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El. knyga: Handbook of Environmental Economics

Volume editor (Department of Economics, W. P. Carey School of Business, Tempe, AZ, USA), Volume editor (Sanford School of Public Policy, Duke University, Durham, NC, USA), Volume editor (Faculty of Economics, Cambridge University, UK)
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Handbook in Economics, Fourth Edition, the latest in this ongoing series, highlights new advances in the field, with this new volume presenting timely chapters on Modeling Ecosystems and Economic Systems, Framing Sustainability Policy Questions: Who Leads – Ecology or Economics , Valuing Natural Capital Within an Integrated Economic Ecological, Developing Economies, Urbanization, Climate Change and Health, Viewing Environmental Policy Instruments for Domestic and International Perspective, Quasi experimental Estimation of Environmental Policies, Environment Macro, The Rules for Formal and Informal Institutions in Managing Environmental Resources, and How Should Uncertainty Be Integrated into the Methods for Policy Evaluation?

  • Answers key policy questions facing environmental agencies in developed and developing economies
  • Integrates insights from economics and ecology as part of several key chapters
  • Presents the latest on efforts to review and evaluate the new literatures on field and quasi experiments in environmental economics
  • Provides the first substantive review of environmental macro economics

Recenzijos

"Ten papers explore the impacts of climate change, focusing on the scale of these impacts, their associated policies, and peoples responses to them." --Journal of Economic Literature

