에너지환경 경제학 (2)
아주대학교 경제학과, 에너지시스템학과, 금융공학협동과정
교수 김수덕 (suduk@ajou.ac.kr)
The Production Opportunities of the Farmer and Rancher
The Circular Flow Diagram
Positive Economics
The essence of science is the scientific method
 the dispassionate development and testing of theories about how the
world works.
 This method of inquiry is as applicable to studying a nation's economy
as it is to studying the earth's gravity or a species' evolution.
 As Albert Einstein once put it, "the whole of science is nothing more
than the refinement of everyday thinking
The scientific method
 observation, theory, and more observation
 How does the interplay between the theory and observation work?
 Does the challenge that experiments are often difficult in
economics make economics not scientific?
The role of Assumption
 Should an assumption be real? Or what does it have to do with the art
of scientific thinking?
 What is the role of different assumptions to answer different
questions?
Positive vs. Normative Analysis
Natural resource economics
Natural resource economics deals with the supply, demand, and allocation of the Earth's natural
resources. One main objective of natural resource economics is to better understand the role of
natural resources in the economy in order to develop more sustainable methods of managing
those resources to ensure their availability to future generations.
One main objective of natural resource economics is to better understand the role of natural
resources in the economy in order to develop more sustainable methods of managing those
resources to ensure their availability to future generations.
The economics and policy area focuses on the human aspects of environmental problems.
Traditional areas of environmental and natural resource economics include welfare theory,
pollution control, resource extraction, and non-market valuation, and also resource exhaustibility,]
sustainability, environmental management, and environmental policy.
Research topics could include





the environmental impacts of agriculture,
transportation and urbanization,
land use in poor and industrialized countries,
international trade and the environment,
climate change, and methodological advances in non-market valuation, to name just a few. welfare theory,
pollution control, resource extraction, and non-market valuation,
 and also resource exhaustibility, sustainability, environmental management, and environmental policy.
Natural resource economics also relates to energy, and is a broad scientific subject area which
includes topics related to supply and use of energy in societies.
Source: http://en.wikipedia.org/wiki/Natural_resource_economics
Environmental economics
Environmental economics is a subfield of economics concerned with
environmental issues. Quoting from the National Bureau of Economic Research
Environmental Economics program:
 “ [...] Environmental Economics [...] undertakes theoretical or empirical studies of the economic
effects of national or local environmental policies around the world [...]. Particular issues include the
costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic
substances, solid waste, and global warming.”
 Environmental economics is distinguished from Ecological economics that emphasizes the economy
as a subsystem of the ecosystem with its focus upon preserving natural capital. One survey of
German economists found that ecological and environmental economics are different schools of
economic thought, with ecological economists emphasizing "strong" sustainability and rejecting the
proposition that natural capital can be substituted by human-made capital. For an overview of
international policy relating to environmental economics, see Runnals (2011).
Central to environmental economics is the concept of market failure. Market
failure means that markets fail to allocate resources efficiently. As stated by
Hanley, Shogren, and White (2007) in their textbook Environmental Economics.
Source: http://en.wikipedia.org/wiki/Environmental_Economics
The Market for Aluminum (Efficiency)
What is an externality?
Why do externalities make market outcomes
inefficient?
How can people sometimes solve the problem of
externalities on their own? Why do such private
solutions not always work?
What public policies aim to solve the problem of
externalities?
Introduction
One type of market failure: externalities.
Externality: the uncompensated impact of
one person’s actions on the well-being of a
bystander
Negative externality:
the effect on bystanders is adverse
Positive externality:
the effect on bystanders is beneficial
Self-interested buyers and sellers
neglect the external effects of their actions,
so the market outcome is not efficient.
Pollution: A Negative Externality
Example of negative externality:
Air pollution from a factory.
The firm does not bear the
full cost of its production,
and so will produce
more than the
socially efficient quantity.
