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These notes from nikishna myron's econ 462 class cover pacific biodiversity assessments and incentive-based environmental controls. Topics include the clean water act, tndl procedure, point source incentive-based controls, tradable emission permits, and cost effectiveness. The document also includes several graphs and homework questions.
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Nikishna Myron 10/17/ ECON 462 Notes 5. Pacific Biodiversity Assessments – Conservation Geography Ben’s Reading for REM 515 Control and Command Incentive based controls E.g. Europe will be implementing regulations of 30-45 thousand products Assume the worst o Until non-negative outcomes are proven Under the Clean Water Act If a river doesn’t meet standards o TNDL Procedure o Propose Mitigation measures o Wilson Creek Fecal Chloroform Standards for Non-Point Source pollution Point Source Incentive-Based Control Taxes o Subsides Negative Taxes o Hard to Implement Harder to Enforce o Marginally Profitable Businesses will go out of business Creates Monopolies or Cartels o Cost Minimizing in gross Yet not in terms of impacts to the people Tradable Emission Permits (Marketable Permits) o Charge for use and capacity [Graph] Supply Curve for Abatement [Graph] Unit Tax Abatement Chart
Homework Questions online tonight (print out) [Graph] New Abatement Technologies [Graph] Redraw of Cost Effectiveness Tradable Permits [Graph] Firm 2 will buy permits from Firm 1 Like Coase Theorem o Pay someone else to abate for me One saves money One makes money