Cows are Better than Condos, or How Economists Help Solve Environmental Problems
AbstractThis essay explores three case studies that illustrate the exemplary use of economic analysis in environmental decision-making. These include: 1) the creation of a market in tradable grazing rights in the American West; 2) a cost analysis that facilitated a negotiated rulemaking at a power plant in Arizona; and 3) a conception of production-based pollution allowances that led to an agreement for regulating Intel microprocessor production plants. The paper argues that cost-benefit analysis may be less useful than other kinds of economic analysis that can guide and inform rather than judge and second-guess the outcome of negotiated and collaborative decision-making.
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Bibliographic InfoArticle provided by White Horse Press in its journal Environmental Values.
Volume (Year): 12 (2003)
Issue (Month): 4 (November)
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Web page: http://www.erica.demon.co.uk
Environmental policy; cost-benefit analysis;
Find related papers by JEL classification:
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
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