Resource Economics

1 Recycling

recycled and virgin

𝑪𝒐𝒏𝒅𝒊𝒕𝒊𝒐𝒏: $𝑴𝑪_𝑽 = 𝑴𝑪_𝑹 = 𝑴𝑩$

Recycling ratio: $\frac{Q_R}{Q}$

2 Energy

CS, PS,

Shortage

blackout

bankrupt

3 Externality

3.1 the market allocation and market price

𝐌𝐚𝐫𝐤𝐞𝐭 𝐨𝐮𝐭𝐜𝐨𝐦𝐞:𝐌𝐁 = 𝐌𝐏𝐂

TB VC 要积分

$𝑪𝑺 = 𝑻𝑩 − 𝑷^𝒎𝑸^𝒎$ $𝑷𝑺 = 𝑻𝑹 − 𝑽𝑪$ $EC = \int_0^{Q^m} MEC dQ$ $𝑵𝑩 = 𝑪𝑺 + 𝑷𝑺 − 𝑬𝑪$

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

𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐨𝐮𝐭𝐜𝐨𝐦𝐞:𝐌𝐁 = 𝐌𝐒𝐂, 𝐰𝐡𝐞𝐫𝐞 𝐌𝐒𝐂 = 𝐌𝐏𝐂 + 𝐌𝐄𝐂

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.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐨𝐮𝐭𝐜𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐭𝐚𝐱:𝐌𝐁 = 𝐌𝐏𝐂 + 𝐭

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

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

重新算一遍。比较。tax有效。

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

现在function和图都是关于S的。

自然的结果。

$G'(S) = 0$ $MSY = G(S)$

the stock size that supports the maximum sustainable yield, $S_{MSY}$

最大可以打多少鱼。

需要多少E.

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

$𝐇( 𝐄, 𝐒_{𝐌𝐒𝐘}) = 𝐞 𝐄 𝐒_{𝐌𝐒𝐘} = 𝐌𝐒𝐘$

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):

得到一个关于E function是最重要的区别。从现在开始，很多function和图都是基于E的。是自然和人为共同的结果。

S(E)

H(E)

不是越卖力，越有效率

鱼是有限的可再生资源，太卖力，S 下降， H 下降，赚的少。

4.3 static efficient sustainable yield.

要赚最多的钱，需要打多少鱼。

MB = MC

MB = P H’(E)

$MC = \frac{\partial TC}{\partial E}$

4.4 In an OAE, TR = TC:

PH E = wE

The OAE is economically inefficient because it does not maximize the fishery’s economic yield; in the OAE, MR ≠ MC.

Note: Previously, the syntax for entering LaTeX inline was “$latex 2+2$,” whereas now I can type “$ 2+2 $$” and “\[ 2+2 \]” for block math rendering.

MathJax Then I added MathJax – 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