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- Arrow, K. J., et al.
(författare)
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Should Governments Use a Declining Discount Rate in Project Analysis?
- 2014
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Ingår i: Review of Environmental Economics and Policy. - : University of Chicago Press. - 1750-6816 .- 1750-6824. ; 8:2, s. 145-163
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Tidskriftsartikel (refereegranskat)abstract
- Should governments use a discount rate that declines over time when evaluating the future benefits and costs of public projects? The argument for using a declining discount rate (DDR) is simple: if the discount rates that will be applied in the future are uncertain but positively correlated, and if the analyst can assign probabilities to these discount rates, then the result will be a declining schedule of certainty-equivalent discount rates. There is a growing empirical literature that estimates models of long-term interest rates and uses them to forecast the DDR schedule. However, this literature has been criticized because it lacks a connection to the theory of project evaluation. In benefit-cost analysis, the net benefits of a project in year t (in consumption units) are discounted to the present at the rate at which society would trade consumption in year t for consumption in the present. With simplifying assumptions, this leads to the Ramsey discounting formula, which results in a declining certainty-equivalent discount rate if the rate of growth in consumption is uncertain and if shocks to consumption are correlated over time. We conclude that the arguments in favor of a DDR are compelling and thus merit serious consideration by regulatory agencies in the United States.
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- Asche, Frank, et al.
(författare)
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Aquaculture: Externalities and Policy Options
- 2022
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Ingår i: Review of Environmental Economics and Policy. - : University of Chicago Press. - 1750-6816 .- 1750-6824. ; 16:2, s. 282-305
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Forskningsöversikt (refereegranskat)abstract
- The future of aquaculture will depend critically on the extent of key externalities, how governance evolves to address these externalities, and the extent to which markets and other institutions provide incentives for technological innovation. Governance in this context refers to natural resource management and environmental regulation by governments as well as private sector initiatives and efforts by nongovernmental organizations that seek to influence consumer behavior, supply chain management, and production practices. Potential market failures in aquaculture include natural resource scarcities that stem from the problem of the commons and a number of environmental externalities. To consider appropriate policies and governance structures, we distinguish between externalities that are endogenous (determined within the sector) and externalities that are exogenous (determined outside the sector).
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- Carlsson, Fredrik, 1968, et al.
(författare)
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The Use of Green Nudges as an Environmental Policy Instrument
- 2021
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Ingår i: Review of Environmental Economics and Policy. - : University of Chicago Press. - 1750-6816 .- 1750-6824. ; 15:2, s. 216-237
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Tidskriftsartikel (refereegranskat)abstract
- This article discusses the use of green nudges—behavioral interventions aimed at reducing negative externalities—as an environmental policy instrument. We present a new framework for classifying nudges according to how they affect behavior. Pure nudges change the choice environment to guide behavior unobtrusively. Moral nudges trigger a psychological reaction to encourage behavior change. Our review of empirical studies reveals that green nudges, pure or moral, can have a significant impact on behavior and the environment but that the effects are highly context dependent. On the basis of both our review and basic welfare economics models, we discuss key factors for policy makers to consider when choosing between implementing a green nudge and implementing conventional policy instruments.
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- Carney Almroth, Bethanie, 1974, et al.
(författare)
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Marine Plastic Pollution: Sources, Impacts, and Policy Issues
- 2019
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Ingår i: Review of Environmental Economics and Policy. - : University of Chicago Press. - 1750-6816 .- 1750-6824. ; 13:2, s. 317-326
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Tidskriftsartikel (refereegranskat)abstract
- Plastics have been instrumental in providing access to clean drinking water, medical applications, and improved hygiene and food safety. However, plastics also cause problems. More than 10 million tons of plastic enter the oceans annually. Marine plastic pollution has documented impacts on marine organisms and ecosystem services. The use of chemical additives in plastics also poses a potential threat to human health. While desirable, recycling of plastics is currently constrained by material and chemical complexity, limitations in available technologies, and market demands. This article provides a brief introduction to plastic materials, marine plastic pollution, and its potential effects on marine ecosystems and human health. We also discuss some of the policy and technical issues and suggest priorities for further research.
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- Coria, Jessica, 1979
(författare)
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The Economics of Toxic Substance Control and the REACH Directive
- 2018
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Ingår i: Review of Environmental Economics and Policy. - : University of Chicago Press. - 1750-6824 .- 1750-6824 .- 1750-6816. ; 12:2, s. 342-358
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Tidskriftsartikel (refereegranskat)abstract
- The European Union regulation on the registration, evaluation, authorization, and restriction of chemicals — known as the REACH Directive— is intended to improve the protection of human health and the environment through the better and earlier identification of the intrinsic properties of the thousands of chemicals commonly used in the EU. This article presents an overview of the technical and economic challenges of toxic substance control and discusses how REACH has addressed the challenges of chemical regulation. The article identifies a number of barriers encountered in implementing REACH, including the fact that critical data concerning the toxicological properties of chemicals is missing from about 90 percent of the 184 REACH registration dossiers examined. The article also discusses how the information generated by REACH could be used to develop complementary policies -- such as risk-based taxation -- to better reflect the external effects of harmful chemicals and to provide further incentives for the development of products and processes that minimize the generation and use of hazardous substances. The article concludes by highlighting key insights and guidance for industry, policymakers, and academic researchers that can be derived from this examination of the economics of toxic substance control and REACH.
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| 7. |
- Damon, Maria, 1977, et al.
(författare)
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Grandfathering: Environmental Uses and Impacts
- 2019
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Ingår i: Review of Environmental Economics and Policy. - : University of Chicago Press. - 1750-6824 .- 1750-6824 .- 1750-6816. ; 13:1
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Tidskriftsartikel (refereegranskat)abstract
- “Grandfathering” grants preferential treatment to existing resource users over new entrants based on prior use. Grandfathering is based on the concept of first-in-time or prior appropriation and has been applied to a broad range of environmental and resource issues. We synthesize legal, economic, and political science perspectives and find that grandfathering removes incentives for users to anticipate regulations with proactive abatement. We analyze institutions ranging from long-enduring common-property regimes to climate negotiations to identify how grandfathering can be detrimental to sustainability, but we also show that it can be the only possible mechanism for bringing stakeholders to the table.
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