1. The environment and externality – an overview; 2. Modeling pollution as an externality provision problem; 3. Analytical results – general equilibrium; 4. Analytical results – strategic provision; 5. Extensions; 6. Applications; Epilogue.
A comprehensive analysis of environmental externality, combining theory, algorithms, and applications to provide a unified and balanced framework.
Zili Yang is Professor of Economics at the State University of New York at Binghamton. He has collaborated with Professor William Nordhaus, winner of the 2018 Nobel Prize for Economics, on the development of the RICE model. He is the author of Strategic Bargaining and Cooperation in Greenhouse Gas Mitigations (The MIT Press, 2008).
'This exceptional book covers most facets of environmental
economics in an original manner, providing the theory, modelling
tools and algorithms behind them. It carefully describes the
applications of the theoretical framework to concrete situations
and environmental problems. This rigorous, practical, innovative
monograph provides a well-designed, unifying framework of
environmental externalities to enhance our understanding of
environmental issues.' Carlo Carraro, Università Ca' Foscari
'The Environment and Externality by Zili Yang will become an
essential text for instructors teaching graduate-level courses in
environmental economics. Yang does a masterful job of determining
the optimal level of externality in both static and dynamic models
under cooperative, non-cooperative, and coalitional solutions.
Lindahl taxes and emission and concentration caps are analyzed as
potential policies to achieve optimal externality.' Jon M. Conrad,
Cornell University
'Many times, after hearing my explanation of a model with
environmental externalities, a good student would ask - what are
the important assumptions and how do they matter? Professor Zili
Yang's new book empowers its readers with answers to these
questions and much more! It offers a clear analytical discussion of
the importance of environmental externalities, both static and
dynamic; explains the strengths and weakness of institutions
designed to address them; and provides the computational tools to
see why the assumptions matter. It should be an essential companion
to advanced courses in environmental economics.' V. Kerry Smith,
Arizona State University
'The important topics Yang discusses ought to be known and
understood by all scholars seeking to undertake advanced research
in environmental economics … Recommended.' A. A. Batabyal, Choice
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