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picture1_Environmental Lectures Summary


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File: Environmental Lectures Summary
ECON 4910 Environmental Economics Summary of first five lectures Private and public goods/bads Two goods (or one good and one bad): eg= ()yor yf= ()e f ′ < 0if ...

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...Econ environmental economics summary of first five lectures private and public goods bads two or one good bad eg yor yf e f if is a consumers yy y ee eif preferences uy eis iii ii u ie de are convex i quasiconcave function efficient negotiations property rights income producer cost consumer social welfare ed maximizes achieved through no transaction costs other obstacles negotiated level pollution independent but matter for the distribution net benefits between in reality several free riding unstable conditions more on reduced form defined by ef max vq vg v where an input vector q associated price unconstrained maximization gives constrained fq kk fe same all k g since at optimum optimal hd aggregate h interior solution nn n equations effectiveness which also may be it follows from order envelope theorem that regulation types direct emissions b emission tax c tradable quotas d subsidies to abatement producers choices achieve regulator must know functions will generally vary across firm...

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