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natural resource economics

Questions and Answers of Natural Resource Economics

2. The Doha Development Agenda, along with the Millennium Development Goals, represents one of most advanced program for the future of sustainable development for the whole planet. Analyze and
1. Consider a possible mechanism for controlling population. According to an idea first put forth by Kenneth Boulding (1964) each individual would be given the right to produce one (and only one!)
3. Is informing the consumer about any toxic substances used in the manufacture of a product sufficient to produce an efficient level of toxic substance use for that product? Why or why not?
2. Firms whose economic activity might pose an environmental risk are sometimes required to post performance bonds before the activity is allowed to commence. The amount of the required bond would be
1. E-waste management has been a reality for the last twenty years: a result of discarding new products like laptops, smartphones, tablets, and other similar goods. State some of the unique
3. Would the export of hazardous waste to developing countries be efficient?Sometimes? Always? Never? Would it be moral? Sometimes? Always? Never?Make clear the specific reasons for your judgments.
2. “Understanding the economics of site location requires consideration of the incentives facing both the owners of the proposed facility and the incentives of the recipient community.” Discuss
1. Why are hazardous-waste facilities generally unpopular with neighbors?Discuss the overall policy with examples.
2. Suppose you have three production facilities that are polluting a river. Each emits 10 units of pollution. Their marginal cost functions for reducing emissions are, respectively, MC1 = $3, MC2 =
2. Compared to air pollution, efforts to address water issues have been more inefficient, less dynamic, and they have evolved comparatively less in the last thirty years. How has water pollution been
1. Efforts to control water pollution have significantly changed over time—shifting from a single threatening factor to many. Discuss this evolution and illustrate the current approach. Provide
3.a. If a pay-as-you-drive insurance program is being implemented to cope with automobile related externalities associated with driving, what factors should be considered in setting the premium?b.
2. Suppose the nation wishes to reduce gasoline consumption not only to promote national security, but also to reduce the threats from climate change.a. How effective is a strategy relying on the
1. Mapping emissions pattern is particularly important to understand, while planning the best way to curb them. In this context, why is timing considered as crucial as location? Explain its impact,
2. What are the advantages and disadvantages of using an increase in the gasoline tax to move road transport decisions toward both efficiency and sustainability?
1. What is the main argument against ignoring mobile sources of emissions—like cars—which are small, independent, and therefore difficult to control?
5. In negotiations over a public good such a as greenhouse gas emission reduction, a cooperative agreement always produces higher aggregate benefits than a noncooperative agreement so cooperation
4. Suppose two countries with domestic cap-and-trade polices are considering linking their two systems. Country A has a cap of 20 tons of emissions, a domestic marginal cost of abatement of $10 and
3. Label the following as True, False, or Uncertain, and explain your choice.(Uncertain means that it can be either true or false depending upon the circumstances.)a. The imposition of a tax on
2. Elaborate the role of natural gas in the emission problems, and as a factor to be considered when studying curbing mechanisms.
1. Explain why a climate policy using emissions-charge revenue to provide capital and operating subsidies for carbon capture technologies is less costeffective than an emissions-charge policy alone.
1. Why is climate change considered to be a more complex problem to tackle than the Ozone layer depletion? Discuss, with examples, the factors to be considered while explaining the complexity
3. Suppose in an emissions trading system the permits are allocated free of charge to emitters on the basis of how much they have historically emitted. Can that allocation be consistent with
2. Traditionally, air pollution and emission control was dealt with the command-and-control approach. However, in most cases it has been neither efficient nor cost-effective. Why? Which alternative
1. The marginal control cost curves for two air pollutant sources affecting a single receptor are MC1 = $0.3q1 and MC2 = $0.5q2, where q1 and q2 are controlled emissions. Their respective transfer
2. At the 2012 UN Climate Change Conference in Doha, Qatar, governments tried to take the previous years’ international climate change negotiations forward. Among the many decisions adopted, they
1. The efficient regulation of hazardous pollutants should take exposure into account—the more persons exposed to a given pollutant concentration, the larger is the damage caused by it and
3. In a region that must reduce emissions, three polluters currently emit 30 units of emissions. The three firms have the following marginal abatement cost functions that describe how marginal costs
2. Assume that the control authority wanted to reach its objective in 1(a) by using an emissions charge system.a. What per-unit charge should be imposed?b. How much revenue would the control
1. Two firms can control emissions at the following marginal costs: MC1 =$200q1, MC2 = $100q2, where q1 and q2 are, respectively, the amount of emissions reduced by the first and second firms. Assume
1. In their article, “How do Economists Really Think about the Environment,” Professor R.N. Stavins, Director of the Harvard Project on Climate Agreements, and Don Fullerton, of the National
2. Suppose that a fishery has two sectors: (1) a commercial fishery that harvests fish to sell them to a processor, and (2) a recreational fishery where boat captains take individuals out to catch
1. What does the Reducing Emissions from Deforestation and Forest Degradation (REDD) programme, run by the United Nations, consist of?List its main features. Is it effective? Provide an example of
3. One approach to protecting ecosystem services involves dedicating specific habitat to wildlife (such as parks or reserves), a strategy that prohibits residential development in those areas. Other
2. One controversial issue for the environment is the impact of mining of rare minerals, both domestically and overseas. Some of the operations are in fact employing high-polluting agents, and in
1. A growing trend in energy economics is the investment from Asian NOCs(National Oil Companies) into Africa and Latin-America, for securing energy sources. This often creates environmental problems,
6. Suppose that a particular fishery experiences a technological change such that the fixed cost of fishing increases, but the marginal cost of fishing decreases.The change is such that the before
5.a. In the typical economic model of an efficient fishery, would a fall in the price of fish generally result in a larger or a smaller sustainable harvest?Why?b. Suppose the fishery allowed free
4. With reference to the biological model proposed by Schaefer, define a minimum viable population. Why is its computation important when assessing any biological or so-called interactive resource?
