Resource


Resource Economics

1 Recycling

recycled and virgin

๐‘ช๐’๐’๐’…๐’Š๐’•๐’Š๐’๐’: \(๐‘ด๐‘ช_๐‘ฝ = ๐‘ด๐‘ช_๐‘น = ๐‘ด๐‘ฉ\)

Recycling ratio: \(\frac{Q_R}{Q}\)


2 Energy

CS, PS,

Shortage

blackout

bankrupt


3 Externality

3.1 the market allocation and market price

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐จ๐ฎ๐ญ๐œ๐จ๐ฆ๐ž:๐Œ๐ = ๐Œ๐๐‚

TB VC ่ฆ็งฏๅˆ†

In the presence of a negative externality, the market outcome is inefficient

3.2 the efficient extraction level

and use a diagram to illustrate the DWL.

area represents the deadweight loss at the market outcome

๐„๐Ÿ๐Ÿ๐ข๐œ๐ข๐ž๐ง๐ญ ๐จ๐ฎ๐ญ๐œ๐จ๐ฆ๐ž:๐Œ๐ = ๐Œ๐’๐‚, ๐ฐ๐ก๐ž๐ซ๐ž ๐Œ๐’๐‚ = ๐Œ๐๐‚ + ๐Œ๐„๐‚

3.3 a per unit tax

If producers must pay a per unit tax equal to the MEC at the efficient outcome, they will be forced to internalize the externality.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐จ๐ฎ๐ญ๐œ๐จ๐ฆ๐ž ๐ฐ๐ข๐ญ๐ก ๐ญ๐š๐ฑ:๐Œ๐ = ๐Œ๐๐‚ + ๐ญ

a per unit tax could be used to correct this market failure

3.4 the change in CS, PS, EC, GR, and NB.

้‡ๆ–ฐ็ฎ—ไธ€้ใ€‚ๆฏ”่พƒใ€‚taxๆœ‰ๆ•ˆใ€‚

PS and CS are lower with the tax, so producers and consumers lose. External costs decrease and tax revenues increase, so external agents and the government (taxpayers) gain.


4 Fisheries:

4.1 MSY

็Žฐๅœจfunctionๅ’Œๅ›พ้ƒฝๆ˜ฏๅ…ณไบŽS็š„ใ€‚

่‡ช็„ถ็š„็ป“ๆžœใ€‚

the stock size that supports the maximum sustainable yield, \(S_{MSY}\)

ๆœ€ๅคงๅฏไปฅๆ‰“ๅคšๅฐ‘้ฑผใ€‚

้œ€่ฆๅคšๅฐ‘E.

How many traps need to be set to catch the MSY.

4.2 Sustainable yield

In SS, G(S) = H(E,S).

or steady state harvest, as a function of effort, H(E).

In SS, \(G(S) = H(E,S)\). This condition can be used to derive the sustainable stock size as a function of effort:

Substituting S(E) into to the harvest production function gives H(E):

ๅพ—ๅˆฐไธ€ไธชๅ…ณไบŽE functionๆ˜ฏๆœ€้‡่ฆ็š„ๅŒบๅˆซใ€‚ ไปŽ็Žฐๅœจๅผ€ๅง‹๏ผŒๅพˆๅคšfunctionๅ’Œๅ›พ้ƒฝๆ˜ฏๅŸบไบŽE็š„ใ€‚ ๆ˜ฏ่‡ช็„ถๅ’Œไบบไธบๅ…ฑๅŒ็š„็ป“ๆžœใ€‚

S(E)

H(E)

ไธๆ˜ฏ่ถŠๅ–ๅŠ›๏ผŒ่ถŠๆœ‰ๆ•ˆ็Ž‡

้ฑผๆ˜ฏๆœ‰้™็š„ๅฏๅ†็”Ÿ่ต„ๆบ๏ผŒๅคชๅ–ๅŠ›๏ผŒS ไธ‹้™๏ผŒ H ไธ‹้™๏ผŒ่ตš็š„ๅฐ‘ใ€‚

4.3 static efficient sustainable yield.

่ฆ่ตšๆœ€ๅคš็š„้’ฑ๏ผŒ้œ€่ฆๆ‰“ๅคšๅฐ‘้ฑผใ€‚

MB = MC

MB = P Hโ€™(E)

4.4 In an OAE, TR = TC:

PH E = wE

The OAE is economically inefficient because it does not maximize the fisheryโ€™s economic yield; in the OAE, MR โ‰  MC.

  • Note: Previously, the syntax for entering LaTeX inline was โ€œ$latex 2+2$,โ€ whereas now I can type โ€œ\( 2+2 \)$โ€ and โ€œ\[ 2+2 \]โ€ for block math rendering.

MathJax Then I added MathJax โ€“ basically this meant including MathJax on the _includes/head.html page and a few other tweaks. In head.html, I included the block:

http://www.dianacai.com/blog/2015/09/12/making-blog/

http://clayh53.github.io/tufte-jekyll/articles/15/tufte-style-jekyll-blog