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Environmental economics : theory and policy in equilibrium / Hans Wiesmeth ; with contributions by Judith Marquardt.

By: Contributor(s): Material type: TextTextSeries: Springer texts in business and economicsPublisher: Berlin : Springer, [2012]Copyright date: ©2012Description: xix, 307 pages : illustrations ; 24 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 3642245137
  • 9783642245138
Subject(s): DDC classification:
  • 333.72 23
LOC classification:
  • HC79.E5 W523 2012
Contents:
1. Introduction -- Part I. The Environmental Movement : -- 2. Differing Views on the Environment -- 3. The International Dimension of the Environment -- Part II. Theoretical Environmental Economics : -- 4. Basics of Environmental Economics -- 5. Allocation Problems in a Market Economy -- 6. The Internalization of External Effects -- 7. Public Goods in Environmental Economics -- Part III. Environmental Policy : -- 8. From Theory to Policy: Information Deficits -- 9. Command-and-Control Policy -- 10. Integrated Approaches to Environmental Policy -- 11. The Price-Standard Approach to Environmental Policy -- 12. The Allocation of International Environmental Commodities -- Part IV. The Environment in the Globalized World : -- 13. Trade and the Environment: The Legal Context -- 14. Overfishing -- 15. Integration of Trade and the Environment -- --
1. Introduction -- 1.1. Ecology and Economy: Unequal Partners? -- 1.1.1. Environmental Economics -- 1.1.2. Why is Theory Needed for Environmental Policy? -- 1.2. Survey of the Book -- Part I. The Environmental Movement : -- 2. Differing Views on the Environment -- 2.1. The Europeans and the Environment -- 2.1.1. Environmental Awareness in Europe -- 2.1.2. Conclusions for Environmental Economics -- 2.2. The Environmental Movement in the US -- 2.3. The Developing World and the Environment -- 2.3.1. China and the Environment -- 2.3.2. India and the Environment -- 2.4. Attitudes Towards the Environment: A Summary -- 3. The International Dimension of the Environment -- 3.1. International Environmental Issues -- 3.1.1. Global Environmental Commodities -- 3.1.2. Consequences of Globalization -- 3.1.3. The Environment and International Trade -- 3.2. International Conferences and Environmental Agreements -- 3.2.1. The United Nations Conference on Environment and Development (UNCED) -- 3.2.2. The United Nations Framework Convention on Climate Change (UNFCCC) -- 3.2.3. The Kyoto Protocol -- 3.2.4. Copenhagen, Cancun, Durban and Rio? -- Part II. Theoretical Environmental Economics : -- 4. Basics of Environmental Economics -- 4.1. Fundamental Concepts -- 4.1.1. Environmental Awareness and Perceived Scarcity -- 4.1.2. Environmental Commodities and Allocation Problems -- 4.2. Efficiency as a Normative Criterion for Environmental Economics -- 4.2.1. Economic Efficiency and the Environment: Theory -- 4.2.2. Economic Efficiency and the Environment: Applications -- 5. Allocation Problems in a Market Economy -- 5.1. Efficient Equilibrium Allocations -- 5.1.1. The Model Economy -- 5.1.2. Market Equilibrium -- 5.2. Environmental Effects in a Market Economy -- 5.2.1. The Concept of an External Effect -- 5.2.2. Analysis of an Externality -- 5.2.3. Market Equilibrium with External Effects -- 5.3. Public Commodities in Environmental Economics -- 5.3.1. The Prisoners' Dilemma in an Environmental Context -- 5.3.2. The Prisoners' Dilemma and the Kyoto Protocol -- 5.3.3. The Tragedy of the Commons -- 6. The Internalization of External Effects -- 6.1. External Effects and Missing Markets -- 6.1.1. Supplementing the Market System -- 6.2. The Pigou Tax -- 6.3. Firm-Specific Prices for an Environmental Commodity -- 6.4. Tradeable Emission Certificates -- 6.5. Pollution Rights -- 6.6. The Coase Theorem -- 7. Public Goods in Environmental Economics -- 7.1. The Lindahl Mechanism -- 7.1.1. The Concept of a Lindahl Equilibrium -- 7.1.2. Lindahl Equilibrium and Incentive Compatibility -- 7.2. Core Equivalence in a Public Goods Economy -- 7.2.1. The Core of an Economy with a Public Good -- 7.2.2. The Cost-Share Equilibrium -- 7.2.3. Core Equivalence and Cost-Share Equilibria -- 7.3. Implications for the Kyoto Protocol --
