Environmental Economics
The cromulent economics blog
recent posts
Category: Teaching
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From the inbox: The International Review of Environmental and Resource Economics has published the following new issue. The articles in this issue are freely avaible until 20 February[*]. For other issues or for subscription information, please visit the journal webpage. Volume 17, Issue 4 - Special Issue Honoring Thomas H. Tietenberg Kathleen Segerson (2023), "Introduction:…
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From the WaPo (Olive oil prices reach record highs as Spain’s harvest is halved): Extreme heat, wildfires and drought have decimated much of the world’s olive oil harvest yet again, driving prices to a record high of $9,000 per metric ton. Most home cooks aren’t buying olive oil by the ton. But retail olive oil…
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The other day in my intro environmental and natural resource economics class we used the BDM method to elicit willingness to pay (WTP) values for an App State travel tumbler (I paid $26 with a faculty discount at the university bookstore). I explained the BDM with these slides [Download BDM] and each student had a…
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My go to classroom experiment has been Veconlab's supply and opportunity cost experiment for at least a decade (here is a 2016 post). Here is the abstract from Holt et al. (2010): This paper describes an individual choice experiment that can be used to teach students how to correctly account for opportunity costs in production…
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The price is 25% of the hardback here.
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via Max Auffhammer: Thanks to generous renewal funding from the Alfred P. Sloan Foundation, the Berkeley Summer School will take place again this year – in person! The goal of the summer school is to provide doctoral students nationwide, who have completed the core first year microeconomics and econometrics requirement, with an overview of the…
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On the day of the final in my 2000 level environmental and resource economics course, the WSJ published the article on Clean Power Plan 2.0 (Biden Administration Targets Power-Plant Emissions in New Climate Initiative): The Biden administration proposed new rules Thursday to drastically reduce greenhouse gases from coal- and gas-fired power plants—measures that will cost…
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I teach an online MBA managerial economics class and try to inject environmental content as much as I can (after all, we have the #1 ranked sustainable MBA program in NC). I'm terrible at game theory but I think I have found a WSJ article that helps (Tesla’s Price Cuts Are Roiling the Car Market): …
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Here is the abstract from the paper which is forthcoming in the Journal of Economic Education: Economic theories of the exploitation of depletable natural resources are built around a core model of intertemporal profit maximization that predicts that (barring unforeseen shocks) scarcity crises will not arise because forward looking resource owners will smooth extraction over…
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Hotelling's Rule is a theory of nonrenewable natural resources that says that prices of such resources will rise at the rise of interest over time (all else equal). When there is a backstop fuel, think renewables like wind and solar, the "switch point" is when society switches from nonrenewables to renewables because the price of…
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