Contributors xi
Introduction to the Series xiii
Preface xv
Chapter 1 Modeling Coupled Climate, Ecosystems, and Economic Systems
1(60)
William A. Brock
Anastasios Xepapadeas
1 Introduction
2(2)
2 Coupled Ecological/Economic Modeling for Robustness
4(7)
2.1 Robust Control Methods in Coupled Ecological/Economic Systems
7(4)
3 Climate Economics with Emphasis on New Modeling: Carbon Budgeting and Robustness
11(10)
3.1 Cumulative Carbon Budgeting to Implement Temperature Limits
12(9)
3.2 Climate Change Policy with Multiple Lifetime for Greenhouse Gases
21(1)
4 Implementation
21(2)
5 Energy Balance Climate Models and Spatial Transport Phenomena
23(9)
5.1 Spatial Pattern Scaling
27(2)
5.2 Discounting for Climate Change
29(3)
6 Spatial Aspects in Economic/Ecological Modeling
32(1)
7 Future Directions
33(3)
7.1 Bottom Up Implementation Rather than Top Down Implementation
33(1)
7.2 Stochastic Modeling and Computational Approaches
34(1)
7.3 Bifurcations and Tipping Points
35(1)
Appendix A
36(12)
A.1 Robust Control Methods
36(2)
A.2 The Case of Additive Uncertainty
38(5)
A.3 Time Consistency Issues of Solutions to Zero Sum Robust Control Games
43(2)
A.4 Climate Change Policy with Multiple Lifetime for Greenhouse Gases
45(3)
Appendix B Spatially Extended Deterministic Robust Control Problems
48(13)
B.1 An Example
51(3)
References
54(7)
Chapter 2 Ecology and Economics in the Science of Anthropogenic Biosphere Change
61(24)
Charles Perrings
Ann Kinzig
1 Introduction
61(2)
2 The Dynamics of Coupled Hierarchical Systems
63(2)
3 Carrying Capacity and Assimilative Capacity
65(2)
4 Resilience and Stability
67(3)
5 Biodiversity and the Portfolio of Natural Assets
70(3)
6 The Value of Ecosystem Functions
73(3)
7 Concluding Remarks
76(9)
References
77(8)
Chapter 3 The Nature of Natural Capital and Ecosystem Income
85(58)
Eli P. Fenichel
Joshua K. Abbott
Seong Do Yun
1 Introduction
86(2)
2 Theory of Measuring Natural Capital Shadow Prices in Real Ecological-Economic Systems
88(19)
2.1 Conceptualizing Natural Capital
88(3)
2.2 Derivation of Natural Capital Pricing Equations
91(7)
2.3 Intuition About Natural Capital Prices and the Importance of Multiple Stocks and Adjustment Costs
98(2)
2.4 Non-convexity and Non-differentiability
100(2)
2.5 Non-autonomous and Stochastic Dynamics
102(2)
2.6 Using Shadow Prices to Assess Sustainable Investment/Consumption
104(3)
3 Approximators to Measure Natural Capital Shadow Prices
107(8)
3.1 Three Ways to Approximate Shadow Prices
109(2)
3.2 Tradeoffs Among Approximation Approaches
111(1)
3.3 The Approximation Domain
112(2)
3.4 Additional Numerical Considerations
114(1)
4 The Measurement of the Economic Program and Ecosystem Income and Its Connection to Natural Capital Asset Prices
115(13)
4.1 The Economic Program -- x(s)
116(3)
4.2 Dividends from Natural Capital -- W
119(1)
4.3 Ecosystem Income from Market Production
120(2)
4.4 Ecosystem Income from Household Production
122(3)
4.5 Direct Ecosystem Income
125(2)
4.6 Accounting for Ecosystem Income
127(1)
5 Examples and Applications to Date
128(3)
6 Discussion and Future Challenges
131(12)
References
134(9)
Chapter 4 Through the Looking Glass: Environmental Health Economics in Low and Middle Income Countries
143(50)
Subhrendu K. Pattanayak
Emily L. Pakhtigian
Erin L. Litzow
1 The Economics of Environmental Health
144(7)
1.1 Environmental Health in LMICs
145(3)
1.2 Economics and Environmental Health
148(3)
2 Choice and Behavior
151(10)
2.1 Simple Analytics
153(2)
2.2 Measuring Demand: Valuation (Willingness to Pay)
155(3)
2.3 Shifting Demand: Adoption
158(2)
2.4 Predicting Impact: Evaluation
160(1)
3 What We Know About Environmental Health in LMICs
161(14)
3.1 Valuing Environmental Risk Reductions
163(4)
3.2 Adopting Environmental Risk Reducing Technologies
167(4)
3.3 Evaluating Environmental Health Impacts
171(4)
4 Path Forward
175(18)
4.1 Multiple Risks
175(2)
4.2 Supply and Political Economy
177(3)
4.3 Environmental Hazards and Climate Change
180(1)
4.4 Beyond Experiments and Average Treatment Effects
181(2)
4.5 Closing Thoughts
183(1)
References
184(9)
Chapter 5 The Farmer's Climate Change Adaptation Challenge in Least Developed Countries
193(38)
Maximilian Auffhammer
Matthew E. Kahn
1 Introduction
194(1)
2 Historical and Anticipated Climate Change
195(5)
3 Estimating the impacts of Climate Change on LDC Agriculture
200(10)
3.1 The Impact of Climate Change on a Farmer's Investment Decisions
203(6)
3.2 Aggregation and General Equilibrium Effects
209(1)
4 The Farmer Climate Adaptation Challenge
210(6)
4.1 Income Inequality and Climate Change
211(1)
4.2 LDC Farmer Climate Change Adaptation Opportunities
212(1)
4.3 Rural Data Collection Needs to Accelerate Adaptation Research Progress
213(1)
4.4 Rural to Urban Migration as an Adaptation Strategy
214(1)
4.5 The Dimensionality of the LDC Migrant's Urban Choice Set
215(1)
5 General Equilibrium Effects Induced by Rapid Urbanization
216(7)
5.1 Urban Political Economy Issues Related to Climate Change Adaptation
218(1)
5.2 The Adaptation Benefits of LDC Urbanization
219(1)
5.3 The Productivity of LDC Urban Firms in a Hotter World
220(1)
5.4 Will LDC Urban Growth Significantly Exacerbate the Global GHG Externality Challenge?
221(1)
5.5 Research Needs
222(1)
6 Conclusion
223(8)
References
223(8)
Chapter 6 Selection and Design of Environmental Policy Instruments
231(54)
Thomas Sterner
Elizabeth J.Z. Robinson
1 The Need for Policy
232(2)
2 Policy Failures
234(2)
3 The Menu of Instruments
236(7)
3.1 Price-Type Instruments
237(2)
3.2 Rights-Based Policies
239(1)
