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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.
List of Contributors
Part I Introduction
Part II The Nature of Externalities
On the Nature of Externalities
II. Externality as Absence of Markets
III. Publicness of External Diseconomies
IV. Exclusion at a Cost
V. Pecuniary Externalities
VI. The Definition of Externalities
I. What Are Externalities?
II. Some Theoretical Observations
III. A Discussion of Remedies
The Problem of Social Cost: Fifteen Years Later
II. The Coase Theorem
III. Transactions Costs and the Definition of Externality
IV. Optimal Liability
V. Transactions Costs and the Incidence of Liability
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
Information, Incentives, and the Internalization of Production Externalities
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
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
Part IV Externalities in General Equilibrium
Collective Choice and the Lindahl Allocation Method
II. The Existence of Lindahl Equilibrium
III. Special Lindahl Equilibria
Pairwise Optimality, Multilateral Optimality, and Efficiency with and without Externalities
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
Noncooperative General Exchange
II. A New Approach with Applications to Externalities
III. The Basic Model
IV. The Edgeworth Box
VI. Two Theorems
Part V Measurements of Externalities
The Measurement of Individual Congestion Costs: An Economic Application to Wilderness Recreation
II. A Generalized Model for the Measurement of Congestion Effects
III. Experimental Design and Sampling
IV. Estimated Willingness to Pay Functions
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
Fiscal Externalities, Taxes, and Suburbanization
II. An Urban Model with Property Taxes
III. Empirical Results
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
- No. of pages:
- © Academic Press 1976
- 28th January 1976
- Academic Press
- eBook ISBN:
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