Microbehavioral Econometric Methods

Microbehavioral Econometric Methods

Theories, Models, and Applications for the Study of Environmental and Natural Resources

1st Edition - June 7, 2016

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  • Author: Niggol Seo
  • eBook ISBN: 9780128041567
  • Paperback ISBN: 9780128041369

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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.

Key Features

  • 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.

Table of Contents

    • About the Author
    • Preface
    • Chapter 1: Introduction to the Microbehavioral Econometric Methods for the Study of Environmental and Natural Resources
      • Abstract
    • Chapter 2: Modeling Microbehavioral Decisions: Economic Perspectives
      • Abstract
    • Chapter 3: Modeling Microbehavioral Decisions: Statistical Considerations
      • Abstract
      • 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
      • Abstract
      • 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
      • Abstract
      • 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
      • Abstract
      • 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
      • Abstract
      • 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
      • Abstract
    • Index

Product details

  • No. of pages: 326
  • Language: English
  • Copyright: © Academic Press 2016
  • Published: June 7, 2016
  • Imprint: Academic Press
  • eBook ISBN: 9780128041567
  • Paperback ISBN: 9780128041369

About the Author

Niggol Seo

Professor S. Niggol Seo is a natural resource economist who specializes in the study of global warming. He received his PhD in Environmental and Natural Resource Economics from Yale University in 2006 with a dissertation on microbehavioral models of global warming. Since 2003, he has worked with the World Bank on various climate change projects in Africa, Latin America, and Asia. He held professor positions in the United Kingdom, Spain, and Australia from 2006 to 2015. Since September 2015, he is Professor of Environmental & Natural Resource Economics at the Muaebak Institute of Global Warming Studies in Seoul, South Korea. Prof. Seo has published six books and over 50 international journal articles on the economics of global warming.

Affiliations and Expertise

Muaebak Institute of Global Warming Studies, Seoul, South Korea

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