Resource Economics
1 Recycling
recycled and virgin
๐ช๐๐๐ ๐๐๐๐๐: \(๐ด๐ช_๐ฝ = ๐ด๐ช_๐น = ๐ด๐ฉ\)
Recycling ratio: \(\frac{Q_R}{Q}\)
2 Energy
CS, PS,
Shortage
blackout
bankrupt
3 Externality
3.1 the market allocation and market price
๐๐๐ซ๐ค๐๐ญ ๐จ๐ฎ๐ญ๐๐จ๐ฆ๐:๐๐ = ๐๐๐
TB VC ่ฆ็งฏๅ
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
๐๐๐๐ข๐๐ข๐๐ง๐ญ ๐จ๐ฎ๐ญ๐๐จ๐ฆ๐:๐๐ = ๐๐๐, ๐ฐ๐ก๐๐ซ๐ ๐๐๐ = ๐๐๐ + ๐๐๐
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.
๐๐๐ซ๐ค๐๐ญ ๐จ๐ฎ๐ญ๐๐จ๐ฆ๐ ๐ฐ๐ข๐ญ๐ก ๐ญ๐๐ฑ:๐๐ = ๐๐๐ + ๐ญ
a per unit tax could be used to correct this market failure
3.4 the change in CS, PS, EC, GR, and NB.
้ๆฐ็ฎไธ้ใๆฏ่พใtaxๆๆใ
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
็ฐๅจfunctionๅๅพ้ฝๆฏๅ ณไบS็ใ
่ช็ถ็็ปๆใ
the stock size that supports the maximum sustainable yield, \(S_{MSY}\)
ๆๅคงๅฏไปฅๆๅคๅฐ้ฑผใ
้่ฆๅคๅฐE.
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):
ๅพๅฐไธไธชๅ ณไบE functionๆฏๆ้่ฆ็ๅบๅซใ ไป็ฐๅจๅผๅง๏ผๅพๅคfunctionๅๅพ้ฝๆฏๅบไบE็ใ ๆฏ่ช็ถๅไบบไธบๅ ฑๅ็็ปๆใ
S(E)
H(E)
ไธๆฏ่ถๅๅ๏ผ่ถๆๆ็
้ฑผๆฏๆ้็ๅฏๅ็่ตๆบ๏ผๅคชๅๅ๏ผS ไธ้๏ผ H ไธ้๏ผ่ต็ๅฐใ
4.3 static efficient sustainable yield.
่ฆ่ตๆๅค็้ฑ๏ผ้่ฆๆๅคๅฐ้ฑผใ
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 fisheryโs economic yield; in the OAE, MR โ MC.
- Note: Previously, the syntax for entering LaTeX inline was โ$latex 2+2$,โ whereas now I can type โ\( 2+2 \)$โ and โ\[ 2+2 \]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