3.3 Regulation
240(1)
3.4 Information or Legal-Based Policies
241(1)
3.5 The Process of Policy Making at National or Other Levels
242(1)
4 The Selection of Instruments
243(10)
4.1 Efficiency
244(1)
4.2 Information Asymmetries and Uncertainty
245(2)
4.3 Intertemporal Efficiency
247(1)
4.4 Spatial Efficiency
248(1)
4.5 Practical and Political Aspects
249(2)
4.6 Normative Principles, Distributional Aspects, and Environmental Justice
251(2)
5 Selected Examples
253(16)
5.1 Taxing Carbon
254(4)
5.2 Taxing (and Subsidizing) Transport Fuel
258(2)
5.3 Cap and Trade Schemes
260(2)
5.4 Refunding Emission Payments
262(2)
5.5 Regulation Versus Taxation: The Example of a Hazardous Chemical
264(3)
5.6 Policies to Modify Behavioral Norms
267(2)
6 Designing Policies for the Anthropocene
269(16)
6.1 An Expansion of Geographic and Political Scope
270(3)
6.2 Significant Extension in Time-Scale
273(1)
6.3 Significant Extension of the Number of Pollutants and Scientific Complexity
274(1)
6.4 Equity, Ethics, Risk, Uncertainty, and Governance
274(2)
References
276(9)
Chapter 7 Quasi-experimental Methods in Environmental Economics: Opportunities and Challenges
285(48)
Olivier Deschenes
Kyle C. Meng
1 Introduction
286(3)
2 The Lindahl-Samuelson Condition
289(4)
2.1 A Model of Optimal Public Good Provision
289(2)
2.2 Estimating the Lindahl-Samuelson Condition: Measurement Challenges
291(1)
2.3 Estimating the Lindahl--Samuelson Condition: Identification Challenges
292(1)
3 The Standard Quasi-Experimental Approach
293(4)
3.1 Background
293(1)
3.2 Potential Outcomes Framework
294(2)
3.3 Three Quasi-Experimental Methods
296(1)
4 The Quasi-Experimental Approach for Public Goods
297(9)
4.1 Distinguishing Public Good Source and Exposure
298(1)
4.2 A Potential Outcomes Framework for Public Goods
299(1)
4.3 Two Quasi-Experimental Estimators in the Literature
300(4)
4.4 An Unbiased Estimator for Local Public Goods
304(1)
4.5 Illustrative Simulations
305(1)
5 Literature Review
306(17)
5.1 Publication Trends
306(5)
5.2 A Selected Review of Average Source Effect Estimates
311(4)
5.3 A Selected Review of Average Exposure Effect Estimates
315(5)
5.4 A Selected Review of Marginal Cost Estimates
320(3)
6 Moving Forward
323(4)
6.1 What To Do with Local Public Goods
324(1)
6.2 What To Do with Global Public Goods
325(2)
7 Conclusion
327(6)
References
328(5)
Chapter 8 Environmental Macroeconomics: The Case of Climate Change
333(62)
John Hassler
Per Krusell
1 Introduction
334(5)
2 The Neoclassical Growth Model: Why and How?
339(26)
2.1 Empirical Underpinnings: Long-Run Facts
339(12)
2.2 Quantitative Theory
351(9)
2.3 Energy Resources
360(5)
3 The Natural-Science Add-Ons
365(4)
3.1 The Carbon-Cycle Module
365(1)
3.2 The Climate Module
366(2)
3.3 Constant Carbon--Climate Response
368(1)
4 Damages
369(2)
5 A Complete, Quantitative IAM
371(13)
5.1 The Planning Problem
371(1)
5.2 Market Equilibrium
372(1)
5.3 Model Solution
373(4)
5.4 The Social Cost of Carbon
377(1)
5.5 A Mickey-Mouse Model? Quantitative Analytical IAMs
378(6)
6 Extensions
384(6)
6.1 Endogenous Technical Change
384(3)
6.2 Multi-Region Modeling
387(3)
7 Concluding Remarks
390(5)
References
392(3)
Chapter 9 Causal Inference in Environmental Conservation: The Role of Institutions
395(44)
Erin O. Sills
Kelly Jones
1 Introduction
395(4)
2 Average Treatment Effects of Institutions
399(7)
2.1 Instruments
399(1)
2.2 Methods
400(3)
2.3 Findings
403(3)
3 Institutional Insights for Causal Models
406(20)
3.1 Causal Diagrams
406(4)
3.2 Institutions as Determinants of Assignment
410(2)
3.3 Heterogeneous Institutional Treatments
412(4)
3.4 Institutions as Moderators
416(6)
3.5 Institutions as Mechanisms
422(4)
4 Summary and Future Directions
426(13)
References
427(12)
Chapter 10 Uncertainty and Ambiguity in Environmental Economics: Conceptual Issues
439(30)
Geoffrey Heal
Antony Millner
1 Introduction
439(9)
1.1 Uncertainty and Climate Policy
441(5)
1.2 Uncertainty and Biodiversity
446(2)
2 Alternatives to Expected Utility
448(13)
2.1 Probabilities and Confidence
448(2)
2.2 Formal Development
450(7)
2.3 Is Ambiguity Aversion Rational?
457(4)
3 Application to Environmental Policy Choices
461(4)
3.1 A Simple Analytical Model
461(2)
3.2 Applications in the Literature
463(2)
4 Conclusions
465(4)
References
465(4)
Index 469
Sir Partha Dasgupta is the Frank Ramsey Emeritus Professor of Economics, Chair of the Centre for the Study of Existential Risk, and a Fellow of St John's College, all at the University of Cambridge. He was knighted in 2002 for his services to economics, and is a Fellow of the Royal Society, Foreign Associate of the National Academy of Sciences, and Member of the Pontifical Academy of Social Sciences. He won the Volvo Environment Prize in 2002, the Blue Planet Prize in 2015 and the Tyler Prize in 2016. The UN Environment Programme named Professor Dasgupta as one of four 2022 Champions of the Earth, the first economist to have been awarded this honour. His research interests are broadly in the Economics of Poverty and Nutrition, and in Environmental Economics. He has authored and edited many books, including Time and the Generations: Population Ethics for a Diminishing Planet, (New York, Columbia University Press, 2019), and The Economics of Biodiversity: The Dasgupta Review, (Cambridge, Cambridge University Press, 2024). Dr. Subhrendu Pattanayak teaches at the Sanford School of Public Policy, Duke University, Durham, USA Dr. V. Kerry Smith teaches at the Department of Economics from the W.P. Carey School of Business, Arizona State University, Tempe, USA