Part III. Environmental Policy : -- 8. From Theory to Policy: Information Deficits -- 8.1. Informational Requirements Regarding the Structure of the Markets -- 8.1.1. The Competition-Price Mechanism -- 8.2. Information Deficits in International Environmental Policy -- 8.3. Information Deficits Regarding Hazardous Materials and Processes -- 8.4. Consequences for Environmental Policy -- 9. Command-and-Control Policy -- 9.1. Environmental Standards and Framework Conditions -- 9.1.1. Standards in Economic Systems -- 9.1.2. Ecological Efficiency of Standards: Examples -- 9.1.3. Framework Conditions, Standards and the Private Finance Initiative -- 9.2. The Refillables Quota Issue -- 9.2.1. Facts and Developments Regarding Refillable Packaging -- 9.2.2. The Refillables Quota Issue and the German Packaging Ordinance -- 9.3. Economic Feasibility of an Environmental Policy -- 9.3.1. The Concept of Economic Feasibility -- 9.3.2. Economic Feasibility: A Formal Analysis -- 9.3.3. Economic Feasibility in a Practical Context -- 10. Integrated Approaches to Environmental Policy -- 10.1. Extended Producer Responsibility (EPR) -- 10.1.1. General Aspects of Waste Electrical and Electronic Equipment (WEEE) -- 10.1.2. EPR Approach to WEEE in Germany -- 10.1.3. EPR Approach to WEEE in Japan -- 10.2. Integrated Waste Management (IWM) -- 10.2.1. The Concept of IWM in Environmental Economics -- 10.2.2. The Implementation of IWM -- 10.2.3. IWM in Germany -- 10.3. Renewable Energy Sources -- 10.3.1. The German Renewable Energy Sources Act (EEG) -- 10.3.2. The EEG in Practice -- 10.4. Integrated Approaches: A Summary -- 11. The Price-Standard Approach to Environmental Policy -- 11.1. Market-Oriented Environmental Policies -- 11.2. Pollution Tax -- 11.2.1. Relevant Features of the Pollution Tax -- 11.2.2. Cost Efficiency of the Pollution Tax -- 11.2.3. Cost Efficiency with Spatial Differentiation -- 11.3. Ecotaxes -- 11.3.1. Aspects of an Ecotax -- 11.3.2. Theoretical Considerations Regarding an Ecotax -- 11.3.3. The Ecological Tax Reform in Germany -- 11.4. Tradeable Emission Certificates -- 11.4.1. Relevant Features of Markets for Tradeable Certificates -- 11.4.2. Emission-Oriented and Immission-Oriented Trading Schemes -- 11.5. Experiences with Markets for Tradeable Certificates -- 11.5.1. The EU Emission Trading System (EU ETS) -- 11.5.2. A Critical Assessment of the EU ETS -- 11.5.3. The US Cap and Trade Policy -- 11.5.4. Cap and Trade Policies in Other Parts of the World -- 12. The Allocation of International Environmental Commodities -- 12.1. International Environmental Agreements -- 12.2. The Principal-Agent Problem in Environmental Policy -- 12.2.1. Stability and Efficient Mitigation Strategies -- 12.2.2. The Role of Adaptation Strategies -- Part IV. The Environment in the Globalized World : -- 13. Trade and the Environment: The Legal Context -- 13.1. The Framework Conditions for International Trade -- 13.2. Environmental Aspects of the GATT and the WTO -- 13.3. Regional Trade Agreements -- 13.3.1. The Environmental Policy of the EU -- 13.3.2. The North American Free Trade Agreement (NAFTA) -- 13.4. Consequences for the Integration of Trade and the Environment -- 14. Overfishing -- 14.1. The State of Fishery Resources -- 14.2. Short-Run Supply of the Fisheries -- 14.2.1. Interdependence of Fisheries -- 14.2.2. Short-Run Supply and Fixed-Stock Equilibrium -- 14.3. Integration of Economical and Biological Aspects -- 14.3.1. A Biological Growth Process -- 14.3.2. The Bioeconomic Equilibrium -- 14.4. The Market Equilibrium -- 14.5. Conclusions from the Formal Analysis -- 14.5.1. An Analysis of Externalities in the Fishing Industry -- 14.5.2. Attempts to Internalize Externalities in Fisheries -- 14.5.3. Quota Management Systems -- 14.6. Fisheries Policies -- 14.6.1. Subsidies and Overcapacity in the Fishing Industry -- 14.6.2. Evaluating the Common Fisheries Policy of the EU -- 14.6.3. A Glance at the US Fisheries Policy -- 14.7. Overfishing: A Summary -- 15. Integration of Trade and the Environment -- 15.1. Bhagwati's "Genuine Problems" -- 15.2. Trade and the Environment: A Formal Approach -- 15.2.1. The Model -- 15.2.2. Autarky Equilibrium -- 15.2.3. Free Trade Equilibrium -- 15.3. Trade and the Environment: The Formal Integration -- 15.3.1. From Autarky to Free Trade -- 15.3.2. Harmonizing Environmental Standards -- 15.4. Regulation -- 15.5. Stackelberg Equilibrium -- 15.6. Integrating Trade and the Environment: A Summary.
