We characterize environmental quality as a stock, and its rate of deterioration as a flow. We consider a class of problems, which we call "SFQ" problems, in which both stocks and flows can be controlled to promote the quality of a resource stock. Abatement (curbing the flow) and restoration...

Intro -- About Island Press -- Foundations of Contemporary Environmental Studies -- Title Page -- Copyright -- Contents -- Preface -- Chapter 1: Introduction -- Chapter 2: Economic Efficiency and Environmental Protection -- Chapter 3: The Benefits and Costs of Environmental Protection -- Chapter...

This paper analyzes the choice of pollution control techniques by regulated firms, under three policy instruments: emissions standards, emissions taxes, and tradeable permit systems. In this model, heterogeneous firms choose from a menu of abatement techniques, which may include some that have...

The question of how to discount the distant future has long been at the core of climate economics. It has also divided economists. Some argue for prescriptivist approaches to discounting, often calling for social discount rates of as low as 1% per year. Others argue strongly for descriptivist...