1.1. What is Environmental Economics? Environmental economics is a subfield of economics that deals with the economic impact of environmental policies and the economic aspects of environmental degradation.
4.2. Contingent Valuation Contingent valuation involves asking people how much they are willing to pay for environmental goods and services. Environmental Economics An Introduction 8th Edition Pdf
3.2. Market-Based Instruments Market-based instruments, such as taxes and cap-and-trade systems, use market forces to encourage environmental protection. such as taxes and cap-and-trade systems
1.3. The Role of Government in Environmental Protection The government plays an important role in environmental protection by setting regulations, providing information and education, and using market-based instruments. providing information and education
2.3. Public Goods Environmental resources, such as clean air and water, are often public goods that are not provided by the market.