How govt may improve
the market outcome:
Impose a tax on the firm equal to the
external cost of the pollution it generates
Other Examples of Negative Externalities
the neighbor’s barking dog
late-night stereo blasting from the dorm room
next to yours
noise pollution from construction projects
talking on cell phone while driving makes the
roads less safe for others
health risk to others from second-hand smoke
Positive Externalities from Education
A more educated population
benefits society:
 lower crime rates: educated people
have more opportunities, so less
likely to rob and steal
 better government: educated people
make better-informed voters
People do not consider these
external benefits when deciding
how much education to “purchase”
Result: market eq’m quantity of
education too low
How govt may improve the market
outcome:
 subsidize cost of education
Other Examples of Positive Externalities
Being vaccinated against
contagious diseases
protects not only you,
but people who visit the
salad bar or produce section
after you.
R&D creates knowledge
others can use
Renovating your house
increases neighboring
property values
Thank you for
not
contaminating
the fruit supply!
Recap of Welfare Economics
P The market for gasoline
$5
4
Supply curve shows private
cost, the costs directly
incurred by sellers
3
$2.50
2
Demand curve shows private
value, the value to buyers (the
prices they are willing to pay)
1
0
The market eq’m
maximizes consumer
+ producer surplus.
0
10
Q
20 25 30
(gallons)
Analysis of a Negative Externality
P The market for gasoline
$5
Social cost
= private + external cost
externa
l cost
4
Supply (private cost)
3
External cost
= value of the negative
impact
on bystanders
= $1 per gallon
(value of harm
from smog,
greenhouse gases)
2
1
0
0
10
20
30 Q
(gallons)
Analysis of a Negative Externality
P The market for gasoline
$5
Social
cost
The socially
optimal quantity is
20 gallons.
4
S
At any Q < 20,
value of additional gas
exceeds social cost
3
2
D
1
0
0
10
20 25 30 Q
(gallons)
At any Q > 20,
social cost of the
last gallon is
greater than its value
Analysis of a Negative Externality
P The market for gasoline
$5
Social
cost
4
S
3
2
D
1
0
0
10
20 25 30
Q
Market eq’m
(Q = 25)
is greater than
social optimum
(Q = 20)
One solution:
tax sellers
$1/gallon,
would shift
supply curve
up $1.
“Internalizing the Externality”
Internalizing the externality:
altering incentives so that
people take account of the
external effects of their
actions
In the previous example, the
$1/gallon tax on sellers
makes sellers’ costs equal to
social costs.
When market participants
must pay social costs, the
market eq’m matches the
social optimum.
(Imposing the tax on buyers
would achieve the same
outcome; market Q would
equal optimal Q.)
Positive Externalities
In the presence of a positive externality,
the social value of a good includes
private value – the direct value to buyers
external benefit – the value of the
positive impact on bystanders
The socially optimal Q maximizes welfare:
At any lower Q, the social value of
additional units exceeds their cost.
At any higher Q, the cost of the last unit exceeds its social
value.
1:
Analysis of a positive externality
ACTIVE LEARNING
P The market for flu shots
$50
40
S
30
20
10
External benefit
= $10/shot
Draw the social
value curve.
Find the socially
optimal Q.
What policy would
internalize this
externality?
D
0
Q
0
10
20
30
22
ACTIVE LEARNING
1:
Answers
P The market for flu shots
$50
externa
l
benefit
40
Socially optimal Q
= 25 shots
To internalize the
externality, use
subsidy = $10/shot.
S
30
20
10
D
0
Social value
= private value
+ external
benefit
Q
0
10
20 25 30
23
Effects of Externalities: Summary
If negative externality
 market produces a larger quantity
than is socially desirable
If positive externality
 market produces a smaller quantity
than is socially desirable
To remedy the problem,
“internalize the externality”
 tax goods with negative externalities
 subsidize goods with positive externalities
Market Failure
Externality: the basic idea is that an externality exists when a person makes a choice that affects other people that
are not accounted for in the market price. For instance, a firm emitting pollution will typically not take into
account the costs that its pollution imposes on others. As a result, pollution in excess of the 'socially efficient' level
may occur. A classic definition influenced by Kenneth Arrow and James Meade is provided by Heller and Starrett
(1976), who define an externality as “a situation in which the private economy lacks sufficient incentives to create
a potential market in some good and the nonexistence of this market results in losses of Pareto efficiency.” In
economic terminology, externalities are examples of market failures, in which the unfettered market does not lead
to an efficient outcome.
