Download or read book Price Based Vs Quantity Based Environmental Regulation Under Knightian Uncertainty written by John Stranlund and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom among environmental economists is that the relative slopes of the marginal social benefit and marginal social cost functions determine whether a price-based or quantity-based environmental regulation leads to higher expected social welfare. We revisit the choice between price-based vs. quantity-based environmental regulation under Knightian uncertainty; that is, when uncertainty cannot be modeled with known probability distributions. Under these circumstances, the policy objective cannot be to maximize the expected net benefits of emissions control. Instead, we evaluate an emissions tax and an aggregate abatement standard in terms of maximizing the range of uncertainty under which the welfare loss from error in the estimates of the marginal benefits and costs of emissions control can be limited. The main result of our work is that the same criterion involving the relative slopes of the marginal benefit and cost functions determines whether price-based or quantity-based control is more robust to unstructured uncertainty. Hence, not only does the relative slopes criterion lead to the policy that maximizes the expected net benefits of control under structured uncertainty, it also leads to the policy that maximizes robustness to unstructured uncertainty.
Download or read book Policy Instruments for Environmental and Natural Resource Management written by Thomas Sterner and published by Routledge. This book was released on 2013-10-30 with total page 707 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thomas Sterner's book is an attempt to encourage more widespread and careful use of economic policy instruments. The book compares the accumulated experiences of the use of economic policy instruments in the U.S. and Europe, as well as in rich and poor countries in Asia, Africa, and Latin America. Ambitious in scope, it discusses the design of instruments that can be employed in any country in a wide range of contexts, including transportation, industrial pollution, water pricing, waste, fisheries, forests, and agriculture. While deeply rooted in economics, Policy Instruments for Environmental and Natural Resource Management is informed by political, legal, ecological, and psychological research. The new edition enhances what has already been widely hailed as a highly innovative work. The book includes greatly expanded coverage of climate change, covering aspects related to policy design, international equity and discounting, voluntary carbon markets, permit trading in United States, and the Clean Development Mechanism. Focusing ever more on leading ideas in both theory and policy, the new edition brings experimental economics into the main of its discussions. It features expanded coverage of the monitoring and enforcement of environmental policy, technological change, the choice of policy instruments under imperfect competition, and subjects such as corporate social responsibility, bio-fuels, payments for ecosystem services, and REDD.
Download or read book Environmental Sustainability and American Public Administration written by J. Michael Martinez and published by Lexington Books. This book was released on 2016-11-01 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: Protecting the natural environment and promoting environmental sustainability have become important objectives for U.S. policymakers and public administrators at the dawn of the twenty-first century. Institutions of American government, especially at the federal level, and the public administrators who work inside of those institutions, play a crucial role in developing and implementing environmental sustainability policies. This book explores these salient issues logically. First, it explores fundamental concepts such as what it means to be environmentally sustainable, how economic issues affect environmental policy, and the philosophical schools of thought about what policies ought to be considered sustainable. From there, it focuses on processes and institutions affecting public administration and its role in the policy process. Accordingly, it summarizes the rise of the administrative state in the United States and then reviews the development of federal environmental laws and policies with an emphasis on late twentieth century developments. This book also discusses the evolution of American environmentalism by outlining the history of the environmental movement and the growth of the environmental lobby. Finally, this book synthesizes the information to discuss how public administration can promote environmental sustainability.
