Environmental Economics

21 Pages Posted: 5 Nov 2007 Last revised: 18 Jun 2014

See all articles by Robert N. Stavins

Robert N. Stavins

Harvard University - Harvard Kennedy School (HKS); Resources for the Future; National Bureau of Economic Research (NBER)

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Date Written: November 2007

Abstract

This article provides an overview of the economics of environmental policy, including the setting of goals and targets, notably the Kaldor-Hicks criterion and the related method of assessment known as benefit-cost analysis. Also reviewed are the means of environmental policy, that is, the choice of specific policy instruments, featuring an examination of potential criteria for assessing alternative instruments, with focus on cost-effectiveness. The theoretical foundations and experiential highlights of individual instruments are reviewed, including conventional command-and-control mechanisms and market-based instruments.

Suggested Citation

Stavins, Robert N., Environmental Economics (November 2007). NBER Working Paper No. w13574. Available at SSRN: https://ssrn.com/abstract=1027193

Robert N. Stavins (Contact Author)

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