Economics of the Environment: Theory and Policy by Prof. Dr. Horst Siebert (auth.)

By Prof. Dr. Horst Siebert (auth.)

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3-6 the isoquants indicate the possibilities for substitution between the inputs R j and Sj. Although in this approach one does not explicitly consider abatement activities, it has the advantage of lending itself to traditional production theory. For instance, once a price for pollutants is introduced, traditional microeconomic results can be reinterpreted with respect to environmental problems. 1) a2 u a2 u aQ2 aQI aQ~ The Hessian matrix is negative definite if IH21 = IHI >0. IHtl = a2 UlaQr < 0 and if In order to analyze the concavity of the transformation space, I assume, for simplicity, that only one abatement activity exists.

For a more detailed interpretation of Eq. 7, compare Siebert et al. 24). At zero production in both sectors, the maximum environmental quality (OA in Fig. 3-3) is reached, that is, the original natural condition. Let Q2 = 0 and expand the production of commodity 1. Then one can imagine a resource allocation (R j , R 3) such that all pollutants occurring in the production of commodity 1 are abated (distance AG in Fig. 3-3). Analogously, AH indicates those production quantities of commodity 2, when Qj = 0, at which the environmental quality remains maximal.

The determination of this assimilative capacity (in a river system, for example, the current speed, percentage of oxygen, temperature, and quantity of pollutants) and its temporal variation can be influenced by resource inputs (for example, in-stream aeration of a river system and afforestation). This purification of media (for example, water management) could be introduced into the model by an abatement function which is not specific to a sector (for example, the purification function of a water cooperative).

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