Download or read book Encyclopedia of Energy Natural Resource and Environmental Economics written by and published by Newnes. This book was released on 2013-03-29 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every decision about energy involves its price and cost. The price of gasoline and the cost of buying from foreign producers; the price of nuclear and hydroelectricity and the costs to our ecosystems; the price of electricity from coal-fired plants and the cost to the atmosphere. Giving life to inventions, lifestyle changes, geopolitical shifts, and things in-between, energy economics is of high interest to Academia, Corporations and Governments. For economists, energy economics is one of three subdisciplines which, taken together, compose an economic approach to the exploitation and preservation of natural resources: energy economics, which focuses on energy-related subjects such as renewable energy, hydropower, nuclear power, and the political economy of energy resource economics, which covers subjects in land and water use, such as mining, fisheries, agriculture, and forests environmental economics, which takes a broader view of natural resources through economic concepts such as risk, valuation, regulation, and distribution Although the three are closely related, they are not often presented as an integrated whole. This Encyclopedia has done just that by unifying these fields into a high-quality and unique overview. The only reference work that codifies the relationships among the three subdisciplines: energy economics, resource economics and environmental economics. Understanding these relationships just became simpler! Nobel Prize Winning Editor-in-Chief (joint recipient 2007 Peace Prize), Jason Shogren, has demonstrated excellent team work again, by coordinating and steering his Editorial Board to produce a cohesive work that guides the user seamlessly through the diverse topics This work contains in equal parts information from and about business, academic, and government perspectives and is intended to serve as a tool for unifying and systematizing research and analysis in business, universities, and government
Download or read book Bounded Rationality and Behavioural Economics written by Graham Mallard and published by Routledge. This book was released on 2015-08-14 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics Nobel Laureate Herbert Simon developed the concept of bounded rationality in the 1950s. This asserts that the cognitive abilities of human decision-makers are not always sufficient to find optimal solutions to complex real-life problems, leading decision-makers to find satisfactory, sub-optimal outcomes. This was a foundational component of the development of Behavioural Economics but in recent years the two fields have diverged, each with its own literature, its own approach and its own proponents. Behavioural Economics explores the areas of commonality between Economics and Psychology, in terms of its focus and its approach, whereas the bounded rationality literature largely analyses the implications of sub-optimal decision‐making through the mathematically sophisticated methodology of mainstream Economics. This book examines the nature and consequences of this divergence and questions whether this is a case of beneficial specialisation or whether it is unhelpful, potentially stunting the development of some aspects of Economics. It has been suggested that the major deficiency of Behavioural Economics is that it has failed to produce a single, widely applicable alternative to constrained optimisation. This book evaluates the extent to which this is the true and, if it is, the extent to which it is a product of the divergence between the two literatures. It also seeks to identify commonalities between the two subjects and suggests avenues of research in Economics that would benefit from a re-fusion of these two fields.
Download or read book Robust Optimal Planning and Operation of Electrical Energy Systems written by Behnam Mohammadi-ivatloo and published by Springer. This book was released on 2019-02-06 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the recent developments in robust optimization (RO) and information gap design theory (IGDT) methods and their application for the optimal planning and operation of electric energy systems. Chapters cover both theoretical background and applications to address common uncertainty factors such as load variation, power market price, and power generation of renewable energy sources. Case studies with real-world applications are included to help undergraduate and graduate students, researchers and engineers solve robust power and energy optimization problems and provide effective and promising solutions for the robust planning and operation of electric energy systems.
Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Download or read book Policy Instruments for Environmental and Natural Resource Management written by Thomas Professor Sterner and published by Routledge. This book was released on 2010-09-30 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Thomas Sterner points out, the economic 'toolkit' for dealing with environmental problems has become formidable. It includes taxes, charges, permits, deposit-refund systems, labeling, and other information disclosure mechanisms. Though not all these devices are widely used, empirical application has started within some sectors, and we are beginning to see the first systematic efforts at an advanced policy design that takes due account of market-based incentives. Sterner‘s book encourages more widespread and careful use of economic policy instruments. Intended primarily for application in developing and transitional countries, the book compares the accumulated experiences of the use of economic policy instruments in the U.S. and Europe, as well as in select rich and poor countries in Asia, Africa, and Latin America. Ambitious in scope, the book discusses the design of instruments that can be employed in a wide range of contexts, including transportation, industrial pollution, water pricing, waste, fisheries, forests, and agriculture. Policy Instruments for Environmental and Natural Resource Management is deeply rooted in economics but also informed by perspectives drawn from political, legal, ecological, and psychological research. Sterner notes that, in addition to meeting requirements for efficiency, the selection and design of policy instruments must satisfy criteria involving equity and political acceptability. He is careful to distinguish between the well-designed plans of policymakers and the resulting behavior of society. A copublication of Resources for the Future, the World Bank, and the Swedish International Development Cooperation Agency (Sida).