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Includes bibliographical references and index.

1. Introduction -- Part I. The Environmental Movement : -- 2. Differing Views on the Environment -- 3. The International Dimension of the Environment -- Part II. Theoretical Environmental Economics : -- 4. Basics of Environmental Economics -- 5. Allocation Problems in a Market Economy -- 6. The Internalization of External Effects -- 7. Public Goods in Environmental Economics -- Part III. Environmental Policy : -- 8. From Theory to Policy: Information Deficits -- 9. Command-and-Control Policy -- 10. Integrated Approaches to Environmental Policy -- 11. The Price-Standard Approach to Environmental Policy -- 12. The Allocation of International Environmental Commodities -- Part IV. The Environment in the Globalized World : -- 13. Trade and the Environment: The Legal Context -- 14. Overfishing -- 15. Integration of Trade and the Environment -- --

1. Introduction -- 1.1. Ecology and Economy: Unequal Partners? -- 1.1.1. Environmental Economics -- 1.1.2. Why is Theory Needed for Environmental Policy? -- 1.2. Survey of the Book -- Part I. The Environmental Movement : -- 2. Differing Views on the Environment -- 2.1. The Europeans and the Environment -- 2.1.1. Environmental Awareness in Europe -- 2.1.2. Conclusions for Environmental Economics -- 2.2. The Environmental Movement in the US -- 2.3. The Developing World and the Environment -- 2.3.1. China and the Environment -- 2.3.2. India and the Environment -- 2.4. Attitudes Towards the Environment: A Summary -- 3. The International Dimension of the Environment -- 3.1. International Environmental Issues -- 3.1.1. Global Environmental Commodities -- 3.1.2. Consequences of Globalization -- 3.1.3. The Environment and International Trade -- 3.2. International Conferences and Environmental Agreements -- 3.2.1. The United Nations Conference on Environment and Development (UNCED) -- 3.2.2. The United Nations Framework Convention on Climate Change (UNFCCC) -- 3.2.3. The Kyoto Protocol -- 3.2.4. Copenhagen, Cancun, Durban and Rio? -- Part II. Theoretical Environmental Economics : -- 4. Basics of Environmental Economics -- 4.1. Fundamental Concepts -- 4.1.1. Environmental Awareness and Perceived Scarcity -- 4.1.2. Environmental Commodities and Allocation Problems -- 4.2. Efficiency as a Normative Criterion for Environmental Economics -- 4.2.1. Economic Efficiency and the Environment: Theory -- 4.2.2. Economic Efficiency and the Environment: Applications -- 5. Allocation Problems in a Market Economy -- 5.1. Efficient Equilibrium Allocations -- 5.1.1. The Model Economy -- 5.1.2. Market Equilibrium -- 5.2. Environmental Effects in a Market Economy -- 5.2.1. The Concept of an External Effect -- 5.2.2. Analysis of an Externality -- 5.2.3. Market Equilibrium with External Effects -- 5.3. Public Commodities in Environmental Economics -- 5.3.1. The Prisoners' Dilemma in an Environmental Context -- 5.3.2. The Prisoners' Dilemma and the Kyoto Protocol -- 5.3.3. The Tragedy of the Commons -- 6. The Internalization of External Effects -- 6.1. External Effects and Missing Markets -- 6.1.1. Supplementing the Market System -- 6.2. The Pigou Tax -- 6.3. Firm-Specific Prices for an Environmental Commodity -- 6.4. Tradeable Emission Certificates -- 6.5. Pollution Rights -- 6.6. The Coase Theorem -- 7. Public Goods in Environmental Economics -- 7.1. The Lindahl Mechanism -- 7.1.1. The Concept of a Lindahl Equilibrium -- 7.1.2. Lindahl Equilibrium and Incentive Compatibility -- 7.2. Core Equivalence in a Public Goods Economy -- 7.2.1. The Core of an Economy with a Public Good -- 7.2.2. The Cost-Share Equilibrium -- 7.2.3. Core Equivalence and Cost-Share Equilibria -- 7.3. Implications for the Kyoto Protocol --

