The Environment and Externality - Softcover

Yang, Zili

Softcover

ISBN 10: 1108708307 ISBN 13: 9781108708302

Publisher: Cambridge University Press, 2020

Synopsis

This innovative book models pollution mitigation as a negative externality whilst also providing desirable and useful solutions, such as establishing the triangular equivalence relationship among the Lindahl equilibrium without transfers, the Nash bargaining solution with the payoffs of the Cournot-Nash equilibrium as the status quo point, and the social optimum under the Lindahl weights. By introducing programming algorithms to validate these relationships numerically, Zili Yang bridges the gap between analytical results and empirical modelling, ultimately solving the Lindahl equilibrium and hybrid Nash equilibria in the influential RICE model. This text demonstrates the complexity and variety of environment externality problems, ranging from mixed externality to correlated externalities to environmental externality under IRS and policy applications. Integrating theory, algorithms and applications in a comprehensive framework, The Environment and Externality will benefit scholars and students working across environmental, resource and climate change economics.

About this title

About the Author

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).

Edition details

• Publisher: Cambridge University Press
• Publication date: 2020
• Language: English
• ISBN 10: 1108708307
• ISBN 13: 9781108708302
• Binding: Paperback
• Number of pages: 312