Markets And the Environment
by Keohane, Nathaniel O.; Olmstead, Sheila M.Edition: 2nd
Format: Hardcover
Pub. Date: 2007-06-26
Publisher(s): Island Pr
Other versions by this Author
List Price: $40.00
Rent Textbook
Select for Price
New Textbook
We're Sorry
Sold Out
Used Textbook
We're Sorry
Sold Out
eTextbook
We're Sorry
Not Available
How Marketplace Works:
- This item is offered by an independent seller and not shipped from our warehouse
- Item details like edition and cover design may differ from our description; see seller's comments before ordering.
- Sellers much confirm and ship within two business days; otherwise, the order will be cancelled and refunded.
- Marketplace purchases cannot be returned to eCampus.com. Contact the seller directly for inquiries; if no response within two days, contact customer service.
- Additional shipping costs apply to Marketplace purchases. Review shipping costs at checkout.
Summary
Markets and the Environment is an accessible yet comprehensive introduction to environmental economics. It examines the benefits and costs of environmental protection, markets and market failures, and natural resources as capital assets. With clear explanations of fundamental concepts, it offers students a broad understanding of a wide range of environmental issues and policy approaches. Book jacket.
Author Biography
Nathaniel Keohane is assistant professor of economics at the Yale School of Management.
Sheila M. Olmstead is assistant professor of environmental economics at the Yale School of Forestry and Environmental Studies.
Table of Contents
| Preface | p. ix |
| Introduction | p. 1 |
| Economics and the Environment | p. 1 |
| Global Climate Change | p. 2 |
| Organization and Content of This Book | p. 6 |
| What We Hope Readers Will Take Away from This Book | p. 9 |
| Economic Efficiency and Environmental Protection | p. 11 |
| Economic Efficiency | p. 12 |
| Efficiency and Environmental Policy | p. 19 |
| Equating Benefits and Costs on the Margin | p. 21 |
| Dynamic Efficiency and Environmental Policy | p. 27 |
| Conclusion | p. 30 |
| The Benefits and Costs of Environmental Protection | p. 31 |
| Measuring Costs | p. 31 |
| Evaluating Benefits | p. 33 |
| Benefit-Cost Analysis | p. 43 |
| Conclusion | p. 52 |
| The Efficiency of Markets | p. 54 |
| Competitive Market Equilibrium | p. 55 |
| The Efficiency of Competitive Markets | p. 59 |
| Conclusion | p. 63 |
| Market Failures in the Environmental Realm | p. 65 |
| Externalities | p. 66 |
| Public Goods | p. 70 |
| The Tragedy of the Commons | p. 76 |
| Conclusion | p. 81 |
| Managing Stocks: Natural Resources as Capital Assets | p. 84 |
| Economic Scarcity | p. 85 |
| Efficient Extraction in Two Periods | p. 87 |
| A Closer Look at the Efficient Extraction Path | p. 90 |
| The Critical Role of Property Rights | p. 94 |
| Conclusion | p. 97 |
| Stocks that Grow: The Economics of Renewable Resource Management | p. 98 |
| Economics of Forest Resources | p. 98 |
| Fisheries | p. 111 |
| Conclusion | p. 121 |
| Appendix | p. 122 |
| Principles of Market-Based Environmental Policy | p. 125 |
| The Coase Theorem | p. 126 |
| The Array of Policy Instruments | p. 129 |
| How Market-Based Policies Can Overcome Market Failure | p. 133 |
| Is It Preferable to Set Prices or Quantities? | p. 143 |
| Conclusion | p. 151 |
| The Case for Market-Based Instruments in the Real World | p. 153 |
| Reducing Costs | p. 154 |
| Promoting Technological Change | p. 164 |
| Market-Based Instruments for Managing Natural Resources | p. 168 |
| Other Considerations | p. 173 |
| Conclusion | p. 180 |
| Market-Based Instruments in Practice | p. 182 |
| The U.S. Sulfur Dioxide Market | p. 183 |
| Individual Tradable Quotas for Fishing in New Zealand | p. 190 |
| Municipal Water Pricing | p. 195 |
| Water Quality Trading | p. 198 |
| Waste Management: "Pay As You Throw" | p. 199 |
| Habitat and Land Management | p. 201 |
| Conclusion | p. 205 |
| Sustainability and Economic Growth | p. 207 |
| Limits to Growth? | p. 208 |
| Sustainability, in Economic Terms | p. 214 |
| Keeping Track: Green Accounting | p. 221 |
| Are Economic Growth and Sustainability Compatible? | p. 227 |
| Conclusions | p. 227 |
| Conclusion | p. 230 |
| What Does Economics Imply for Environmental Policy? | p. 230 |
| The Roles of Firms, Consumers, and Governments | p. 231 |
| Some Final Thoughts | p. 232 |
| Discussion Questions | p. 235 |
| References | p. 243 |
| Further Reading | p. 259 |
| Index | p. 267 |
| Table of Contents provided by Ingram. All Rights Reserved. |
An electronic version of this book is available through VitalSource.
This book is viewable on PC, Mac, iPhone, iPad, iPod Touch, and most smartphones.
By purchasing, you will be able to view this book online, as well as download it, for the chosen number of days.
Digital License
You are licensing a digital product for a set duration. Durations are set forth in the product description, with "Lifetime" typically meaning five (5) years of online access and permanent download to a supported device. All licenses are non-transferable.
More details can be found here.
A downloadable version of this book is available through the eCampus Reader or compatible Adobe readers.
Applications are available on iOS, Android, PC, Mac, and Windows Mobile platforms.
Please view the compatibility matrix prior to purchase.