Part III. Environmental Policy : -- 8. From Theory to Policy: Information Deficits -- 8.1. Informational Requirements Regarding the Structure of the Markets -- 8.1.1. The Competition-Price Mechanism -- 8.2. Information Deficits in International Environmental Policy -- 8.3. Information Deficits Regarding Hazardous Materials and Processes -- 8.4. Consequences for Environmental Policy -- 9. Command-and-Control Policy -- 9.1. Environmental Standards and Framework Conditions -- 9.1.1. Standards in Economic Systems -- 9.1.2. Ecological Efficiency of Standards: Examples -- 9.1.3. Framework Conditions, Standards and the Private Finance Initiative -- 9.2. The Refillables Quota Issue -- 9.2.1. Facts and Developments Regarding Refillable Packaging -- 9.2.2. The Refillables Quota Issue and the German Packaging Ordinance -- 9.3. Economic Feasibility of an Environmental Policy -- 9.3.1. The Concept of Economic Feasibility -- 9.3.2. Economic Feasibility: A Formal Analysis -- 9.3.3. Economic Feasibility in a Practical Context -- 10. Integrated Approaches to Environmental Policy -- 10.1. Extended Producer Responsibility (EPR) -- 10.1.1. General Aspects of Waste Electrical and Electronic Equipment (WEEE) -- 10.1.2. EPR Approach to WEEE in Germany -- 10.1.3. EPR Approach to WEEE in Japan -- 10.2. Integrated Waste Management (IWM) -- 10.2.1. The Concept of IWM in Environmental Economics -- 10.2.2. The Implementation of IWM -- 10.2.3. IWM in Germany -- 10.3. Renewable Energy Sources -- 10.3.1. The German Renewable Energy Sources Act (EEG) -- 10.3.2. The EEG in Practice -- 10.4. Integrated Approaches: A Summary -- 11. The Price-Standard Approach to Environmental Policy -- 11.1. Market-Oriented Environmental Policies -- 11.2. Pollution Tax -- 11.2.1. Relevant Features of the Pollution Tax -- 11.2.2. Cost Efficiency of the Pollution Tax -- 11.2.3. Cost Efficiency with Spatial Differentiation -- 11.3. Ecotaxes -- 11.3.1. Aspects of an Ecotax -- 11.3.2. Theoretical Considerations Regarding an Ecotax -- 11.3.3. The Ecological Tax Reform in Germany -- 11.4. Tradeable Emission Certificates -- 11.4.1. Relevant Features of Markets for Tradeable Certificates -- 11.4.2. Emission-Oriented and Immission-Oriented Trading Schemes -- 11.5. Experiences with Markets for Tradeable Certificates -- 11.5.1. The EU Emission Trading System (EU ETS) -- 11.5.2. A Critical Assessment of the EU ETS -- 11.5.3. The US Cap and Trade Policy -- 11.5.4. Cap and Trade Policies in Other Parts of the World -- 12. The Allocation of International Environmental Commodities -- 12.1. International Environmental Agreements -- 12.2. The Principal-Agent Problem in Environmental Policy -- 12.2.1. Stability and Efficient Mitigation Strategies -- 12.2.2. The Role of Adaptation Strategies -- Part IV. The Environment in the Globalized World : -- 13. Trade and the Environment: The Legal Context -- 13.1. The Framework Conditions for International Trade -- 13.2. Environmental Aspects of the GATT and the WTO -- 13.3. Regional Trade Agreements -- 13.3.1. The Environmental Policy of the EU -- 13.3.2. The North American Free Trade Agreement (NAFTA) -- 13.4. Consequences for the Integration of Trade and the Environment -- 14. Overfishing -- 14.1. The State of Fishery Resources -- 14.2. Short-Run Supply of the Fisheries -- 14.2.1. Interdependence of Fisheries -- 14.2.2. Short-Run Supply and Fixed-Stock Equilibrium -- 14.3. Integration of Economical and Biological Aspects -- 14.3.1. A Biological Growth Process -- 14.3.2. The Bioeconomic Equilibrium -- 14.4. The Market Equilibrium -- 14.5. Conclusions from the Formal Analysis -- 14.5.1. An Analysis of Externalities in the Fishing Industry -- 14.5.2. Attempts to Internalize Externalities in Fisheries -- 14.5.3. Quota Management Systems -- 14.6. Fisheries Policies -- 14.6.1. Subsidies and Overcapacity in the Fishing Industry -- 14.6.2. Evaluating the Common Fisheries Policy of the EU -- 14.6.3. A Glance at the US Fisheries Policy -- 14.7. Overfishing: A Summary -- 15. Integration of Trade and the Environment -- 15.1. Bhagwati's "Genuine Problems" -- 15.2. Trade and the Environment: A Formal Approach -- 15.2.1. The Model -- 15.2.2. Autarky Equilibrium -- 15.2.3. Free Trade Equilibrium -- 15.3. Trade and the Environment: The Formal Integration -- 15.3.1. From Autarky to Free Trade -- 15.3.2. Harmonizing Environmental Standards -- 15.4. Regulation -- 15.5. Stackelberg Equilibrium -- 15.6. Integrating Trade and the Environment: A Summary.

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