Environmental and Natural Resource Economics (The Pearson Series in Economics)

For courses in environmental economics Environmental & Natural Resource Economics is the best-selling text for this course, offering a policy-oriented approach and introducing economic theory in the context of debates and empirical work from the field. You will leave the course with a global perspective of both environmental and natural resource economics. Gain flexibility in your course outlines: The text is organized, so that you can fit individual course outlines. Use relevant material: Students identify with up-to-date information, which gives them a global perspective on key issues. Engage students with self- test exercises, debates and examples: Students are able to prepare for their field and learn from an active learning path, which allows them to grasp concepts before moving though the text. Preface -- Visions Of The Future -- The Economic Approach : Property Rights, Externalities, And Environmental Problems -- Evaluating Trade-offs : Benefit-cost Analysis And Other Decision-making Metrics -- Valuing The Environment : Methods -- Dynamic Efficiency And Sustainable Development -- Depletable Resource Allocation : The Role Of Longer Time Horizons, Substitutes, And Extraction Cost -- Energy : The Transition From Depletable To Renewable Resources -- Recyclable Resources : Minerals, Paper, Bottles, And E-waste -- Water : A Confluence Of Renewable And Depletable Resources -- A Locationally Fixed, Multipurpose Resource : Land -- Storable, Renewable Resources : Forests -- Common-pool Resources : Commercially Valuable Fisheries -- Ecosystem Goods And Services : Nature's Threatened Bounty -- Economics Of Pollution Control : An Overview -- Stationary-source Local And Regional Air Pollution -- Climate Change -- Mobile-source Air Pollution -- Water Pollution -- Toxic Substances And Environmental Justice -- The Quest For Sustainable Development -- Visions Of The Future Revisited -- Answers To Self-test Exercises -- Glossary -- Name Index -- Subject Index. Tom Tietenberg, Emeritus, Colby College, Lynne Lewis, Bates College. Includes Bibliographical References And Indexes. Environmental & Natural Resource Economics is the best-selling text for this course, offering a policy-oriented approach and introducing economic theory in the context of debates and empirical work from the field. Students leave the course with a global perspective of both environmental and natural resource economics. Tom Tietenberg and his new coauthor, Lynne Lewis (Bates College), emphasize a theme of sustainability in the Eighth Edition and include an all-new chapter on the economics of land allocation and land use conversion. Critical new discussions are incorporated throughout, such as the strategic petroleum reserve, the growth of corn for fuel, and the recent debates over wind power, ecotourism, and aquaculture Comparing Benefits and Costs across Time -- Dynamic Efficiency -- Applying the Concepts -- Pollution Control -- Estimating Benefits of Carbon Dioxide Emission Reductions -- EXAMPLE 3.1 Does Reducing Pollution Make Economic Sense? Evidence from the Clean Air Act -- EXAMPLE 3.2 Using the Social Cost of Capital: The DOE Microwave Oven Rule -- Issues in Benefit Estimation -- Approaches to Cost Estimation -- The Treatment of Risk -- Distribution of Benefits and Costs -- Choosing the Discount Rate -- EXAMPLE 3.3 The Importance of the Discount Rate -- Divergence of Social and Private Discount Rates DEBATE 1.2 What Does the Future Hold? -- An Overview of the Book -- Summary -- Discussion Questions -- Self-Test Exercise -- Further Reading -- 2 The Economic Approach: Property Rights, Externalities, and Environmental Problems -- Introduction -- The Human-Environment Relationship -- The Environment as an Asset -- The Economic Approach -- EXAMPLE 2.1 Economic Impacts of Reducing Hazardous Pollutant Emissions from Iron and Steel Foundries -- Environmental Problems and Economic Efficiency -- Static Efficiency -- Property Rights -- Property Rights and Efficient Market Allocations Private Resolution through Negotiation-Property, Liability and the Coase Theorem -- Legislative and Executive Regulation -- EXAMPLE 2.4 Can Eco-Certification Make a Difference? Organic Costa Rican Coffee -- An Efficient Role for Government -- Summary -- Discussion Questions -- Self-Test Exercises -- Further Reading -- 3 Evaluating Trade-Offs: Benefit-Cost Analysis and Other Decision-Making Metrics -- Introduction -- Normative Criteria for Decision Making -- Evaluating Predefined Options: Benefit-Cost Analysis -- Finding the Optimal Outcome -- Relating Optimality to Efficiency Cover -- Half Title -- Title Page -- Copyright Page -- Contents in Brief -- Table of Contents -- Preface -- 1 Visions of the Future -- Introduction -- The Self-Extinction Premise -- EXAMPLE 1.1 A Tale of Two Cultures -- Future Environmental Challenges -- Climate Change -- Water Accessibility -- Meeting the Challenges -- How Will Societies Respond? -- The Role of Economics -- DEBATE 1.1 Ecological Economics versus Environmental Economics -- The Use of Models -- EXAMPLE 1.2 Experimental Economics: Studying Human Behavior in a Laboratory -- The Road Ahead -- The Issues __For courses in environmental economics__ **__Environmental & Natural Resource Economics__** * **Gain flexibility in your course outlines:** The text is organized, so that you can fit individual course outlines. * **Use relevant material:** Students identify with up-to-date information, which gives them a global perspective on key issues. * **Engage students with self-** **test exercises, debates and examples:** Students are able to prepare for their field and learn from an active learning path, which allows them to grasp concepts before moving though the text. Efficient Property Rights Structures -- Producer's Surplus, Scarcity Rent, and Long-Run Competitive Equilibrium -- Externalities as a Source of Market Failure -- The Concept Introduced -- Types of Externalities -- EXAMPLE 2.2 Shrimp Farming Externalities in Thailand -- Perverse Incentives Arising from Some Property Right Structures -- Public Goods -- Imperfect Market Structures -- EXAMPLE 2.3 Public Goods Privately Provided: The Nature Conservancy -- Asymmetric Information -- Government Failure -- The Pursuit of Efficiency "Environmental and Natural Resource Economics introduces students to the intriguing environmental and natural resource policy problems of today through the integrated discussion of economic theory and empirical evidence. It is designed to serve students who have completed either an introductory economics or an intermediate microeconomics course."--BOOK JACKET. DEBATE 3.1 Discounting over Long Time Horizons: Should Discount Rates Decline?