and Forest Degradation: Concerns, Causes, Policies, and Their Impacts

Why Worry?

Forest Stocks and Flows

Ongoing Forest Loss

Domestic Development Causes

Domestic Conservation Policies

International Policies

Lessons for Future Policy Initiatives?

Further Reading

Relevant Websites

Exclusive Economic Zone

The Exclusive Economic Zone: What It Is

A Brief History of the Law of the Sea

The UN Conferences on the Law of the Sea

The EEZ and Offshore Petroleum

The EEZ and Fisheries

High Seas Fisheries

Conclusion

Further Reading

Relevant Websites

Glossary

Externality Regulation in Oil and Gas

Introduction

Externalities in Oil and Gas Production

Private Responses

State Regulation

Conclusions

See also

Further Reading

Relevant Websites

Glossary

Fishery Cooperatives as a Management Institution

Overview

The Economics of Fishery Cooperatives

Experiences with Cooperative Fishery Management

Conclusions and Research Directions

See also

Further Reading

Glossary

Forest Taxation

Introduction

Market Failure

Forest Taxation as a Policy Instrument

Forest Taxation in a Selection of Countries

Concluding Remarks

Further Reading

Glossary

Individual Transferable Quotas in Fisheries

Introduction

What Are ITQs?

ITQ Prices

How Do ITQs Work?

Application of ITQs Around the World

See also

Further Reading

International Trade and the Conservation of Renewable Resources*

Introduction

History of International Cooperation on Resource Conservation

The Economics of Renewable Resources and Trade

Implications for Policy

Conclusion

See also

Further Reading

Relevant Websites

Land Use Policies in the United States for Protecting Biodiversity and Ecosystem Services

Introduction

The Essential Role of Private Land in Ecosystem Services and Biodiversity

The ESA

The CRP

Wetlands Mitigation

Conservation Banks and ‘Green Infrastructure’

Conclusions

Further Reading

Relevant Websites

Glossary

Protecting Marine Ecosystems in Fishery Regulation

Overview

A Typology of Fisheries Management Policies to Address Ecosystem Effects of Fishing

Management of Bycatch and Habitat Impacts in Practice

Policies Outside of Fisheries Management – Theory and Practice

Summary

See also

Further Reading

Glossary

Regulated Open Access and Regulated Restricted Access Fisheries

Introduction

ROA Fisheries

Regulated Restricted Access Fisheries

Rights-Based fisheries

Conclusion

See also

Further Reading

Glossary

Taxation of Nonrenewable Resources

Resource Ownership, Licensing, and the Justification for Taxes

Types of Taxes

Other Fiscal Arrangements

Taxes in Hotelling-Type Models

Neutrality and the Scope for Distortions

Some Important Issues

Criteria and Methods for Analyzing Resource Tax Systems

Tax Reform and Political Risk

See also

Further Reading

Glossary

Territorial Use Rights in Fisheries (TURFs)

Introduction

Definition and Characteristics

Types

Criteria for Effectiveness

Case Studies

Conclusion

Further Reading

Glossary

Tree Plantations and Genetics in Forestry

Plantation Forestry

Genetic Improvement and Transgenic Trees

Summary and Conclusions

Further Reading

Glossary

Water Crises, Water Rights, and Water Markets*

Water Crisis

Why the Crises?

