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Env Economice & Sustainability Okt23 > Hussein, A. KAP 6-8. > Flashcards

Hussein, A. KAP 6-8. Flashcards

1
Q

TEC?

A

Transferable emissions credits.

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2
Q
  1. Pollution right?
A

A credit, consist of a unit (tons/year) of a specific pollutant.

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3
Q
  1. Grandfathering principle?
A

Credits are related to size of firms historical level of emissions. Only have to pay for additional credits they need. New firms need to pay for all credits.

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4
Q
  1. Bubble Policy?
A

Company with several sources, factory can treat all as a single one = can emit more than others. Factory remains within emission standards + don’t need to meet standard for each source.

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5
Q
  1. Banking Policy?
A

Pollution credits can be saved for later use, when needed.

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6
Q
  1. Market power?
A

Old firms can refuse to sell to new firms, limit competition & a barrier to enter market.

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7
Q
  1. Relocation effect?
A

Risk that firm sell/not buy credits & move factory to less regulated area/country.

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8
Q
  1. Hot-spots?
A

High local concentration of pollution. Firms with many factorys, can choose to emit bigger amounts in 1 location by offset it by reduction in another location.

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9
Q
  1. What is TEC?
A

A market based pollution control & policy instrument. A artificial market for pollution rights, traded. Credit = permit of unit of X pollution.

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10
Q
  1. Porter Hypothesis?
A

That regulations force firms to become more productive & innovative.

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11
Q
  1. Market pricing?
A

Env improvement causes in/decrease in real in/outputs.
Timber /minerals = market goods.

Decrease in extraction of raw materials = measure loss in C Surplus.
Also a opportunity cost included.

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12
Q
  1. Willingness to pay?
A

Maximum amount of $$ that member are WTP for improvment in env or reduce x/damage.
Wtp= area under MDC curve.

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13
Q

WTA?

A

Minimum monetary compensation that member need to accept Env projects.

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14
Q
  1. Revealed Preference?
A

WTP = by observing ‘actually purchasing behavior of resource users, in real-market. Used in:

Market pricing
Hedonic pricing
Household production
Aversive expenditures
Travel cost

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15
Q
  1. Consumers Surplus?
A

Diff between what C are WTP & what they actually pays for X in a market.

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16
Q
  1. Replacement cost?
A

measure of benefits when damage has been avoided, by improved Env conditions + market value of cost to restore / replace the damage.

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17
Q
  1. Replacement cost + WTP = ?
A

Measures gain from avoided damage & replacing lost service. Assuming that public will accept trade-offs between lost & gained due to restoration.

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18
Q
  1. Hedonic Pricing?
A

Statistiv method. How diff
Env features can increase/decrease land/house value. Lakes - landfill.

19
Q
  1. Hedonic pricing + WTP =?
A

Their WTP for avoiding X associated with undesirable feature/landfill, by paying higher prices for house farther away.

20
Q
  1. Household Production?
A

Looking at households expenditures on goods/service, how they value something.
Benefits from improvement in Env quality. $$ spent on goods/services to avoid damage. Ex: soundproofing, water filters.

21
Q
  1. Household Production + WTP = ?
A

WTP - pay money/price to avoid specific Env damage.

22
Q
  1. Travel cost method?
A

Measures benefit/ WTP for experience, looking at cost of travel to site.

23
Q
  1. Different methods in Revealed Preference valuation?
A

Replacement cost.
Hedonic pricing.
Household Production.
Aversive expenditures.
Travel costs.

24
Q

SP - Stated preference valuation?

A

Estimate non-use values of Ecosystem services. WTP = asking people to state their preferences by using surveys.

25
Q
  1. CVM method?
A

Contingent valuation method: asking to provide monetary value of Env resources.

26
Q
  1. CBA - Cost-benefit analysis?
A

Tool used to appraise (bedömma) policies & public projects. Bridges, roads, dams, airports. And their net contribution to social benefits.
-> investment is profitable if ‘‘monetary’’ value exeeds the costs vs social benefits.

27
Q
  1. P1: Actual Pareto Improvement?
A

No members of a society become worse of, and at least ‘one’ becomes better off = project should be accepted.

28
Q
  1. P2: Potential Pareto improvement?
A

(Kaldor-Hicks): Gains from the project can compensate the losers, and they still remain better off in their economic condition, than they were before. (teoretiskt, ingen komp behöver utgå..)

29
Q
  1. Net Present value?
A
  • value of things today AND to things/project in the future.
  • present value of benefits, minus - present value of cost = X.

-If Net present value is positive, the project is profitable.

30
Q
  1. Public & Private sectors uses which analysis method?
A

Public: CBA, Cost-benefit analysis.
Private: Capital budgeting.

31
Q
  1. Double counting?
A

Risk to count some internal/ external/social cost more than once.
Ex: timber + conservation= decline in supply - increase $ in construction/furniture. But, the increase should not be incl pga. secondary effects = $ increase in the economy.

32
Q
  1. What is Discount rate??
A

% rate, decide how to value future events, compared to events taking place today..

33
Q
  1. Precautionary Principle?
A

Action against certain practices, potential for damage & consequences. No scientific proof needed. Ex: Global warming, ozone, new species.

34
Q
  1. CEA, Cost-effectivness analysis?
A

A least-cost methods, too achieving stated Env goals etc. Ex: Clean up of a river + specific water quality. Cost is more important, than benefits: bang for the buck.

35
Q
  1. EIA, Environmental Impact analysis?
A

Tracing the relevant physical/ Ecological linkages to Env impact of different projects.

36
Q
  1. Risk Assessment?
A

Scientific aspect, including data to describe the form & characteristics of risks, vs harm to nature/env/humans.
-How risky is the situation?

37
Q
  1. Risk Management?
A

The process incl. Risk Assessment and its used with other information (data, costs, economic/social consequences) to make regulatory decisions.

38
Q
  1. Use value?
A

what we get from Env/nature: fishing, hiking, raw materials/using inputs from env.

39
Q
  1. Non-use values?
A

Option v: for future, Grand Canion, may wisit in the future.
Bequest v: selfish value, like the idea of a rainforest.
Existence: for others, animal, people in the rainforest.

40
Q
  1. Aversive expenditures?
A

Households are wtp to avoid damage & get a specific Env standard.
Ex: install ventilation system, water filters.

41
Q
  1. 2 NPV, Net present value types?
A
  • NPV > 0: project is societal profitable.
  • NPV < 0: project is not societal profitable.
42
Q
  1. Difrent types of Discount rates?
A

Used to calculate present values (nuvärden) of cost & benefits.

  • +rate: events in the future, has a lower value, than if it occurred today.
  • 0 rate: events in the future, has the same value, as if it occurred today.
  • -rate: events in the future, has a higher value, than if it occurred today.
43
Q
  1. What is Discounting, in CBA?
A

Calculate backwards, to get future costs in present value/nuvärden.

Env Economice & Sustainability Okt23 (7 decks)

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