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  • Series: New Horizons in Environmental Economics series x
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Michael Finus

The book investigates various strategies to provide countries with an incentive to accede, agree and comply to an international environmental agreement (IEA). Finus shows that by integrating real world restrictions into a model, game theory is a powerful tool for explaining the divergence between ‘first-best’ policy recommendations and ‘second-best’ designs of actual IEAs. For instance he explains why (inefficient) uniform emission reduction quotas have played such a prominent role in past IEAs despite economists’ recommendations for the use of (efficient) market-based instruments as for example emission targets and permits. Moreover, it is stated, that a single, global IEA on climate is not necessarily the best strategy and small coalitions may enjoy a higher stability and may achieve more.
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Shunsuke Managi and Shinji Kaneko

Over the past two decades, China has become an economic powerhouse. However, as the world’s largest producer of CO2 emissions, the scale and seriousness of China’s environmental problems are clearly evident. This pioneering book provides an economic analysis of the significant environmental and energy problems facing China in the 21st century.
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The Impact of Climate Change on Regional Systems

A Comprehensive Analysis of California

Edited by Joel B. Smith and Robert Mendelsohn

Models are used to estimate potential physical and biological impacts, efficient adaptations, and residual damages from climate change. The contributors cover a broad array of climate change impacts on affected market sectors (including water supply, agriculture, coastal resources, timber, and energy demand) as well as ecosystems and biodiversity. An integrated hydrologic-agriculture model is developed to explore how the region would adapt to changes in water flows. Interactions between climate impacts and population and economic growth, urbanization, and technological change are also explored. For example, the study examines how both climate change and projected land development affect the region’s terrestrial ecosystems and biodiversity.
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Uncertainty and the Environment

Implications for Decision Making and Environmental Policy

Richard Young

This thought provoking book is concerned with the need to deal adequately with uncertainty in environmental decision making. The author advances a critique of the use of traditional models and then develops an alternative model of decision making under uncertainty, based on the work of George Shackle.
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Edited by Fred J. Hitzhusen

The book applies benefit–cost analysis and a wide array of non-market and distribution economic valuation methods in ecologic context to determine the pay-off and distribution impacts of various infrastructure and water quality improvements to eight river systems in the Great Lakes region of the US. The generally positive results have important implications for public policy and future research.
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Markets for Carbon and Power Pricing in Europe

Theoretical Issues and Empirical Analyses

Edited by Francesco Gullì

Why do power prices seem to be correlated with the carbon price in some markets and not in others? This crucial question is at the centre of Francesco Gullì’s enlightening book, through which the contributing authors investigate a number of related issues. In particular, they explore why power firms are not consistent in passing-through into power prices the opportunity cost of carbon. They also examine the relationship between the pass-through mechanism and the structure of the power market.
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The Evolution of Markets for Water

Theory and Practice in Australia

Edited by Jeff Bennett

This book presents a detailed picture of the evolutionary processes at work in water markets with a particular focus on theory and practice in Australia. Policymakers are striving to strike a balance between the pros and cons of a property rights/market based approach to the allocation of water resources, as opposed to an approach that centres on government regulation. The current movement in Australia is toward the use of markets, and numerous reforms are either underway or under consideration in that direction. This provides an ideal opportunity to observe the factors at play in determining the balance and hence the mix of policy instruments at work. The distinguished contributors offer a range of perspectives – economic, legal, environmental – and combine conceptual analysis with evidence from real policy decisions.
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Edited by Ekin Birol and Phoebe Koundouri

This innovative book is a compilation of state-of-the-art choice experiment studies undertaken in several European Union (EU) countries, including Finland, France, Greece, Ireland, Italy, Poland, Spain and the United Kingdom. The case studies presented concern a variety of environmental, agricultural and natural resource issues – such as the management of water resources, forests and agricultural landscapes; conservation of biodiversity and cultural heritage; noise pollution reduction and food labeling. The book highlights how the choice experiment method can be employed to inform efficient and effective design and implementation of various EU level agricultural and environmental policies and directives, including the Common Agricultural Policy, Water Framework Directive, Forestry Strategy, Habitats Directive and food labeling systems.
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Technology, Natural Resources and Economic Growth

Improving the Environment for a Greener Future

Shunsuke Managi

Through a combination of global data analysis and focused country level analysis, this timely book provides answers to the most pertinent country and industry specific questions defining the current relationship between technology, natural resources and economic growth.
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P. B. Anand

P.B. Anand argues that if water supply and sanitation were mainly problems of technology or financial resources, they would have been resolved long ago. While appreciating that technology and finances are important, he ascertains that there are many other factors affecting our ability to intervene and improve the effectiveness of policies. The author explores these factors, raising questions such as ‘How is water scarcity defined?’, ‘Are there patterns that indicate how nations use available freshwater resources?’, ‘Does water shortage make nations use water more efficiently?’, and ‘What explains the variation in progress with regard to Millennium Development Goals related to water and sanitation?’.