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Tag Archives: equimarginal principle
If we can value ecosystem services, then the “housing v countryside” debate can be treated as an optimisation problem. Cities often expand laterally to provide housing for an increasing population. This usually involves a loss of surrounding farmland, woodland, wetlands … Continue reading
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