Theory and Measurement of Economic Externalities
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Theory and Measurement of Economic Externalities

1st Edition - January 28, 1976

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  • Editor: Steven A. Y. Lin
  • eBook ISBN: 9781483271477

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Description

Theory and Measurement of Economic Externalities provides information on some analytical and empirical developments in the field of externalities. This book presents the function of turning out producer's goods in the form of better knowledge, analytical formulation, and approaches for application to current problems. Organized into five parts encompassing 12 chapters, this book begins with an overview of the notion of externalities in connection with analyses of economic welfare. This text then discusses the relationship between publicness and external diseconomies when either consumption or production or decision sets are nonconvex due to a high degree of externalities. Other chapters consider disproving the pessimistic conclusions concerning tax–subsidy schemes. This book discusses as well the solutions for the allocation of resources in an economy with public goods and interdependent preferences. The final chapter deals with a general framework for estimating externality production functions. This book is a valuable resource for economists.

Table of Contents


  • List of Contributors

    Preface

    Part I Introduction

    Part II The Nature of Externalities

    On the Nature of Externalities

    I. Introduction

    II. Externality as Absence of Markets

    III. Publicness of External Diseconomies

    IV. Exclusion at a Cost

    V. Pecuniary Externalities

    VI. The Definition of Externalities

    VII. Remedies

    References

    Discussion

    I. What Are Externalities?

    II. Some Theoretical Observations

    III. A Discussion of Remedies

    IV. Conclusion

    References

    The Problem of Social Cost: Fifteen Years Later

    I. Introduction

    II. The Coase Theorem

    III. Transactions Costs and the Definition of Externality

    IV. Optimal Liability

    V. Transactions Costs and the Incidence of Liability

    References

    Discussion

    References

    Part III Externalities in Collective and Decentralized Decision Making

    Externality Taxes and Subsidies

    I. The Model

    II. An Optimal Tax-Subsidy Algorithm

    III. Theorems on Taxes and Subsidies

    IV. Conclusions

    References

    Discussion

    References

    Information, Incentives, and the Internalization of Production Externalities

    I. Introduction

    II. The Coordination of External Decisions of Many Firms

    III. A General Solution of the Coordination Problem

    Appendix: On the Uniqueness of the Truthful Message Equilibrium

    References

    Discussion

    Reference

    A Generalized Cost Allocation Scheme

    I. Decomposition of a Game

    II. Generalized Value of a Game

    III. Definition of Weights

    IV. Incremental Values

    V. Value, Imputations, and the Core

    VI. A Cost Allocation Example

    VII. Conclusions

    References

    Discussion

    Part IV Externalities in General Equilibrium

    Collective Choice and the Lindahl Allocation Method

    Introduction

    I.

    II. The Existence of Lindahl Equilibrium

    III. Special Lindahl Equilibria

    IV.

    V.

    VI. Conclusion

    References

    Discussion

    References

    Pairwise Optimality, Multilateral Optimality, and Efficiency with and without Externalities

    I. Introduction

    II. The General Equivalence Theorem for Exchange with Externalities

    III. Production-Exchange Economics

    IV. Interindustry Production

    V. An Example of Nonequivalence

    VI. Pareto Optimality for Societies with Bilateral Externalities

    VII. Pareto Optimality with Multilateral Externalities

    References

    Discussion

    Noncooperative General Exchange

    I. Background

    II. A New Approach with Applications to Externalities

    III. The Basic Model

    IV. The Edgeworth Box

    V. Variants

    VI. Two Theorems

    References

    Discussion

    Part V Measurements of Externalities

    The Measurement of Individual Congestion Costs: An Economic Application to Wilderness Recreation

    I. Introduction

    II. A Generalized Model for the Measurement of Congestion Effects

    III. Experimental Design and Sampling

    IV. Estimated Willingness to Pay Functions

    V. Conclusions

    References

    Discussion

    An Economic Model of Airport Noise Pollution in an Urban Environment

    I. Scaling Individual Reaction to Noise

    II. The Demand for Housing and the Implicit Demand for Quiet

    III. Equilibrium in the Housing Market

    IV. The Empirical Model

    References

    Discussion

    Fiscal Externalities, Taxes, and Suburbanization

    I. Introduction

    II. An Urban Model with Property Taxes

    III. Empirical Results

    IV. Conclusion

    Appendix: Notation

    References

    Discussion

    References

    Externality Production Functions

    I. The Theory of Externalities in Production

    II. Framework for Estimation of Externality Production Function Specification of the Generalized Joint Production Model for Empirical Estimation

    References

    Discussion

    Index

Product details

  • No. of pages: 280
  • Language: English
  • Copyright: © Academic Press 1976
  • Published: January 28, 1976
  • Imprint: Academic Press
  • eBook ISBN: 9781483271477

About the Editor

Steven A. Y. Lin

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