Summary

The journal discusses how the behavior of corporation and people effect the environment. But with the passage of time concept about environmental economics changes and many authors get noble price for changing these concepts. Profits concept of business moved to measuring the consumer insight and planet saving. In Western Washington University many scholars gathered and point out there concept about environmental behavior so that general perspective from current research should be obtained. While utilization the main factor includes fairness and consumer sovereignty will be counted. Fairness is the fact of life. The concept of fairness is not included in different models of economics because it contains too much ambiguity but Johansson Stenman and Konow disagree and said that if fairness should included in models they create relevance with model and show sincerity toward environment. The basic elements of distributive preference are accountability, efficiency, need and equality. Equality refers to moral value e.g. every person would have the equal rights and if any of them behave unfairly should be accountable and system should be efficient Accountability: if some one is polluted the environment he should have to pay the same amount because of his misbehavior. Efficiency should be increase by giving punishment to all those who try to harm environment. Firms and Governments do not behave positively toward environment but there constituents and employees take one step toward it. Carlsson environmental behavior describes under four variables are incoherent preference, learning and constructed preference, context dependence and hypothetical bias. Carlsson show the interrelationship between these variables. The understanding of behavior economics should be improved by preference method. Reveled preference should b from choices but normative choice will be the actual one. From a long period of learning stable preference about any market survey emerge. Carlsson finding are based on literature. Divergent Behavior of lab and real world are compared and then finds that it is very difficult to find hypothetical bias because other factors are also included in preference. Knetsch was the first scientist who explains the values of gain and loss and discuss environmental valuation. Knetsch started the concept of gain and loss from 1974 to duck hunters

in their valuation of gain versus losses of breeding habits. The choice of value is not simple. Asheim . rather the reference state may depend on the psychological preference. Hepburn. and demonstrate that the discounting model is fishery with minimum viable population. Knetsch ignores the concept of cost benefits analysis of natural resource damage. In which he conclude hyperbolic discounting may account for some human and animal behavior. Duncan and papachristodoulou are the creator of exponential discounted utility model. Knetsch describe counterexample if some merchant have some inventory or good he does not think of decreasing their prices.

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