Common property and non-exclusion: When it is too costly to exclude people from access to an environmental
resource for which there is rivalry, market allocation is likely to be inefficient. The challenges related with
common property and non-exclusion have long been recognized. Hardin's (1968) concept of the tragedy of the
commons popularized the challenges involved in non-exclusion and common property. "commons" refers to the
environmental asset itself, "common property resource" or "common pool resource" refers to a property right
regime that allows for some collective body to devise schemes to exclude others, thereby allowing the capture of
future benefit streams; and "open-access" implies no ownership in the sense that property everyone owns nobody
owns. The basic problem is that if people ignore the scarcity value of the commons, they can end up expending too
much effort, over harvesting a resource (e.g., a fishery). Hardin theorizes that in the absence of restrictions, users
of an open-access resource will use it more than if they had to pay for it and had exclusive rights, leading to
environmental degradation. See, however, Ostrom's (1990) work on how people using real common property
resources have worked to establish self-governing rules to reduce the risk of the tragedy of the commons.
Public goods and non-rivalry: Public goods are another type of market failure, in which the market price does not
capture the social benefits of its provision. For example, protection from the risks of climate change is a public
good since its provision is both non-rival and non-excludable. Non-rival means climate protection provided to one
country does not reduce the level of protection to another country; non-excludable means it is too costly to exclude
any one from receiving climate protection. A country's incentive to invest in carbon abatement is reduced because
it can "free ride" off the efforts of other countries. Over a century ago, Swedish economist Knut Wicksell (1896)
first discussed how public goods can be under-provided by the market because people might conceal their
preferences for the good, but still enjoy the benefits without paying for them.
Four Types of Goods/Bads
Garbage
Garbage without enforcement & Law
Indoor air pollution
Air, Noise pollution
Garbage: Excludable bad, so long as there are laws and enforcement that help control its m
anagement and disposal
Market Efficiency and Market Failure
MWPT
MC
$
a
MEC
(Marginal External Cost)
Pe
b
c
qe
생산가치의 극대화
MEC +MC
MWPT
MC
$
a
Pe
사회적 후생의 극대화
b
c
qe
Public Good and Market Failure
환경재의 공공재적 성격
125
가구 1
100
75
• 호수 주변에 세가구가 살고 있다.
• 현재 이 호수의 오염농도는 5ppm이며 정화시설을 설치
하면 수질을 개선할 수 있다.
•가구들은 아래와 같이 그 비용을 지불할 의사가 있다
MWTP1
50
25
125
4
3
오염도
MWTP1
MWTP2
MWTP3
Total
오염제거의
(가구1)
(가구 2)
(가구3)
MWTP
MC
4
110
60
30
200
50
1
75
50
3
2
85
35
20
140
70
10
15
95
65
MWTP2
25
4
95
125
(55)
(0)
(10)
(65)
1
55
0
10
65
150
100
0
45
0
5
50
240
75
3
2
1
0
가구 3
50
 Incentive to Under-report
=> Market Failure
0
가구 2
100
(ppm)
2
MWTP3
25
4
3
2
1
0
250
MC
200
150
100
MWTPT
50
4
3
2
1
0
Public Policies Toward Externalities
Two approaches
Command-and-control policies
regulate behavior directly. Examples:
limits on quantity of pollution emitted
requirements that firms adopt a particular technology to
reduce emissions
Market-based policies
provide incentives so that private decision-makers
will choose to solve the problem on their own.
Solutions (Market Failure and Gov’t Intervention)
Environmental Regulations
Pay-As-You-Throw
Taxes and tariffs on pollution/Removal of "dirty
subsidies
Quotas on pollution
TREC (tradeable emissions reduction permits)
Property Rights and Coase Theorem
Solutions (Environmental Regulations)
Pay-As-You-Throw
EPA supports this new approach to solid waste management because it
encompasses three interrelated components that are key to successful
community programs:
 Environmental Sustainability - Communities with programs in place have reported
significant increases in recycling and reductions in waste, due primarily to the waste reduction
incentive created by PAYT. Less waste and more recycling mean that fewer natural resources
need to be extracted. In addition, greenhouse gas emissions associated with the manufacture,
distribution, use, and subsequent disposal of products are reduced as a result of the increased
recycling and waste reduction PAYT encourages. In this way, PAYT helps slow the buildup
of greenhouse gases in the Earth's atmosphere which leads to global climate change. For more
information on the link between solid waste and global climate change, go to EPA's Climate
Change Web site.