The Role of Prices

Conditions for Water Markets

US Water Institutions, East and West

Third-Party Impacts and Transaction Costs

Water Markets at Work

Conclusion

Further Reading

Relevant Websites

Glossary

Theoretical Tools

Carbon Leakage

Introduction

Marginal Benefits Channel

Energy Market Channel

Terms of Trade for Nonenergy Goods

Factor Price Channel

The Role of Technological Change

The Degree of Carbon Leakage

Policy Responses

See also

Further Reading

Glossary

Cartel-versus-Fringe Models

Introduction

The Model

Perfect Competition

Monopoly

Oligopoly Open-Loop Nash Equilibrium

Cartel-Versus-Fringe Open-Loop Nash Equilibrium

The Order of Extraction and Welfare Effects

The Closed-Loop Nash Equilibrium

Cartel-Versus-Fringe Open-Loop Stackelberg Equilibrium

Cartel-Versus-Fringe Closed-Loop Stackelberg Equilibrium

Conclusions

Further Reading

Glossary

Differential Games and Resources

Introduction and Overview

Differential Games: Equilibrium Concepts

Some Applications to Exhaustible Resources

Some Applications to Renewable Resources

Conclusion

See also

Further Reading

Glossary

Diffusion and Spatial Aspects

Introduction

Modeling Spatial Movements

Optimal Control under Diffusion: The Maximum Principle

Pattern Formation

Summary and Conclusions

Further Reading

Relevant Websites

Glossary

Discounting

Introduction

Discounting Under Uncertainty

Extensions

Further Reading

Glossary

Experiments on Common Property Management

Overview

Laboratory Experiments on Common Property Resource Management

Institutions Sustaining Cooperation in CPR Use

The Validity of Laboratory Experiments on Common Property Management

See also

Further Reading

Relevant Websites

Glossary

Games and Resources

Introduction

Public Resources

Private Resources

Private Inputs and Public Outputs

Conclusions

Acknowledgment

See also

Further Reading

Glossary

Green Paradox

Introduction

Climate Policy

Economics of Exhaustible Resources

The Green Paradox

A Weak Green Paradox

Other Green Paradox Mechanisms

Implications for Policy

See also

Further Reading

Glossary

Hartwick’s Rule

Introduction

Illustration in a One-Sector Model

Compensating Resource Depletion

Results in a General Multiple-Capital-Good Technology

Generalizations

Concluding Remarks

See also

Further Reading

Glossary

Optimal Control and Resources

Introduction and Overview

Necessary and Sufficient Conditions for Finite Horizon Optimal Control Problems

Optimal Cleanup of a Hazardous Stock

Necessary and Sufficient Conditions for Autonomous and Discounted Infinite Horizon Optimal Control Problems

A Renewable Resource Extracting Model of a Firm

Summary and Conclusion

See also

Further Reading

Glossary

Option Value and Precaution

Introduction

Formalizing Precaution

Implementing Precaution

Summary and Discussion

See also

Further Reading

Glossary

Regime Shifts and Management

Overview

Understanding Regime Shifts

Impacts of Regime Shifts on Human Well-Being

The Challenges of Regime Shifts

Policies and Management Options for Dealing with Regime Shifts

Summary

See also

Further reading

Relevant Websites

Glossary

Regime Shifts: Early Warnings

Evolution Equations

Regime Shifts in Deterministic Systems

Regime Shifts in Stochastic Systems

Conclusion

See also

Further Reading

Glossary

Volume 3: ENVIRONMENT

Allocation Tools

Bayesian Decision Theory and Climate Change

Introduction

Applying Bayesian Decision Theory to Climate Change

Summary

See also

Further Reading

Glossary

Coasean Bargaining

Introduction

Coasean Bargaining with Friction

Coasean Bargaining in the Laboratory

Coasean Bargaining as Environmental Regulation

Concluding Remarks

See also

Further Reading

Glossary

Environmental and Natural Resource Economics: Decisions Under Risk and Uncertainty

Overview

Decision Making under Risk

Other Important Concepts and Risk or Uncertainty Frameworks

See also

Further Reading

Glossary

Environmental Cost–Benefit Analysis

Overview

A Short History of CBA

Stages of a CBA

An Example of CBA of Hydro Power Regulation

The Strengths and the Weaknesses of Environmental CBA

The Benefits of CBA

What are the Main Challenges to the Individual Component Parts of a CBA?

Challenges to the Overall Approach of CBA

The Future of CBA?