3. Territorial waters have a limit of 200 miles, and fishing rights belong exclusively to that country. Consider the case pertaining to China and Peru.Peru is increasingly selling its fishing rights
2. Assume that a local fisheries council imposes an enforceable quota of 100 tons of fish on a particular fishing ground for one year. Assume further that 100 tons per year is the efficient sustained
1. Assume that the relationship between the growth of a fish population and the population size can be expressed as g = 4P - 0.1P2, where g is the growth in tons and P is the size of the population
2. With discounting it is possible for the efficient fish population to fall below the level required to produce the maximum sustained yield. Does this violate the sustainability criterion? Why or
1. The maximum sustainable yield, i.e., the level where the catch is equal to the growth of the biomass, with population size remaining the same, is not synonymous with efficiency. Explain why not?
6. Why is it said that timber has some unique properties, making it a resource worth handling in a specific way?
5. Compare forest certification and the certification of organic produce in terms of the relative degree to which each type of certification could, by itself, be expected to produce an efficient
4. What does sustainability specifically mean in the context of forest harvesting?Is it any different from other resources?
3. As our energy structure transitions toward renewable fuels, forest-based biomass fuels benefit from this transition. What are the likely effects of this transition on consumers, producers, and the
2. In Table 11.1, when r = 0.02, the present value of the cost rises for 68 years and then subsequently declines. Why?
1. Suppose there are two identical forest plots except that one will be harvested and left to regrow while the second will be cleared after the harvest and turned into a housing development. In terms
2. In his book, The Federal Land Revisited, Marion Clawson proposed what he called the “pullback concept”:Under the pullback concept any person or group could apply, under applicable law, for a
1. What are the arguments in favour of and against the privatization of forests?Why are they usually publicly owned?
6. Land owners are often against preservation policies. Explain how transferable development rights (TDR) change this position, and encourage them toward a different use for their properties.
5. In the United States, the production of ethanol fuel from corn is subsidized.Use bid rent function analysis to suggest what effects this subsidy might be expected to have on land use.
4. Changing preferences can also affect changes in land use. In the United States, the proportion of the population in the 65-and-older age bracket is growing.What effects might this have on the
3. Suppose a state was trying to decide whether to fund primary and secondary education with either a property tax or an income tax. What implications might this choice have for land use in the state?
2. With respect to strategies used by land conservation groups to preserve land, conservation easements seem to be expanding more rapidly than buying land for preservation. In what respect might
1. Suppose a city finds that its express highways into the city are congested and it is considering two remedies: (1) imposing a congestion charge on all users of its expressways during the peak
1. Land pollution is increasingly posing a serious problem, both in Western countries and in the emerging economies. One recent case was noticed in China. According to some sources, more than eight
4. Water is an essential resource. For that reason moral considerations exert considerable pressure to assure that everyone has access to at least enough water to survive. Yet it appears that equity
3. One major concern about the future is that water scarcity will grow, particularly in arid regions where precipitation levels may be reduced by climate change.Will our institutions provide for an
2. When deciding on efficient allocation of water, is the typology of waterreserves a factor?
1. What implications does groundwater-pumping present, in terms of opportunity costs? Which factors aid in deciding how much water to retrieve? How is it calculated?
3. Suppose you come from a part of the world that is blessed with abundant water. Demand never comes close to the available amount. Should you be careful about the amount you use or should you simply
2. Consider your country’s situation. How is the price regime organized? Is it based on consumption as is the case in many countries, or do you pay a flat rate for the use? Do you believe this is
1. Examine the water supply system in your own country. Is the provider a public operator or a private company? Is it operating in a regime of monopoly or is there market competition?
4. How would consumers be affected, if the government forced them to bear the marginal disposal cost in a recycling initiative?
3. “As society’s cost of disposing of trash increases over time, recycling rates should automatically increase as well.” Discuss.
