FARE 2700 Lecture Notes - Lecture 3: Ecological Collapse, Worldwatch Institute, Earth Summit
8 Dec 2017
School
Course
Professor
Document Summary
With positive feedback loops, the process is self-reinforcing. The role of economics: how societies respond to challenges will depend largely on the behaviour of human beings acting. It can also identify the circumstances where markets fail, and clarify how and why that specific set of circumstances supports degradation. The road ahead: not only does environmental and natural resource economics provide a firm basis for understanding the behavioural sources of environmental problems, but also this understanding provides a firm foundation for crafting specific solutions to them. The issues: to act as if one vision is correct, when it is not, could prove to be a costly error, must address some basic issues: Example 1. 2: the appeal of experimental economics is based upon its ability to study human behaviour in a more controlled setting, participants were asked to make choices, and bid on buying carbon allowances.
