CHAPTER2

NORMATIVE AND POSITIVE

ECONOMIC ANALYSIS

ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.
 FIGURE 2.1 Value of activities versus climate. (Adapted from Mendelsohn et al., 1994.)

ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.
 FIGURE 2.2 Annual damages from average global temperature increase. (Source: Nordhaus, 2008.)

ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.
 FIGURE 2.3 Marginal cost of emissions abatement. (Source: Nordhaus, 2008.)10

ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.
 FIGURE 2.4 Optimal emission control. (Source: Nordhaus, 2008.)

ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.