 Economic Sustainability - PAYT is an effective tool for communities struggling to cope with
soaring municipal solid waste management expenses. Well-designed programs generate the
revenues communities need to cover their solid waste costs, including the costs of such
complementary programs as recycling and composting. Residents benefit, too, because they
have the opportunity to take control of their trash bills.
 Equity - One of the most important advantages of a variable-rate program may be its inherent
fairness. When the cost of managing trash is hidden in taxes or charged at a flat rate, residents
who recycle and prevent waste subsidize their neighbors' wastefulness. Under PAYT,
residents pay only for what they throw away.
Solutions (Environmental Regulations)
음식물 쓰레기 종량제의 필요성
Source: 음식물쓰레기 종량제시스템 도입 및 구축방향, 대진대학교 환경공학과 김병태, 2011. 11. 25
RFID (radio frequency identification) 기반 시스템 구성도
Source: 음식물쓰레기 종량제시스템 도입 및 구축방향, 대진대학교 환경공학과 김병태, 2011. 11. 25
Solutions (Taxes and tariffs on pollution)
Corrective tax: a tax designed to induce private decisionmakers to take account of the social costs that arise from a
negative externality
 Also called Pigouvian taxes after Arthur Pigou (1877-1959).
 The ideal corrective tax = external cost
 For activities with positive externalities,
ideal corrective subsidy = external benefit
Taxes and tariffs on pollution/Removal of "dirty subsidies."
 Increasing the costs of polluting will discourage polluting, and will
provide a "dynamic incentive," that is, the disincentive continues to
operate even as pollution levels fall.
 A pollution tax that reduces pollution to the socially "optimal" level
would be set at such a level that pollution occurs only if the benefits to
society (for example, in form of greater production) exceeds the costs.
 Some advocate a major shift from taxation from income and sales
taxes to tax on pollution - the so-called "green tax shift."
Corrective Taxes & Subsidies
Example:
Acme, US Electric run coal-burning power plants.
Each emits 40 tons of sulfur dioxide per month. SO2
causes acid rain & other health issues.
Policy goal: reducing SO2 emissions 25%
Policy options
regulation:
require each plant to cut emissions by 25%
corrective tax:
Make each plant pay a tax on each ton of SO2 emissions.
Set tax at level that achieves goal.
Corrective Taxes & Subsidies
Suppose cost of reducing emissions is lower for Acme than for
US Electric. Socially efficient outcome: Acme reduces emissions
more than US Electric.
The corrective tax is a price on the right to pollute.
 Like other prices, the tax allocates this “good” to the firms who value it
most highly (US Electric).
 Under regulation, firms have no incentive to reduce emissions beyond the
25% target.
 A tax on emissions gives firms incentive to continue reducing emissions as
long as the cost of doing so is less than the tax.
 If a cleaner technology becomes available, the tax gives firms an incentive
to adopt it.
Other taxes distort incentives and move economy away from the
social optimum.
But corrective taxes enhance efficiency by aligning private with
social incentives.
The Equivalence of Pigovian Taxes and Pollution Permits
• 버스회사로 하여금 공급곡선을
자신의 사적한계비용을 나타내는
PMC가 아니라 새로운 사적 한
계비용을 나타내는 PMCt로 느
끼고 행동할 수 있도록 세금 t
를 부과하는 방법.
• 사회적 비용을 고려한 것과
동일한 결과에 도달하여 사회적
으로 바람직한 수준만큼 버스가
운행되고 오염배출량이 결정되도
록하는 결과.
• 현실적용에 있어서는 측정의
문제가 가장 큰 제약
Pollution Permit
Example of a Corrective Tax: The Gas Tax
The gas tax targets three negative externalities:
 congestion
the more you drive, the more you contribute to congestion
 accidents
larger vehicles cause more damage in an accident
 pollution
burning fossil fuels produces greenhouse gases
Solutions (Environmental Regulations)
congestion charges or road usage charges
Source: Jonathan Leape, The London Congestion Charge, Journal of Economic Perspectives—Volume 20, Number 4—Fall 2006—Pages 157–176
Solutions (Quotas on pollution)
tradeable emissions permits, which if freely
traded may ensure that reductions in pollution
are achieved at least cost.
