Environmental Economics and Management Theory, Policy and Applications

by Callan, Scott J.; Thomas, Janet M.

• ISBN13: 9780324171815
• ISBN10: 0324171811
• Edition: 3rd
• Format: Hardcover
• Copyright: 2003-03-12
• Publisher: South-Western College Pub

Summary

By retaining a strong focus on policy and real-world issues, Environmental Economics and Management: Theory, Policy and Applications, provides an applied, practical approach to environmental economic theory accessible to students with minimal or more advanced economic exposure. The text has a modular structure, which not only organizes the presentation, but also provides a format that allows instructors flexibility and preference in designing material for the course. The presentation does not compromise economic theoretical concepts, but it does complement economic theory with timely, real-world applications. This text is intended to give undergraduate and MBA students a clear perspective of the relationship between market activity and the environment. The text integrates the business perspective in the development of environmental decision-making - a vantage point often overlooked in more conventional treatments. The general approach uses economic analytical tools such as market mo

Table of Contents

Modeling Environmental Problems	p. 1
The Role of Economics in Environmental Management	p. 2
Economics and the Environment	p. 2
Fundamental Concepts in Environmental Economics	p. 6
Identifying Environmental Objectives	p. 10
Environmental Policy Planning: An Overview	p. 14
Conclusions	p. 18
Summary	p. 19
Key Concepts	p. 20
Review Questions	p. 21
Additional Readings	p. 22
Related Web Sites	p. 23
Modeling the Market Process: A Review of the Basics	p. 24
Market Models: The Fundamentals	p. 24
The Model of Supply and Demand: An Overview	p. 25
Market Demand	p. 26
Market Supply	p. 30
Market Equilibrium	p. 35
Economic Criteria of Efficiency	p. 38
Welfare Measures: Consumer Surplus and Producer Surplus	p. 42
Conclusions	p. 46
Summary	p. 47
Key Concepts	p. 48
Review Questions	p. 48
Additional Readings	p. 49
Related Web Sites	p. 49
Modeling Market Failure	p. 50
Environmental Problems: A Market Failure	p. 50
Environmental Quality: A Public Good	p. 51
Modeling a Public Goods Market for Environmental Quality	p. 52
Environmental Problems: Externalities	p. 59
Modeling Environmental Damage As a Negative Externality	p. 62
The Absence of Property Rights	p. 68
Conclusions	p. 72
Summary	p. 72
Key Concepts	p. 73
Review Questions	p. 73
Additional Readings	p. 74
Related Web Sites	p. 75
Modeling Solutions to Environmental Problems	p. 76
Conventional Solutions to Environmental Problems: The Command-and-Control Approach	p. 78
Use of Standards in Environmental Policy	p. 78
Are Environmental Standards Set at an Allocatively Efficient Level?	p. 79
General Approaches to Implementing Environmental Policy	p. 88
Is the Command-and-Control Approach Cost-Effective?	p. 89
Conclusions	p. 93
Summary	p. 93
Key Concepts	p. 94
Review Questions	p. 94
Additional Readings	p. 95
Related Web Sites	p. 95
Economic Solutions to Environmental Problems: The Market Approach	p. 96
Descriptive Overview	p. 96
Pollution Charges	p. 98
Environmental Subsidies	p. 103
Deposit/Refund Systems	p. 108
Pollution Permit Trading Systems	p. 111
Conclusions	p. 115
Summary	p. 117
Key Concepts	p. 117
Review Questions	p. 117
Additional Readings	p. 118
Related Web Sites	p. 119
Analytical Tools for Environmental Planning	p. 120
Environmental Risk Analysis	p. 122
Concept of Risk	p. 122
Risk Assessment in Environmental Decision Making	p. 125
Risk Management in Environmental Decision Making: Responding to Risk	p. 131
Conclusions	p. 137
Summary	p. 138
Key Concepts	p. 138
Review Questions	p. 139
Additional Readings	p. 140
Related Web Sites	p. 141
Assessing Benefits for Environmental Decision Making	p. 142
