The Theory of Environmental Policy

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Cambridge University Press, Feb 26, 1988 - Business & Economics - 299 pages
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In this book, Professors Baumol and Oates provide a rigorous and comprehensive analysis of the economic theory of environmental policy. They present a formal, theoretical treatment of those factors infuencing the quality of life. By covering both the theory of externalities and its application to environmental policy, the authors have retained the basic structure and organization of the first edition, which has become a standard reference in the field. In this edition, however, they have updated their analysis to incorporate recent research in enviromental economics.
 

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Contents

Introduction economics and environmental policy
1
On the theory of externalities
5
Relevance and the theory of externalities
7
Externalities definition significant types and optimalpricing conditions
14
Externalities formal analysis
36
Uncertainty and the choice of policy instruments price or quantity controls?
57
Market imperfections and the number of participants
79
Are competitive outputs with detrimental externalities necessarily excessive?
91
Introduction to Part II
155
Efficiency without optimality the charges and standards approach
159
Marketable emission permits for protection of the environment
177
Stochastic influences direct controls and taxes
190
Taxes versus subsidies a partial analysis
211
Environmental protection and the distribution of income
235
International environmental issues
257
National or local standards for environmental quality?
284

Detrimental externalities and nonconvexities in the production set
110
On optimal pricing of exhaustible resources
138
On the design of environmental policy
153

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