The Theory of Environmental Policy

William J. Baumol; Wallace E. Oates

doi:10.1017/CBO9781139173513

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.

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The Theory of Environmental Policy

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Contents

Frontmatter
pp i-iv

Contents
pp v-vi

Preface to the second edition
pp vii-viii

Preface to the first edition
pp ix-x

1 - Introduction: economics and environmental policy
pp 1-4

PART I - On the theory of externalities
pp 5-6

2 - Relevance and the theory of externalities
pp 7-13

3 - Externalities: definition, significant types, and optimal-pricing conditions
pp 14-35

4 - Externalities: formal analysis
pp 36-56

5 - Uncertainty and the choice of policy instruments: price or quantity controls?
pp 57-78

6 - Market imperfections and the number of participants
pp 79-90

7 - Are competitive outputs with detrimental externalities necessarily excessive?
pp 91-109

8 - Detrimental externalities and nonconvexities in the production set
pp 110-137

9 - On optimal pricing of exhaustible resources
pp 138-152

PART II - On the design of environmental policy
pp 153-154

10 - Introduction to Part II
pp 155-158

11 - Efficiency without optimality: the charges and standards approach
pp 159-176

12 - Marketable emission permits for protection of the environment
pp 177-189

13 - Stochastic influences, direct controls, and taxes
pp 190-210

14 - Taxes versus subsidies: a partial analysis
pp 211-234

15 - Environmental protection and the distribution of income
pp 235-256

16 - International environmental issues
pp 257-283

17 - National or local standards for environmental quality?
pp 284-296

Index
pp 297-299

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The Theory of Environmental Policy

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