Social Welfare and Optimal Depletion
Author: Ronald Henry Schmidt
Publisher:
Published: 1983
Total Pages: 230
ISBN-13:
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Optimal Depletion of an Exhaustible Resource
Author: Suresh Sethi
Publisher:
Published: 2019
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKThis paper considers an optimal control problem for the dynamics of an exhaustible natural resource model, the optimal control being the price over time to maximize the total present value of a parameterized social welfare function under the assumption that a substitute become available at a high enough price. Thus, the problem can be reinterpreted as one of the optimal phasing-in of an expensive substitute. Furthermore, the problem is constrained in the sense that the total consumption of the natural resource implied by a price trajectory via the assumed demand function must not exceed the available reserves. The problem is solved, using the maximum principle, for a complete range of the parameter reflecting the weights assigned to the consumer's surplus and the producer's surplus in the social welfare function. The results and algorithms obtained in the paper are illustrated by an example.
Intratemporal Welfare and the Optimal Depletion of Exhaustible Resources
Author: Ronald H. Schmidt
Publisher:
Published: 1983
Total Pages: 20
ISBN-13:
DOWNLOAD EBOOKEconomic Efficiency and Social Welfare (Routledge Revivals)
Author: E. J. Mishan
Publisher: Routledge
Published: 2013-05-13
Total Pages: 684
ISBN-13: 1136629548
DOWNLOAD EBOOKFirst published in 1981, Professor Mishan’s Economic Efficiency and Social Welfare: Selected Essays on Fundamental Aspects of the Economic Theory of Social Welfare is a collection of 22 pioneering essays written while the author was teaching at the London School of Economics and chosen to indicate landmarks in the development of his own thought. Professor Mishan, who also enjoys an international reputation as a popular writer on the impact of modern economic growth on social welfare, is among the foremost authorities in the field of resource allocation, and his influence in his subject area has been profound. Mishan’s essays, while generally accessible to the layman due to the author’s lucidity, his economy in the use of mathematical notation and his concern with perspective, are invaluable reading for the economics undergraduate. The essays are particularly relevant to upper level students of project appraisal, welfare economics and cost benefit analysis requiring a coherent survey of their field of study.
A Theory of Fairness and Social Welfare
Author: Marc Fleurbaey
Publisher: Cambridge University Press
Published: 2011-06-13
Total Pages: 315
ISBN-13: 1139498770
DOWNLOAD EBOOKThe definition and measurement of social welfare have been a vexed issue for the past century. This book makes a constructive, easily applicable proposal and suggests how to evaluate the economic situation of a society in a way that gives priority to the worse-off and that respects each individual's preferences over his or her own consumption, work, leisure and so on. This approach resonates with the current concern to go 'beyond the GDP' in the measurement of social progress. Compared to technical studies in welfare economics, this book emphasizes constructive results rather than paradoxes and impossibilities, and shows how one can start from basic principles of efficiency and fairness and end up with concrete evaluations of policies. Compared to more philosophical treatments of social justice, this book is more precise about the definition of social welfare and reaches conclusions about concrete policies and institutions only after a rigorous derivation from clearly stated principles.
WELFARE ECONOMICS AND SUSTAINABLE DEVELOPMENT – Volume I
Author: Yew-Kwang Ng
Publisher: EOLSS Publications
Published: 2009-11-17
Total Pages: 348
ISBN-13: 1848260091
DOWNLOAD EBOOKWelfare Economics and Sustainable Development theme is a component of Encyclopedia of Development and Economic Sciences in the global Encyclopedia of Life Support Systems (EOLSS), which is an integrated compendium of twenty one Encyclopedias. This theme introduces welfare economics and sustainable development in four topics dealing with four important issues to be considered in implementing sustainable development. These are: the use of ethics and discounting and economic growth models in balancing the interests of future generations against those of the present; the advantages and limitations of national accounting methodologies as means of evaluating sustainability; the international dimensions of sustainable development arising out of environmental and economic linkages among nations; and the nature of institutions required to promote sustainable development. These two volumes are aimed at the following five major target audiences: University and College students Educators, Professional practitioners, Research personnel and Policy analysts, managers, and decision makers and NGOs.
Resource and Environmental Economics
Author: Anthony C. Fisher
Publisher: Cambridge University Press
Published: 1981-11-30
Total Pages: 308
ISBN-13: 9780521243063
DOWNLOAD EBOOKThis book presents the major themes of the economic literature on natural resources and the environment. It is designed to bring the reader, in part with the aid of a unified model of optimal resource use, to the frontiers of the discipline, using only elementary mathematical models. Features special to exhaustible and renewable resources, including the problems posed by market imperfections, are treated as extensions of the basic model. The theoretical discussion is enriched with examples and applications, including a systematic investigation of the behaviour of resource reserves, costs, prices, and substitution possibilities. Substantial attention to environmental, as well as extractive, resources is a distinctive aspect of this book. The author describes methods of estimating the environmental costs of resource development and other projects, and presents some key empirical findings. Policy instruments to protect the environment, such as taxes, subsidies, marketable permits, and direct controls, are carefully analysed from a welfare-theoretic point of view.
The Welfare Economics of Alternative Renewable Resource Strategies
Author: Robert N. Stavins
Publisher: Routledge
Published: 2017-10-18
Total Pages: 307
ISBN-13: 1351621173
DOWNLOAD EBOOKThis study, originally published in 1990, seeks to address several important policy questions associated with the ongoing depletion of forested wetlands. First, in the context of Environmental Impact Statements, should the estimated areas of impact of Federal flood-control and drainage projects on wetlands be limited to (minimal) construction impacts, or should they include impacts which occur when such projects cause private landowners to drain and clear their wetland holdings? A second crucial question is whether wetland depletion and conversion to agricultural cropland has been excessive. This title will be of interest to students of Environmental Economics and Policy.
The Economics Of Environmental And Natural Resources Policy
Author: J. A. Butlin
Publisher: Routledge
Published: 2019-09-06
Total Pages: 206
ISBN-13: 1000316181
DOWNLOAD EBOOKThe purpose of this collection of readings is to aid the student taking a course in environmental economics to place the issues in perspective. The text is designed for an undergraduate audience, and those readings that have appeared elsewhere have, with the permission of the holders of the copyright, been suitably abridged for this purpose. The book is designed to be used in conjunction with a conventional text on environmental economics or as an adjunct to a comprehensive series of lectures in environmental and natural resource economics.
Wealth, Welfare and Sustainability
Author: K. Hamilton
Publisher: Edward Elgar Publishing
Published: 2006
Total Pages: 215
ISBN-13: 1847202977
DOWNLOAD EBOOKThis important book presents fresh thinking and new results on the measurement of sustainable development. Economic theory suggests that there should be a link between future wellbeing and current wealth. This book explores this linkage under a variety of headings: population growth, technological change, deforestation and natural resource trade. While the relevant theory is presented briefly, the chief emphasis is on empirical measurement of the change in real wealth: this measure of net or genuine saving is a key indicator of sustainable development. The methodological and empirical work is bolstered by tests of the predictive power of genuine saving in explaining future consumption and economic growth. Just as importantly, the authors show that many resource-abundant countries would be considerably wealthier today had they managed to save and invest the profits from natural resource exploitation in the past. Wealth, Welfare and Sustainability will be of great interest to environmental and resource economists, specialists in sustainability indicators from other disciplines and also development and growth economists.