See also

Further Reading

Glossary

Environmental Ethics for Environmental Economists

Environmental Economics – Accomplishments, but also Controversy

Ethics and the Environment

Environmental Economics and Environmental Ethics

For Environmental Economists, a Baby Step in the Right Direction – Accommodating a Little Ethical Pluralism

See also

Further Reading

Relevant Websites

Ethics, Economics, and Decision Rules for Climate Change

Introduction

The Kaldor–Hicks Criterion

Utilitarianism

Rights-Based Ethics

Conclusion

See also

Further Reading

Glossary

Governance of Common-Pool Resources

Introduction

Conventional Theory of the Commons

Case Study Comparison

Experimental Results

Contemporary Theory of Collective Action and the Commons

Going Beyond Panaceas

See also

Further Reading

Relevant Websites

Glossary

Lindahl Pricing for Public Goods and Experimental Auctions for the Environment

Public Goods Problem

Public Good Experiments

Individualized Price Auction – Example

See also

Further Reading

Glossary

Managing Catastrophic Risk

Why Decision Makers Do Not Invest in Protective Measures

Impact of Interdependencies on Investing in Protective Measures

Risk Management Strategies

Conclusions

See also

Further Reading

Glossary

Optimization Across Space

Overview

Spatial Optimization of Resource Management and Policy

Spatial Optimization in Design of Emission Taxes and Tradable Emission Permits

Spatial Variation in Stringency of Standards and Enforcement Activity

Urban Environmental Quality

Conclusion

See also

Further Reading

Glossary

Payments for Ecosystem Services: Mechanisms to Achieve Desired Landscape Patterns

Introduction

PES Schemes for Conserving Spatially Dependent Ecosystem Services

Discussion and Conclusion

See also

Further Reading

Glossary

Property Rights and the Environment

Understanding Property Rights

Negative Externalities and the Lack of Property Rights

Resolving Environmental Conflicts with Property Rights

The Law and Economics of Property Rights and the Environment

Property Rights Solutions to Environmental Problems

Summary

See also

Further Reading

Glossary

Media

Agricultural Sources of Water Pollution

Nature, Extent, and Cost of Agricultural Water Pollution

Economic Considerations

Policy Design

See also

Further Reading

Relevant Websites

Glossary

Economics of Pesticide Use and Regulation

Background

Economics of Evaluating and Improving Agricultural Pest Management

Pesticide Regulation in the United States

Summary

See also

Further Reading

Hazardous Substances

Overview

Hazardous Waste

Accidental Releases

Conclusion

See also

Further Reading

Relevant Websites

Glossary

Local/Regional Air Pollution from Stationary Sources

Introduction

The Effects of Environmental Regulations on Ambient Concentrations of Criteria Pollutants

Estimating the Benefits from Air Quality Improvements: Challenges and Key Results

