Reading List

A "*" denotes required reading.

Reference books:

Introduction

Basic Theory

* Kolstad, Chapters 3-5.


Valuation of Environmental Benefits and Damages

Reading

* Heal, Geoffrey (2002). "Valuing ecosystem services" in B. Kristrom, P. Dasgupta, K-G. Lofgren (Eds.) Economic Theory for the Environment: Essays in Honour of Karl-Goran Maler, Cheltenham: Edward Elgar.

* Kolstad, Chapters 8-10.

Jason F. Shogren, Seung Y. Shin, Dermot J. Hayes, James B. Kliebenstein (1994). "Resolving Differences in Willingness to Pay and Willingness to Accept." American Economic Review 84(1): 255-70.

Tuncel, Tuba, and James K. Hammit (2014). "A new meta-analysis on the WTP/WTA disparity". Journal of Environmental Economics and Management 68: 175-187.


* Bhattacharya, S., Alberini, A. and M. Cropper (2007). "The value of mortality risk reductions in Delhi, India." Journal of Risk and Uncertainty 34(1): 21-47.

Griffin, C. et. al. (1995). Contingent Valuation and Actual Behavior: Predicting Connections to New Water Systems in the State of Kerala, India World Bank Economic Review 9(3): 373-395.

Bockstael, Nancy E., and Kenneth E. McConnell (2007). Environmental and Resource Valuation with Revealed Preferences. Sections 6.1, 6.2, 7.1, 7.2.






Policy Instruments for Pollution Control.

Choice of instruments for regulation of pollution under certainty and uncertainty. Quotas, emissions charges or taxes, subsidies for abatement, tradeable permits. Informational strategies.

Reading

 Kolstad, Chapters 11-12.

* Sterner and Coria, Chapters 4, 5, Chapter 6 upto page 85, Chapter 12, Chapter 13 pages 227-229.

* Martin L. Weitzman (1974). "Prices vs. Quantitites." Review of Economic Studies, 41(4): 477-91.

A. Mitchell Polinsky (1979). Notes on the Symmetry of Taxes and Subsidies in Pollution Control The Canadian Journal of Economics, 12(1): 75-83.

Denicolo, V. (1999): “Pollution-reducing innovations under taxes or permits,” Oxford Economic Papers, 51, 184–199.

Ashokankur Datta and E. Somanathan (2016). “Climate Policy and Innovation in the Absence of Commitment.” Journal of the Association of Environmental and Resource Economists (2016). 3(4):917-955.


Burden of Disease attributable to Major Air Pollution Sources in India.





Renewable Resources

Renewable resource extraction in a dynamic setting under open access and private ownership. Conditions for the optimality of extinction from the perspective of a single owner. Common property, an intermediate case. The likelihood of extinction: further considerations (terrestrial species, storability of the harvest).

Reading

N.S. Jodha (1990). "Rural Common Property Resources: Contributions and Crisis." Economic and Political Weekly, June 30, 1990.

* Rajiv Sethi and E. Somanathan (1996). "The Evolution of Social Norms in Common Property Resource Use." American Economic Review, 86(4): 766-88.

* Hanley, Shogren, and White, pp. 179-181 (Sections 7.2.1 and 7.2.2 on Hotelling's rule).

* Colin W. Clark (1976). Mathematical Bioeconomics Section 2.9.

Tierney, John (2000). "A tale of two fisheries." New York Times Magazine.





Climate Change

Reading

Staniford, Stuart (2010). "Odds of cooking the grandkids."


Sterner, T. and U. M. Persson (2008). "An Even Sterner Review: Introducing Relative Prices into the Discounting Debate." Review of Environmental Economics and Policy 2(1): 61-76.

* Weitzman, Martin L. (2007). "A review of "The Stern Review on the Economics of Climate Change"." Journal of Economic Literature. Pages 718 to 724. Skim the rest of the article.


* Foley, Duncan (2007). "The Economic Fundamentals of Global Warming"." Santa Fe Institute Working Paper 07-12-044.


Institutions