Download or read book Info Gap Decision Theory written by Yakov Ben-Haim and published by Elsevier. This book was released on 2006-10-11 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everyone makes decisions, but not everyone is a decision analyst. A decision analyst uses quantitative models and computational methods to formulate decision algorithms, assess decision performance, identify and evaluate options, determine trade-offs and risks, evaluate strategies for investigation, and so on. Info-Gap Decision Theory is written for decision analysts. The term "decision analyst" covers an extremely broad range of practitioners. Virtually all engineers involved in design (of buildings, machines, processes, etc.) or analysis (of safety, reliability, feasibility, etc.) are decision analysts, usually without calling themselves by this name. In addition to engineers, decision analysts work in planning offices for public agencies, in project management consultancies, they are engaged in manufacturing process planning and control, in financial planning and economic analysis, in decision support for medical or technological diagnosis, and so on and on. Decision analysts provide quantitative support for the decision-making process in all areas where systematic decisions are made. This second edition entails changes of several sorts. First, info-gap theory has found application in several new areas - especially biological conservation, economic policy formulation, preparedness against terrorism, and medical decision-making. Pertinent new examples have been included. Second, the combination of info-gap analysis with probabilistic decision algorithms has found wide application. Consequently "hybrid" models of uncertainty, which were treated exclusively in a separate chapter in the previous edition, now appear throughout the book as well as in a separate chapter. Finally, info-gap explanations of robust-satisficing behavior, and especially the Ellsberg and Allais "paradoxes", are discussed in a new chapter together with a theorem indicating when robust-satisficing will have greater probability of success than direct optimizing with uncertain models. New theory developed systematically Many examples from diverse disciplines Realistic representation of severe uncertainty Multi-faceted approach to risk Quantitative model-based decision theory
Download or read book Confronting Climate Uncertainty in Water Resources Planning and Project Design written by Patrick A. Ray and published by World Bank Publications. This book was released on 2015-08-20 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: Confronting Climate Uncertainty in Water Resources Planning and Project Design describes an approach to facing two fundamental and unavoidable issues brought about by climate change uncertainty in water resources planning and project design. The first is a risk assessment problem. The second relates to risk management. This book provides background on the risks relevant in water systems planning, the different approaches to scenario definition in water system planning, and an introduction to the decision-scaling methodology upon which the decision tree is based. The decision tree is described as a scientifically defensible, repeatable, direct and clear method for demonstrating the robustness of a project to climate change. While applicable to all water resources projects, it allocates effort to projects in a way that is consistent with their potential sensitivity to climate risk. The process was designed to be hierarchical, with different stages or phases of analysis triggered based on the findings of the previous phase. An application example is provided followed by a descriptions of some of the tools available for decision making under uncertainty and methods available for climate risk management. The tool was designed for the World Bank but can be applicable in other scenarios where similar challenges arise.
Download or read book Informal Regulation of Industrial Pollution in Developing Countries written by Sheoli Pargal and published by World Bank Publications. This book was released on 1995 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OECD Reviews of Regulatory Reform Risk and Regulatory Policy Improving the Governance of Risk written by OECD and published by OECD Publishing. This book was released on 2010-05-06 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication presents recent OECD papers on risk and regulatory policy. They offer measures for developing, or improving, coherent risk governance policies.
Download or read book Preference Data for Environmental Valuation written by John Whitehead and published by Routledge. This book was released on 2012-03-15 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: The monetary valuation of environmental goods and services has evolved from a fringe field of study in the late 1970s and early 1980s to a primary focus of environmental economists over the past decade. Despite its rapid growth, practitioners of valuation techniques often find themselves defending their practices to both users of the results of applied studies and, perhaps more troubling, to other practitioners. One of the more heated threads of this internal debate over valuation techniques revolves around the types of data to use in performing a valuation study. In the infant years of the development of valuation techniques, two schools of thought emerged: the revealed preference school and the stated preference school, the latter of which is perhaps most associated with the contingent valuation method. In the midst of this debate an exciting new approach to non-market valuation was developed in the 1990s: a combination and joint estimation of revealed preference and stated preference data. There are two primary objectives for this book. One objective is to fill a gap in the nonmarket valuation "primer" literature. A number of books have appeared over the past decade that develop the theory and methods of nonmarket valuation but each takes an individual nonmarket valuation method approach. This book considers each of these valuation methods in combination with another method. These relationships can be exploited econometrically to obtain more valid and reliable estimates of willingness-to-pay relative to the individual methods. The second objective is to showcase recent and novel applications of data combination and joint estimation via a set of original, state-of-the-art studies that are contributed by leading researchers in the field. This book will be accessible to economists and consultants working in business or government, as well as an invaluable resource for researchers and students alike.
Download or read book The Regional Impacts of Climate Change written by Intergovernmental Panel on Climate Change. Working Group II. and published by Cambridge University Press. This book was released on 1998 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cambridge, UK : Cambridge University Press, 1998.
Download or read book Organizational Myopia written by Maurizio Catino and published by Cambridge University Press. This book was released on 2013-02-14 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book examines the mechanisms that generate myopia in organizations and explores how organizations can foresee and contain unexpected events.
Download or read book Sustainability written by Felix Ekardt and published by Springer Nature. This book was released on with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Climate Change Impacts in the United States written by U.S. Global Change Research Program and published by Cambridge University Press. This book was released on 2009-08-24 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summarizes the science of climate change and impacts on the United States, for the public and policymakers.