The Distributional Impacts of Environmental Regulations

Concluding Remarks and Direction for Future Research

Further Reading

Waste Disposal and Recycling

Waste Management and Economic Development

Recent Data Trends

External Costs and External Benefits

A Summary of Policy Approaches and the Related Empirical Literature

Speculating on the Future

Further Reading

Glossary

Water Pollution from Industrial Sources

Extent of Water Pollution from Industrial Sources

Issues Related to Controlling Wastewater-Related Externalities

Types of Policy Approaches

Corporate Environmental Responsibility Efforts to Control Industrial Wastewater

Related Empirical Literature

Summary

See also

Further Reading

Relevant Websites

Glossary

Water Pollution from Oil Spills

Sources of Oil Spills

Impact of Oil Spills

Costs of Oil Spills

Deterring Oil Spills

Economic Theory of Oil Spill Deterrence

Empirical Evidence on Deterring Oil Spills

See also

Further Reading

List of Relevant Websites

Wetlands and Coastal Estuaries

Introduction

Valuing Wetland Goods and Services

Overcoming Measurement Issues

Wetland Valuation and Policy Choices: An Example from Thailand

Restoring and Creating Wetlands

Conclusion

See also

Further Reading

Policies/Incentives

Deposit-Refund Systems in Practice and Theory

Introduction

The Deposit-Refund in Practice

The Deposit-Refund in Theory

Concluding Remarks

See also

Further Reading

Relevant Websites

Glossary

Ecolabeling

Abbreviations

Introduction

Economic Considerations for Ecolabeling

Case Study: The Dolphin-Safe Ecolabel

Conclusion

See also

Further Reading

Glossary

Economics of Nonpoint Pollution

The Nonpoint Pollution Problem

Nonpoint Pollution Control: Characterization and Efficiency

Nonpoint Policy Instruments

Conclusion

See also

Further Reading

Enforcement

Introduction

Fundamental Economics of Environmental Enforcement

Extensions of the Basic Enforcement Model

Enforcing Price-Based Control Policies: Emissions Taxes and Tradable Emissions Permits

Conclusion

See also

Further Reading

Glossary

European Union’s Emissions Trading System

Overview

EU Climate Policy Background

Design of the EU Emissions Trading System

Economic Assessment of the EU Emissions Trading System

Future Developments

Conclusions

See also

Further Reading

Glossary

Green Tax Design in the Real (Second-Best) World

Introduction

Multiple Externality Problems

Restrictions on Tax Coverage

Market Power

Impediments to the Development and Deployment of New Technologies

Preexisting Policies

Conclusion

See also

Further Reading

Glossary

Information Programs

Aims and Scope

An Overview of Information Disclosure Programs

The Potential Advantages of Transparency Policies

Potential Mechanisms

Empirical Evidence: The Effectiveness of Information Programs

Empirical Evidence: The Mechanisms Linking Information and Performance

Discussion

See also

Further Reading

Glossary

Liability Rules and the Environment

Introduction

The Unilateral Accident Regulation Model

Contemporary Topics in Environmental Liability

Conclusion

See also

Further Reading

Glossary

Price Instruments

Introduction

An Economic View of Efficiency

The Role of Prices

Emission Taxes

Other Taxes

Subsidies for Reducing Emissions

Other Subsidy Policies

Who Should Pay for Pollution Control?

Summary

See also

Further Reading

Glossary

Prices versus Quantities

Introduction

Some Basic Notation

Imperfect Information

Hybrid Policies

Further Asymmetries between Price and Quantity Policies

Summary and Conclusions

See also

Further Reading

Glossary

Quantity Instruments

Overview

Emissions, Ambient Concentrations, and Forms of Tradable Credit Systems

Credit Banking and Borrowing: Credit Trading Across Compliance Periods

Stock Pollutants and Tradable Credit

Point, Nonpoint Source Emission and Discharge Credits

Additional Issues

Summary

See also

Further Reading

Glossary

SO2 Program

The Pollutant

Regulatory History

Allowance Trading

Program Design

Program in Effect

Economic Assessment

Environmental Effect

The Clean Air Interstate Rule

The Clean Air Transport Rule

Conclusion

Further Reading

Relevant Websites

Standards

Introduction and Definition

What Standards Are in Use

How Standards Work

Why Standards Are Used

Summary

See also

Further Reading

Glossary

Superfund Program

History of the Legislation

The Superfund Process

Has the Program Worked?

Measuring Benefits Through Property Values

Environmental Equity Concerns

Legal Issues and Costs

See also

Further Reading

Voluntary Approaches to Environmental Protection

Overview

Description of Voluntary Approaches

Motivations for Voluntary Approaches

Effectiveness of Voluntary Approaches

Voluntary Approaches in Developing Countries

Summary

See also

Further Reading

Relevant Websites

Glossary

Political Economy

Contest Models and Environmental Policy

Introduction

Contest Model Basics

Extending the Basic Model

Selected Environmental Applications

Conclusions

See also

Further Reading

Glossary

Democracy, Political Institutions, and Environmental Policy

Introduction

Democracy

Political Institutions

Conclusion

See also

Further Reading

Glossary

Empirical Methods for Political Economy Analyses of Environmental Policy

Introduction

Political Institutions and Environmental Policy

Spatial Interactions and Environmental Policy

Conclusion

See also

Further Reading

Glossary

Environmental Conflict and Natural Resources

Introduction

What Is Conflict Economics?

