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Introduction
by Stephen Polasky, Eban S. Goodstein
Economics and the Environment, 8th Edition
Cover
Title Page
Preface
Introduction
CHAPTER 1: Four Economic Questions About Climate Change
1.0 Introduction
1.1 Four Questions
1.2 How Much Pollution Is Too Much?
1.3 Is Government Up to the Job?
1.4 How Can We Do Better?
1.5 Can We Resolve Global Issues?
1.6 Summary
PART I: How Much Pollution Is Too Much?
CHAPTER 2: Ethics and Economics
2.0 Introduction
2.1 Utility and Utilitarianism
2.2 Social Welfare
2.3 Summary
CHAPTER 3: Pollution and Resource Degradation as Externalities
3.0 Introduction
3.1 The Open Access Problem
3.2 The Public Goods Problem
3.3 Is Sustainable Business a Solution?
3.4 Summary
CHAPTER 4: The Efficiency Standard
4.0 Introduction
4.1 Efficiency Defined
4.2 Efficient Pollution Levels
4.3 Marginals and Totals
4.4 The Coase Theorem Introduced
4.5 Air Pollution Control in Baltimore: Calculating the Efficient Standard
4.6 The Ethical Basis of the Efficiency Standard
4.7 Real-World Benefit– Cost Analysis
4.8 Summary
CHAPTER 5: Measuring the Benefits of Environmental Protection
5.0 Introduction
5.1 Use, Option, and Existence Value: Types of Nonmarket Benefits
5.2 Consumer Surplus, WTP, and WTA: Measuring Benefits
5.3 Risk: Assessment and Perception
5.4 Measuring Benefits I: Contingent Valuation
5.5 Measuring Benefits II: Travel Cost
5.6 Measuring Benefits III: Hedonic Regression
5.7 The Value of Human Life
5.8 Summary
APPENDIX 5A: WTA and WTP Redux
5A.1: An Indifference Curve Analysis
5A.2: Prospect Theory or Substitutability?
CHAPTER 6: Measuring the Costs of Environmental Protection
6.0 Introduction
6.1 Engineering Costs
6.2 Productivity Impacts of Regulation
6.3 Employment Impacts of Regulation
6.4 General Equilibrium Effects and the Double Dividend
6.5 A Final Look at Benefit– Cost Analysis
6.6 Summary
CHAPTER 7: The Safety Standard
7.0 Introduction
7.1 Defining the Right to Safety
7.2 The Safety Standard: Inefficient
7.3 The Safety Standard: Not Cost-Effective
7.4 The Safety Standard: Environmental Justice or Regressive Impact?
7.5 Siting Hazardous Waste Facilities: Safety versus Efficiency
7.6 Summary
CHAPTER 8: The Sustainability Standard
8.0 Introduction
8.1 Sustainability: Neoclassical and Ecological Approaches
8.2 Future Benefits, Costs, and Discounting
8.3 An Example of Discounting: Light Bulbs
8.4 Savings, Investment, and Market Interest Rates
8.5 The Social Discount Rate and Dynamic Efficiency
8.6 Discounting Climate Change
8.7 Ecological Economics, Strong Sustainability, and the Precautionary Principle
8.8 Strong Sustainability in Practice: Endangered Species, EIS, and Reach
8.9 Summary
CHAPTER 9: Measuring Sustainability
9.0 Introduction
9.1 Malthus and Ecological Economics
9.2 Modern Debates: Limits to Growth and Planetary Boundaries
9.3 Measuring Strong Sustainability: Impacts and Footprints
9.4 Measuring Weak Sustainability: Net National Welfare and Inclusive Wealth
9.5 Natural Capital Depreciation
9.6 Are We Achieving Sustainability?
9.7 Discounting, Sustainability, and Investing for the Future
9.8 The Ecological–Neoclassical Debate in Context
9.9 Summary
CHAPTER 10: Natural Resources and Ecosystem Services
10.0 Introduction
10.1 Nonrenewable Resources and the Hotelling Model
10.2 Testing the Nonrenewable Resource Model
10.3 The Roller Coaster Ride of Oil Prices
10.4 Peak Oil?
10.5 Renewable Resources
10.6 Renewable Resource Policy: Fisheries and Endangered Species
10.7 Ecosystem Services and Natural Capital
10.8 Summary
CHAPTER 11: Is More Really Better? Consumption, Welfare, and Behavior
11.0 Introduction
11.1 Money and Happiness
11.2 Social Norms and the Rat Race
11.3 Positional Goods and Consumption Externalities
11.4 Welfare with Social Consumption
11.5 Overconsumption Policy Solutions
11.6 Behavioral Economics and Behavior Change
11.7 Summary
PART II: Is Government Up to the Job?
