The Theory of Environmental Policy

In this book, Professors Baumol and Oates provide a rigorous and comprehensive analysis of the economic theory of environmental policy.

William J. Baumol (Author), Wallace E. Oates (Author)

9780521311120, Cambridge University Press

Paperback, published 26 February 1988

312 pages
22.9 x 15 x 1.8 cm, 0.418 kg

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 influencing 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 environmental economics.

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.

Subject Areas: Environmental economics [KCN]