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This major reference book comprises specially commissioned surveys in environmental and resource economics written by an international team of experts. Authoritative yet accessible, each entry provides a state-of-the-art summary of key areas that will be invaluable to researchers, practitioners and advanced students.
This book describes the environmental problems associated with agriculture, particularly the use of pesticides and chemical fertilizers and the disposal of animal waste. These have become major policy issues in many countries, with the main polluting effect being on water quality. As with other types of pollution, significant reductions in agriculture's contribution to water pollution requires the application of either enforceable regulatory approaches or changes in the economic environment, so that farmers adopt environmentally-friendly production practices. Providing a review and guide to the policy options and their economic administrative and political merits, the reader can develop an understanding of these options and their merits in the emerging policy context. The principal focus is on the developed world, particularly North America and Europe. The book is aimed at advanced students, researchers and professionals in agricultural economics and policy, and environmental and pollution sciences.
'Until not much more than 20 years ago, economists frequently lamented the fact that they were limited in their empirical analyses to statistical assessments of market behavior, because controlled economic experiments were (thought to be) infeasible, unethical, or both. Much has changed in the intervening years! In this new volume, John List, Michael Price, and their co-authors provide a diverse set of applications of experimental approaches to the environmental economics realm. This is among the most promising of new areas of research in the economics of the environment, and this book provides a superb point of entry for experts and novices alike.' – Robert Stavins, Harvard University, US Laboratory and field experiments have grown significantly in prominence over the past decade. The experimental method provides randomization in key variables therefore permitting a deeper understanding of important economic phenomena. This path-breaking volume provides a valuable collection of experimental work within the area of environmental and resource economics and showcases how laboratory and field experiments can be used for both positive and normative purposes. The Handbook provides a timely reminder to social scientists, policymakers, international bodies, and practitioners that appropriate decision-making relies on immediate and sharp feedback, both of which are key features of proper experimentation. This book includes a collection of research that makes use of the experimental method to explore key issues within environmental and resource economics that will prove invaluable for both students and academics working in these areas.
In April 1992 the Foundation Eni Enrico Mattei organized a workshop on the regulation of nonpoint source pollution. This volume inc1udes the proceedings of that meeting, as well as additional original contributions, in an attempt to provide an overview of recent theoretical developments in the field. Research on the causes, consequences, and control of nonpoint source pol lution has been carried out over the last two decades. Interest in this subject has grown as a result of the increasing recognition of the insufficiency of traditional pollution control policies focused on the large scale, confined, and general ly predictable pollutant discharges. In fact, many contemporary problems are caused by the combined activities of small polluters, along with natural pro cesses, intermittent and unpredictable events, and often involve pollutants with complex environmental outcomes. Despite the progress made in understanding the nature and size of pollution from diffuse sources, the issue of regulation is still far from being system at ically and adequately addressed. This policy vacuum is partly attributable to the difficulty of adapting the traditional point source regulatory tool kit to the specific features of nonpoint source problems. Such features inc1ude the tech nical difficulty of identifying sources and measuring individual emissions, their variability over time and space, the role played by natural processes in detennin ing pollutant discharges at source and their ultimate impacts on the receiving environmental media.
Risk models are models of uncertainty, engineered for some purposes. They are “educated guesses and hypotheses” assessed and valued in terms of well-defined future states and their consequences. They are engineered to predict, to manage countable and accountable futures and to provide a frame of reference within which we may believe that “uncertainty is tamed”. Quantitative-statistical tools are used to reconcile our information, experience and other knowledge with hypotheses that both serve as the foundation of risk models and also value and price risk. Risk models are therefore common to most professions, each with its own methods and techniques based on their needs, experience and a wisdom accrued over long periods of time. This book provides a broad and interdisciplinary foundation to engineering risks and to their financial valuation and pricing. Risk models applied in industry and business, heath care, safety, the environment and regulation are used to highlight their variety while financial valuation techniques are used to assess their financial consequences. This book is technically accessible to all readers and students with a basic background in probability and statistics (with 3 chapters devoted to introduce their elements). Principles of risk measurement, valuation and financial pricing as well as the economics of uncertainty are outlined in 5 chapters with numerous examples and applications. New results, extending classical models such as the CCAPM are presented providing insights to assess the risks and their price in an interconnected, dependent and strategic economic environment. In an environment departing from the fundamental assumptions we make regarding financial markets, the book provides a strategic/game-like approach to assess the risk and the opportunities that such an environment implies. To control these risks, a strategic-control approach is developed that recognizes that many risks resulting by “what we do” as well as “what others do”. In particular we address the strategic and statistical control of compliance in large financial institutions confronted increasingly with a complex and far more extensive regulation.
Advanced Principles in Environmental Policy clearly and systematically presents current developments in the economic theory of environmental policy. A key feature is the systematic exposition of the use of mathematical tools in environmental economics. Professor Xepapadeas builds on and extends the basic theoretical framework of environmental policy and pays special attention to the inter-relationships between environmental economics and other branches of economics. He considers dynamic investment theory, industrial organization, international economics and relaxes standard assumptions underlying his basic model. A key feature of this book is a systematic exposition of the use of mathematical tools in environmental economics. Important practical research topics in the theory of environmental policy are presented, including: emission taxes nonpoint source pollution transboundary pollution the link between international trade and environmental policy international environmental cooperation. Advanced Principles in Environmental Policy will provide stimulus for further research in the theory of environmental policy. It will prove essential reading for advanced undergraduate and graduate students in environmental economics as well as for professionals, researchers and policymakers seeking to understand the fundamentals of environmental policy.
We analyze the role of National Treatment in the regulation of environmental product standards for an open economy. A social planner uses product standards to control emissions from the consumption of a traded good. We show that whether National Treatment of standards interferes with welfare-maximizing policy depends on the instruments available to the policy maker (consumption or emissions tax) and differences in the cost of complying with the standard. We also highlight the asymmetric incidence of the domestic and import product standard when taxes are suboptimal. This asymmetric incidence can also cause welfare-maximizing policy to violate National Treatment.