Identifying and Valuing Environmental Benefits: Conceptual Issues	p. 142
Approaches to Measuring Environmental Benefits: Overview	p. 149
Estimation Under the Physical Linkage Approach	p. 151
Direct Estimation Methods Under the Behavioral Linkage Approach	p. 153
Indirect Estimation Methods Under the Behavioral Linkage Approach	p. 156
Conclusions	p. 161
Summary	p. 162
Key Concepts	p. 163
Review Questions	p. 163
Additional Readings	p. 164
Related Web Sites	p. 165
Assessing Costs for Environmental Decision Making	p. 166
Identifying and Valuing Environmental Costs: Conceptual Issues	p. 166
Estimation Methods for Measuring Explicit Costs	p. 171
Conclusions	p. 175
Summary	p. 177
Key Concepts	p. 177
Review Questions	p. 178
Additional Readings	p. 178
Related Web Sites	p. 179
Benefit-Cost Analysis in Environmental Decision Making	p. 180
Adjusting for the Time Dimension of Environmental Benefits and Costs	p. 181
The Final Analysis: Comparing Environmental Benefits and Costs	p. 185
Reservations About the Use of Benefit-Cost Analysis	p. 187
U.S. Government Support of Benefit-Cost Analysis	p. 187
Reducing Lead in Gasoline: A Regulatory Impact Analysis	p. 192
Conclusions	p. 195
Summary	p. 196
Key Concepts	p. 196
Review Questions	p. 197
Additional Readings	p. 198
Related Web Sites	p. 199
The Case of Air	p. 200
Defining Air Quality: The Standard-Setting Process	p. 202
Overview of Air Quality Legislation in the United States	p. 203
Defining the Objectives of Air Quality Control	p. 206
Setting Standards as a National Definition of Air Quality	p. 207
Establishing an Infrastructure to Implement the Standards	p. 210
Economic Analysis of U.S. Air Quality Policy	p. 215
Benefit-Cost Analysis of the Clean Air Act	p. 215
Benefit-Cost Analysis of the Air Quality Standards	p. 223
Conclusions	p. 227
Summary	p. 228
Key Concepts	p. 230
Review Questions	p. 230
Additional Readings	p. 231
Related Web Sites	p. 232
A Reference to Acronyms and Terms Used in Air Quality Control Policy	p. 233
Improving Air Quality: Controlling Mobile Sources	p. 234
Urban Air Pollution: An Important Policy Motivation	p. 234
Controlling Mobile Sources	p. 239
Economic Analysis of Mobile Source Controls	p. 243
Conclusions	p. 251
Summary	p. 251
Key Concepts	p. 252
Review Questions	p. 252
Additional Readings	p. 252
Related Web Sites	p. 253
A Reference to Acronyms and Terms Used in Mobile Source Control Policy	p. 255
Improving Air Quality: Controlling Stationary Sources	p. 256
Controlling Stationary Sources	p. 256
Controlling Acidic Deposition	p. 261
Economic Analysis of Stationary Source Controls	p. 263
Conclusions	p. 277
Summary	p. 277
Key Concepts	p. 278
Review Questions	p. 278
Additional Readings	p. 279
Related Web Sites	p. 279
A Reference to Acronyms and Terms Used in Stationary Source Control Policy	p. 281
Global Air Quality: Policies for Ozone Depletion and Global Warming	p. 282
The Problem of Ozone Depletion	p. 282
Controlling Ozone Depletion	p. 283
Economic Analysis of U.S. Policy on Ozone Depletion	p. 288
The Problem of Greenhouse Gases and Global Warming	p. 290
Policy Response to Global Warming	p. 295
Economic Analysis of Global Warming Control Policies	p. 302
Conclusions	p. 307
Summary	p. 308
Key Concepts	p. 310
Review Questions	p. 310
Additional Readings	p. 310
Related Web Sites	p. 311
A Reference to Acronyms and Terms in Global Air Quality Control Policy	p. 313
The Case of Water	p. 314
Defining Water Quality: The U.S. Clean Water Act	p. 316
Understanding Water Resources for Policy Development	p. 317
Water Quality Legislation in the United States: Overview	p. 321
Policy Objectives Under the Clean Water Act (CWA)	p. 324
Defining Water Quality: Standard-Setting Under the Clean Water Act	p. 327
Analysis of Receiving Water Quality Standards	p. 328
Benefit-Cost Analysis of U.S. Water Quality Control Policy	p. 330
