The Theory of Environmental Policy

by William J. Baumol , Wallace E. Oates

• ISBN13: 9780521322249
• ISBN10: 0521322243
• Edition: 2nd
• Format: Hardcover
• Copyright: 1988-02-26
• Publisher: Cambridge University Press

Summary

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.

Table of Contents

Preface to the second edition

Preface to the first edition

1. Introduction: economic and environmental policy

Part I. On The Theory of Externalities: 2. Relevance and the theory of externalities

3. Externalities: definition, significant types, and optimal-pricing conditions

4. Externalities: formal analysis

5. Uncertainty and the choice of policy instruments: price or quantity controls?

6. Market imperfections and the number of participants

7. Are competitive outputs with detrimental externalities necessarily excessive?

8. Detrimental externalities and nonconvexities in the production set

9. On optimal pricing of exhaustible resources

Part II. On The Design of Environmental Policy: 10. Introduction to Part II

11. Efficiency without optimality: the charges and standards approach

12. Marketable emission permits for protection of the environment

13. Stochastic influences, direct controls, and taxes

14. Taxes versus subsidies: a partial analysis

15. Environmental protection and the distribution of income

16. International environmental issues

17. national or local standards for environmental quality?

Index.