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Microbehavioral Econometric Methods and Environmental Studies uses microeconometric methods to model the behavior of individuals, then demonstrates the modelling approaches in addressing policy needs. It links theory and methods with applications, and it incorporates data to connect individual choices and global environmental issues. This extension of traditional environmental economics presents modeling strategies and methodological techniques, then applies them to hands-on examples.Throughout the book, readers can access chapter summaries, problem sets, multiple household survey data with regard to agricultural and natural resources in Sub-Saharan Africa, South America, and India, and empirical results and solutions from the SAS software.
- Emphasizes ways that choices and outcomes are modelled simultaneously
- Illuminates relationships between micro decisions and global environmental systems
- Uses software and cases in analyzing environmental policy issues
- Links microeconomic models to applications in environmental economics and thereby connects individual choices with global environmental issues
Upper-division undergraduates, graduate students, and professionals worldwide working in econometrics and environmental economics.
- About the Author
- Chapter 1: Introduction to the Microbehavioral Econometric Methods for the Study of Environmental and Natural Resources
- Chapter 2: Modeling Microbehavioral Decisions: Economic Perspectives
- Chapter 3: Modeling Microbehavioral Decisions: Statistical Considerations
- 3.1. Binomial choice models
- 3.2. Selection bias problem
- 3.3. Multinomial logit models
- 3.4. Multinomial selection bias correction models
- 3.5. Mixed logit and simulation-based methods
- 3.6. Spatial econometric models
- 3.7. Modeling choices from panel data
- 3.8. Monte Carlo experiments of selection bias correction methods
- Chapter 4: Application of the Microbehavioral Econometric Methods to Microdecisions Under Global Warming
- 4.1. A Theory of the Microbehavioral Model of Agricultural Systems
- 4.2. Data and sources
- 4.3. Descriptive statistics of sample data
- 4.4. Applications of the microbehavioral econometric methods
- 4.5. Future climate simulations
- 4.6. Description of policy implications
- Chapter 5: Modeling Microbehavioral Decisions: Modeling the Whole System Versus the Subsystems
- 5.1. A theory of the Ricardian model for capturing adaptation behaviors
- 5.2. Data and descriptive statistics
- 5.3. Empirical results from the Ricardian analysis
- 5.4. Future climate simulations from the Ricardian model
- 5.5. Ricardian model versus the microbehavioral model
- 5.6. Additional insights and upshots
- Chapter 6: Modeling a Complex Structure in Microbehavioral Methods in Tandem With Changes in Global Ecosystems
- 6.1. Changes in natural systems caused by anthropogenic interventions
- 6.2. Natural resource enterprises across ecosystems of South America
- 6.3. A theory of the microbehavioral model of natural resource enterprises
- 6.4. Data, sources, and descriptive statistics
- 6.5. Empirical results from the microbehavioral model of natural resource enterprises
- 6.6. Future simulations with climate change scenarios
- 6.7. Further insights on structural complexity and ecosystem changes
- Chapter 7: Modeling Risk, Perceptions, and Uncertainties With Microbehavioral Methods
- 7.1. Measures of risk
- 7.2. Risk and return in the portfolio theory
- 7.3. Attitudes toward risk
- 7.4. Futures and options
- 7.5. Insurance and subsidy
- 7.6. Theory of a bubble and speculative asset prices
- 7.7. Prospect theory and psychology
- 7.8. Extreme events and fat-tailed distributions
- Chapter 8: Gleaning Insights From Microbehavioral Models on Environmental and Natural Resource Policies
- No. of pages:
- © Academic Press 2016
- 7th June 2016
- Academic Press
- Paperback ISBN:
- eBook ISBN:
S. Niggol Seo is a natural resource economist who has specialized in the study of global warming and globally-shared goods. He received a Ph.D. degree in Environmental and Natural Resource Economics from Yale University in May 2006 with a dissertation on microbehavioral models of global warming. While at Yale, he learned from Professors Robert Mendelsohn and William Nordhaus (Nobel Prize in 2018) on the economics of global warming. Since 2003, he has worked on various World Bank projects on climate change in Africa, Latin America, and Asia. He held professor positions in the UK, Spain, and Australia from 2006 to 2015. Professor Seo has published over a hundred (peer reviewed) articles on global warming economics, which include seven books. He has been on the editorial boards of the three journals: Food Policy, Climatic Change, and Applied Economic Perspectives and Policy. He received an Outstanding Applied Economic Perspectives and Policy Article Award from the Agricultural and Applied Economics Association (AAEA) in Pittsburgh in June 2011 for developing a microbehavioral economic model of adaptations to climate change.
Muaebak Institute of Global Warming Studies, Seoul, South Korea
"An inspiring read for environmental and econometrics courses...Bravo!" --Bin Chen, Beijing Normal University
"This book is an indispensable guide to modelling micro-behavioural decisions in environmental and natural resources management (ENRM). It is a rich with theoretical models, analytical methods and examples of empirical work on modelling micro-behaviours in agricultural and natural resource enterprises. I strongly recommend using this book for academic trainings in ENRM. Researchers and policymakers in ENRM will also find the text useful." --Amin Mugera, University of Western Australia
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