Conclusions	p. 339
Summary	p. 339
Key Concepts	p. 340
Review Questions	p. 340
Additional Readings	p. 341
Related Web Sites	p. 342
A Reference to Acronyms and Terms in Water Quality Control Policy	p. 343
Improving Water Quality: Controlling Point and Nonpoint Sources	p. 344
Controlling Point Sources: Effluent Limitations	p. 344
Analysis of Effluent Limitations on Point Sources	p. 346
Waste Treatment Management and the POTW Program	p. 350
Analysis of the POTW Funding Program	p. 351
Controlling Nonpoint Sources	p. 354
Analysis of Controls on Nonpoint Sources	p. 355
Proposals for Reform: Using the Market	p. 359
Conclusions	p. 366
Summary	p. 367
Key Concepts	p. 368
Review Questions	p. 368
Additional Readings	p. 369
Related Web Sites	p. 370
A Reference to Acronyms and Terms in Water Quality Control Policy	p. 371
Protecting Drinking Water: The U.S. Safe Drinking Water Act	p. 372
The Evolution of U.S. Safe Drinking Water Legislation	p. 372
Directives of the Safe Drinking Water Act	p. 375
Setting Standards to Define Safe Drinking Water	p. 379
Analysis of U.S. Safe Drinking Water Policy	p. 381
Economic Principles in Pricing Water Supplies	p. 388
Conclusions	p. 392
Summary	p. 392
Key Concepts	p. 393
Review Questions	p. 394
Additional Readings	p. 395
Related Web Sites	p. 396
A Reference to Acronyms and Terms in Drinking Water Quality Control	p. 397
The Case of Solid Wastes and Toxic Substances	p. 398
Managing Hazardous Solid Waste and Waste Sites	p. 400
Characterizing the Hazardous Waste Problem	p. 400
Evolution of U.S. Solid Waste Policy	p. 404
Controlling Hazardous Wastes: RCRA	p. 409
Analysis of U.S. Hazardous Waste Policy	p. 411
Managing Uncontrolled Hazardous Waste Sites: CERCLA	p. 419
An Analysis of Superfund	p. 421
Conclusions	p. 425
Summary	p. 426
Key Concepts	p. 427
Review Questions	p. 428
Additional Readings	p. 429
Related Web Sites	p. 430
A Reference to Acronyms and Terms in Hazardous Waste Control Policy	p. 431
Managing Municipal Solid Waste	p. 432
Characterizing Municipal Solid Waste	p. 433
The Policy Response: An Overview	p. 438
Modeling the Market for MSW Management Services	p. 440
Market Approaches to MSW Policy	p. 446
Conclusions	p. 452
Summary	p. 453
Key Concepts	p. 454
Review Questions	p. 454
Additional Readings	p. 455
Related Web Sites	p. 456
A Reference to Acronyms and Terms in Municipal Solid Waste Policy	p. 457
Controlling Toxic Chemicals: Production, Use, and Disposal	p. 458
Overview of U.S. Pesticide Controls: FIFRA	p. 459
Analysis of FIFRA	p. 464
Overview of U.S. Legislation on Toxic Substances: TSCA	p. 465
Analysis of TSCA	p. 467
Economic Analysis of U.S. Solid Waste and Toxics Policy	p. 470
Conclusions	p. 477
Summary	p. 478
Key Concepts	p. 479
Review Questions	p. 479
Additional Readings	p. 479
Related Web Sites	p. 480
A Reference to Acronyms and Terms in Toxic Substances Policy Control	p. 481
Global Environmental Management	p. 482
Sustainable Development: International Trade and International Agreements	p. 484
Sustainable Development as a Global Objective	p. 484
Global Framework for Sustainable Development	p. 487
International Agreements to Control Transboundary Pollution	p. 491
International Trade and Environmental Protection	p. 494
Conclusions	p. 500
Summary	p. 501
Key Concepts	p. 502
Review Questions	p. 503
Additional Readings	p. 504
Related Web Sites	p. 505
Sustainable Approaches: Industrial Ecology and Pollution Prevention	p. 506
Industrial Ecology: A Systems Approach to Sustainable Development	p. 506
Pollution Prevention	p. 513
Strategic Initiatives and Programs	p. 520
Conclusions	p. 525
Summary	p. 526
Key Concepts	p. 527
Review Questions	p. 527
Additional Readings	p. 528
Related Web Sites	p. 529
Appendix	p. 530
References	p. 542
Glossary	p. 562
Index	p. 571
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