Environment and Natural Resource Economics -Tietenberg, Chapter 5
Environmental and Natural Resources Economics is a common economics course offered by many business schools. It offers a valuable insight into the pressing externalities that forward thinking businesses need to account for as climate change continues to impact the environment. The course highlights models and assumptions focused on ensuring a sustainable allocation and solution for current and future generations.
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For those interested in the course or the reading materials I am working off, please check out Tom Tietenberg’s 9th edition Environmental and Natural Resources Economics textbook. I have provided a link to Amazon where you can buy the book;
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Thank you for these videos they are so helpful
dude thank you so much for making this video. I have spent so long messing around with this problem in excel. Appreciate you, thanks !
Thanks! I appreciate these videos 🙏🏾
super helpful thank you very much
Grateful 🙏
Amazing.
Really helpful video, made it easy to complete my environmental econ homework. But... at 23:44 you are calculating the MUC for periods 1 and 2, but for some reason you dont multiply the MUC for period 2 by 1+r. I am a bit confused by that.
This is very helpful, can we have a calculation with two different equations,different marginal costs and similar allocation of units for both periods.
bros a life saver
thanks alot
more chapter pleasee..
Thank you for this it was really helpful. I am actually confused in the following question if I am going to use 100 billion barrels as the quantity or not. please I would love it if you can explain. The Environmental Protection Agency has asked you to help evaluate a policy that would decrease the total amount of gas extracted and burned over the next 2 periods. The (made up) assumption is that in 2 decades, a clean-burning, cheap substitute will be developed and so oil demand will be zero after 2 decades. Therefore, you should think of oil use in a 2-period context (period 1 and period 2). Per periods demand for gas (in billions of barrels) is given by: Q(P)=100-5P Proven oil reserves, as of 2013 were 100 billion barrels (CIA World Factbook). Assume that marginal extraction costs are constant and equal to $70 per billion barrels. If the oil sector only thought about the first period, how much oil would it supply in period one? At what price? Would there be oil left for decade 2? What price would be charged in decade 2?
What software to draw the graph? Thanks
Excellent deduction, I just don't understand one thing. Why is the following logically true? The dynamically efficient allocation will satisfy the condition that the PV of the marginal net benefit from the last unit in P1 EQUALS the PV of the marginal net benefit from the last unit in P2.
❤️
From devid zetland
Didn't you forget human capital resource ?
like this comment if your in EWU