Economic models of natural resource extraction and externalities are introduced and developed. Traditional regulatory responses to correct environment externalities are reviewed, and recent market-based regulations such as tradable permits are discussed in detail. Topics include: common property resources; the role of asymmetric information in formulating environmental policy; contingent valuation and travel cost models of valuing non traded resources; and the economics of species diversity.
Continuing Education Units (CEU) :
Continuing Education Units (CEU) :