Property Rights and Conflict

What Makes Natural Resources so Special in Relation to Conflict?

Expropriation and Conflict

Input Access and Conflict

Trade and Resources: A General Equilibrium Model of Conflict

See also

Further Reading

Glossary

Environmental Federalism: Empirics

Introduction

Vertical Federalism

Horizontal Federalism: Environmental Free Riding

Horizontal Federalism: Interjurisdictional Competition

Conclusions and Implications

See also

Further Reading

Glossary

Environmental Justice: The Experience of the United States

Introduction

Hypotheses for Environmental Justice Correlations

From Positive to Normative: Incorporating Environmental Justice Considerations into Policy Making

See also

Further Reading

Glossary

Lobbying, Voting, and Environmental Policy: Theory

Introduction

Special-Interest Groups

Voting and Election

Elections and Lobbying

Concluding Remarks

See also

Further Reading

Glossary

Political Economy and the Interaction Between International Trade and Environmental Policies

Introduction

Formal Framework

Reducing Barriers to International Trade

Other Policy Issues

Conclusion

See also

Further Reading

Glossary

Political Economy of Instrument Choice

Introduction

Why Inefficient Instruments Often Win the day

Taxes and Revenue Recycling Rules

The Political Economy of Tradable Permit Markets

Conclusion

See also

Further Reading

Glossary

Political Economy of International Environmental Agreements

Aims and Scope

Theoretical Model Approaches

International Environmental Cooperation: Findings from Empirical and Experimental Studies

Discussion and Scope for Future Research

See also

Further Reading

Glossary

Public Acceptability of Incentive-Based Mechanisms

Public Acceptability and Political Feasibility

The Determinants of Public Acceptability

Designing Efficient and Acceptable Policies

Summary/Conclusions

See also

Further Reading

Glossary

Strategic Environmental Policy

Introduction

The Third-Market Model

Welfare Consequences of SEP

Variations of the Third-Market Model

Reciprocal Dumping Model

Policy Implications

See also

Further Reading

Glossary

Valuation Tools

Averting Behavior

Introduction

Theoretical Background

Misstatement of Physical and Economic Damages

Empirical Research on Behavioral Responses to Hazards

Valuation of Marginal Changes in Hazards

Valuation of Nonmarginal Changes in Hazards

Conclusions

See also

Further Reading

Benefit Transfer

Introduction

Transfer Methods

Validity and Predictive Accuracy

Commodity Consistency

Market Consistency

Temporal Trends

International Transfers

Study Methodology

Selection Effects

Access to Primary Studies and Data Reporting

Conclusions

See also

Further Reading

Glossary

Contingent Valuation Method

Overview

CVM Survey Design

Advantages of the CVM

Accuracy

Conclusions

See also

Further Reading

Glossary

Hedonics

Introduction

Environmental Valuation with the Hedonic Price Function

Functional Form and Choice of Regressors

Endogenous Regressors

Identification of Preference Parameters Within the Hedonic Framework

Conclusions

See also

Further Reading

Travel Cost Methods

Introduction

Seasonal Demand Models

Site Choice Models

Kuhn–Tucker Models

Issues and Complications

Conclusions

See also

Further Reading

Value of a Statistical Life

Hedonic Equilibrium

The Uses and Misuses of VSLs

Estimating VSLs Using Labor Market Data

VSL Heterogeneity

Policy Implications of VSL Heterogeneity

Estimating VSLs Using Housing or Product Data

Contingent Valuation/Stated Preference Studies

Current EPA Guidelines

Conclusion

See also

Further Reading

Glossary

Index

Author Index

Quotes and reviews

"This exhaustive work is greatly enriched by being part of ScienceDirect…, which offers superb searching/navigation mechanisms for locating some 130 articles by nearly 200 contributors. The content is excellent and wide-ranging…the integration of a major reference work with other sources creates a cohesive context for understanding the complex and vexing economic challenges underpinning environmental issues. Summing Up: Highly recommended."--Choice Reviews Online, April 2014

 
 
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