Environmental Economics

Environmental Economics In Theory and. Practice Second edition Nick Hanley University of Stirling Jason F. Shogren University of Wyoming and Ben White University of Western Australia , .. ,, .. a,: .. : .. ' macmillan .Contents List of tables ix List of figures x List of boxes xiii Introduction and acknowledgements xv 1 Economy-environment interactions . 1 2 The Economics of sustainable development 14 3 Market failure 42 4 Incentive design 82 5 Pollution taxes and tradable emission permits: Theory into practice 131 6 Transboundary pollution and global public goods 174 7 Nonrenewable resources: Market structure and policy 214 8 Nonrenewable resources: Scarcity, costs and externalities 243 9 Renewable natural resources: The fishery 266 10 Forestry Economics 303 11 Theory and methods for Environmental valuation 322 vii viii C ntents 12 Risk and the environment 13 Trade and the environment Author index 5ubject index 368 421 449 454 \ \ Market failure Introduction A market is an exchange institution that serves society by organizing economic activity.

each other and agree to an allocation of resources that is Pareto efficient, regardless of the party to whom unilateral property rights to the nonmarket asset are initially assigned. As long as these property rights can be freely exchanged, the only role for government intervention ts to assign and enforce the property rights.

Loading..

Tags:

  Economic, Allocation, Efficient, Asset, Environmental, Environmental economics

Information