CHAPTER 12: The Political Economy of Environmental Regulation
12.0 Introduction
12.1 The Process of Environmental Regulation
12.2 Regulation under Imperfect Information
12.3 Bureaucratic Discretion and Political Influence
12.4 Who Wins the Influence Game?
12.5 Political Reform of Regulation
12.6 Better Information, More Democracy
12.7 Summary
CHAPTER 13: An Overview of Environmental Legislation
13.0 Introduction
13.1 Cleaning the Air
13.2 The Clean Air Act and Climate Change
13.3 Fishable and Swimmable Waters
13.4 Hazardous Waste Disposal on Land
13.5 Chemicals and Pesticides
13.6 Endangered Species Protection
13.7 Summary
CHAPTER 14: The Regulatory Record: Achievements and Obstacles
14.0 Introduction
14.1 Accomplishments of Environmental Regulation
14.2 Monitoring and Enforcement: Political Constraints
14.3 The Appeal of Incentive-Based Regulation
14.4 Beyond Regulation? Promoting Clean Technology
14.5 Summary
PART III: How Can We Do Better?
CHAPTER 15: Incentive-Based Regulation: Theory
15.0 Introduction
15.1 The Cost-Effectiveness Rule
15.2 IB Regulation and Cost-Effectiveness
15.3 IB Regulation and Technological Progress
15.4 Potential Problems with IB Regulation
15.5 Summary
APPENDIX 15A: Imperfect Regulation in an Uncertain World
15A.0: Minimizing the Costs of Being Wrong
15A.1 An Application to Greenhouse Gas Emissions
15A.2 Summary
APPENDIX 15B: Incentive-Compatible Regulation
15B.0 Incentives to Lie
15B.1 Incentives to Tell the Truth
15B.2 Summary
CHAPTER 16: Incentive-Based Regulation: Practice
16.0 Introduction
16.1 Lead and Chlorofluorocarbons
16.2 Trading Urban Air Pollutants
16.3 Marketable Permits and Acid Rain
16.4 Carbon Trading in the Northeast and California
16.5 Two Failed U.S. Efforts: Mercury and Carbon
16.6 The European Emissions Trading System
16.7 Pollution Taxes and Their Relatives
16.8 Summary
CHAPTER 17: Promoting Clean Technology: Theory
17.0 Introduction
17.1 Path Dependence and Clean Technology
17.2 Clean Technology Defined
17.3 If You’re So Smart, Why Aren’t You Rich?
17.4 Picking the Winning Path
17.5 Promoting Early-Stage Clean Technologies
17.6 Promoting Late-Stage Clean Technologies
17.7 Clean Technology: Two Case Studies
17.8 Summary
CHAPTER 18: Energy Policy and the Future
18.0 Introduction
18.1 Technology Options: Electricity and Heat
18.2 Policy Options: Electricity and Heat
18.3 Technology Options: Transport
18.4 Policy Options: Transport
18.5 Summary
PART IV: How Can We Solve Global Challenges?
CHAPTER 19: Poverty, Population, and the Environment
19.0 Introduction
19.1 Poverty and the Environment
19.2 The Population Picture in Perspective
19.3 An Economic Approach to Family Size
19.4 Controlling Population Growth
19.5 Consumption and the Global Environment
19.6 Envisioning a Sustainable Future
19.7 Summary
CHAPTER 20: Environmental Policy in Low-Income Countries
20.0 Introduction
20.1 The Political Economy of Sustainable Development
20.2 Ending Environmentally Damaging Subsidies
20.3 Establishing and Enforcing Property Rights
20.4 Regulatory Approaches
20.5 Sustainable Technology: Development and Transfer
20.6 Resource Conservation and Debt Relief
20.7 Trade and the Environment
20.8 Summary
CHAPTER 21: The Economics of Global Agreements
21.0 Introduction
21.1 Agreements as Public Goods
21.2 Monitoring and Enforcement
21.3 The Ozone Layer and Biodiversity
21.4 Stopping Global Warming: Theory
21.5 Stopping Global Warming: Reality
21.6 Summary
Selected Web Sites for Environmental and Natural Resource Economists
Author Index
Subject Index
End User License Agreement
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