2. When the government allows private firms to extract minerals offshore or on public lands, two common means of sharing in the profits are bonus bidding and production royalties. The former awards
1. Suppose a product can be produced using virgin ore at a marginal cost given by MC1= 0.5q1 and with recycled materials at a marginal cost given by MC2 = 5 + 0.1q2. (a) If the inverse demand curve
3. What issues are taken into consideration, when choosing input factors between new raw materials and recycled ones? Enumerate some of them.Provide examples of their effect on the production mix of
2. Many areas have attempted to increase the amount of recycled waste lubricating oil by requiring service stations to serve as collection centers or by instituting deposit–refund systems. On what
1. In a recycling planning initiative, recyclable waste is divided into new scrap:residual materials generated during production, and old scrap: bulk of products discarded by consumer. Should the
8. Scarcity rent is often treated as a revenue source; reducing it often benefits consumers. Policy-makers use this rationale to curb energy prices. Provide a reason, apart from producer’s gains,
7. Often governments impose price ceilings, and other mechanisms of regulation, on energy sources. Are they positive or negative? Provide examples.
6. Label the following as true, false, or uncertain and explain your choice. (Uncertain means that it can be either true or false depending upon the circumstances.)a. All members of a resource cartel
5. What is the Hubbert’s Peak theory? How is the theory applicable to non-renewable energy sources?
4. Peaking plants, those that are only called into service during times of peak demand, are typically cheaper to build (compared to base-load plants), but that they have relatively high operating
3. Some time ago, a conflict between a paper company and a coalition of environmental groups arose over the potential use of a Maine river for hydroelectric power generation. As one aspect of its
2. Assume the demand and marginal cost conditions given in the second selftest exercise in Chapter 2. In addition, assume that the government imposes a price control at P = +80>3. (a) Find the
1. During a worldwide recession in 1983, the oil cartel began to lose market share.Why would a recession make the cartel more likely to lose market share?
3. Analyze the motivations behind establishing oil stockpiling: like the global strategic petroleum reserve. Is it an effective policy? What consequences will this have on oil prices?
2. Economist Abba Lerner once proposed a tariff on oil imports equal to 100 percent of the import price. This tariff is designed to reduce dependence on foreign sources as well as to discourage OPEC
1. Shale gas is one of the newest and most promising, yet controversial, extraction methods for oil and gas; its use is steadily increasing. Illustrate its pros and cons.
5. Consider the scenario of the transition from a depletable resource to a renewable energy source. Should the government intervene? Which considerations should guide this decision? Provide an
4. For the increasing marginal-extraction-cost model of the allocation of a depletable resource, how would the ultimate cumulative amount taken out of the ground be affected by (a) an increase in the
3. Many states are now imposing severance taxes on resources being extracted within their borders. In order to understand the effect of these on the allocation of the mineral over time, assume a
2. The profile of efficient allocation depends on the resource itself. It is known that if the resource can be extracted at a constant marginal cost, the efficient quantity of the depletable resource
1. To anticipate subsequent chapters where more complicated renewable resource models are introduced, consider a slight modification of the twoperiod depletable resource model. Suppose a biological
1. In terms of adequate market allocations, allocation being crucial in the long-run, dynamic efficiency becomes the core concept. How can the dynamic efficiency criterion be applied in the case of
5.a. Consider the effect of population growth on the allocation on the dynamic efficient allocation of a depletable resource across time. Suppose we have two versions of the two-period model,
4.a. Consider the general effect of the discount rate on the dynamic efficient allocation of a depletable resource across time. Suppose we have two versions of the two-period model discussed in this
3. Compare two versions of the two-period depletable resource model that differ only in the treatment of marginal extraction cost. Assume that in the second version, the constant marginal extraction
1. As seen in this chapter, the model of dynamic efficiency is obtained when present and future uses of a depletable resource are in balance—by maximizing present value of net benefits derived from
1. Environmental sustainability implies maintenance of physical flows—not just an aggregate value—of individual resources because current generations shouldn’t profit at the expense of future
3.a. Suppose that hedonic wage studies indicate a willingness to pay $50 per person for a reduction in the risk of a premature death from an environmental hazard of 1/100,000. If the exposed
2. The value of statistical life (VSL) is the willingness to pay for marginal changes in the probability of death, measured in terms of a marginal rate of substitution between mortality risk and
1. In Mark A. Cohen, “The Costs and Benefits of Oil Spill Prevention and Enforcement,” Journal of Environmental Economics and Management Vol. 13(June 1986), an attempt was made to quantify the
1. Deep ecology has been defined as one of the theories that attributes a value to the environment: distinct and independent from human interests. Discuss alternative values (see Debate 4.1) and
3. The benefit-cost analysis is frequently used to assess the desirability of efforts made to control pollution at a national level, with the implementation of government policies to curb emissions.

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