About Economic Droplets
An environmental and natural resource economics blog by Adam Bailey (below). For details and profile see About.
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© Adam Bailey and Economic Droplets, 2012-2026.
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Author Archives: Adam Bailey
Managing Natural Capital
A critical analysis of Dieter Helm’s ‘Natural Capital: Valuing the Planet’. Contents Introduction The Asset-Based Approach The Importance of Natural Capital Valuing Natural Capital Natural Goods – and Bads Sustainability and Renewable Natural Capital Sustainability and Non-Renewable Natural Capital National … Continue reading
Pollution Control and Output
Discussions of pollution control often focus on abatement technologies. But that’s only half the picture. Suppose a profit-maximising firm is producing and selling a good, but the production process emits a pollutant. In the absence of policy intervention, it will … Continue reading
Constant Consumption with Resource Depletion
I present here a defence of the following proposition: to maintain consumption per person in the long run as non-renewable resources are increasingly depleted, the world needs technical progress so that we can obtain more output from available resources. The … Continue reading
A Key Technique of Environmental Economics
Dynamic optimisation, also known as optimal control, is one of the most important techniques of environmental and natural resource economics. Although it’s difficult, the basics should be a compulsory element of graduate-level courses in these fields. I managed to get … Continue reading
Posted in Mathematical Techniques
Tagged dynamic optimisation, maximum principle, optimal control
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