 In theory, if such tradeable quotas are allowed,
then a firm would reduce its own pollution
load only if doing so would cost less than
paying someone else to make the same
reduction.
 In practice, tradeable permits approaches have
had some success, such as the U.S.'s sulphur
dioxide trading program or the EU Emissions
Trading Scheme, and interest in its application
is spreading to other environmental problems.
Point Carbon Secondary CER OTC
자료: http://www.pointcarbon.com
Tradable Pollution Permits in the Real World
SO2 permits traded in the U.S. since 1995.
Nitrogen oxide permits traded in the northeastern U.S. since 1999.
Carbon emissions permits traded in Europe since January 1, 2005.
 Examples:
 CCX(Chicago Climate Exchange),
 CFE(Chicago Climate Future Exchange)
 ECX(European Climate Exchange)
Emission Credit 의 종류





AAUs (Assigned Amount Units)
EUAs (EU Allowance Units)
CERs (Certified Emission Reductions)
ERUs (Emission Reduction Units)
RMUs (Removal Units)
탄소배출권거래제
최근 언론에서 자주 보도되는‘탄소배출권거래제’는 지구온난화의 주범인 이산화탄소(CO₂)의 배출을 억제
하기위해 도입된 강력한 경제적수단 중의 하나다. 탄소배출권은 2005년부터 EU 국가를 중심으로 본격적으
로 거래되기 시작해 높게는CO₂ 톤당 30유로까지 높은 가격대에서 거래됐다가 최근 글로벌 경기침체와 유가
하락으로 10유로대에서 거래되고있다.
탄소배출권거래제는 기업에 도전이자 기회기도 하다. 하나의 탄소배출권은 CO₂1톤을 배출할 수 있는 권리를
의미하는데, 만일 어느 기업이 배출권을 확보하지못하면 화석연료의 사용과 그에 따른 생산활동에 제약을 받게
된다. 보유한 배출권의 양이 자신이 배출한 CO₂의 양보다 적을 경우에는 소정의 페널티를 지급해야한다. 현
재 EU에서는 이같은 초과배출량에 CO₂톤당 100유로의 높은 페널티를 부과하고있다. 페널티를 치르지 않으
려면 탄소 배출권시장에서 높은 가격을 내고서라도 배출권을 매입해야한다. 한편, 기업이 나름대로 노력해 온
실가스의 배출을 줄여 배출권이 필요 이상으로 많이있다고 판단되면 이를 시장에서 매도할수있다.
탄소배출권은 재화를 생산하는 기업만 거래할수있는 것이 아니기 때문에, 전문적인 금융거래기관도 관심을 가
질수있다. 배출권의 매입과 매도의 메커니즘은 증권거래소에서 주식이나 선물을 사고 파는것과 유사해 저가매
입에 고가매도를 통한 차익의 실현을 목적으로 참여할수있다. 특히, 자본시장통합법이 시행됨에 따라 탄소배
출권 등 다양한 파생상품의 개발이 보다 탄력을 받을 것으로전망되며, 배출권의 특성상 선물거래도 활성화될
것으로 보인다.
하지만 탄소배출권 본연의 취지가 금융파생상품보다는 온실가스감축을 위한 규제적수단이라는점을 인식할 필
요가 있다. 이러한 점에서EU는 전문적인 탄소배출권거래시장을 따로 개설하거나 전력거래소가 거래의 중추적
기능을 맡도록하고있다. 배출권 거래시장은 배출권 실수요자 중심으로 편성되는것이 바람직하다는 인식이 있
기 때문이다.
최근 미국월스트리트와 우리나라의 키코파생상품에서 경험했듯이 파생상품의 관리에는 금융당국의 엄격한 모
니터링과 불공정거래, 비대칭정보에 관한 관리, 감독기능이 강화돼야한다는 교훈을 배웠다. 탄소배출권이 파생
상품의 투기적 열풍으로 기업에 과도한 재정적부담이 되지않으며, 또 그 부담이 소비자에게 전가되는일을 예방
하기 위해서는 국내에서도 탄소배출권은 향후 실수요자위주로 거래되도록 제도가 설계돼야 할 것이다.
Tradable Pollution Permits
Recall: Acme, US Electric each emit 40 tons SO2, total
of 80 tons.
Goal: reduce emissions 25% (to 60 tons/month)
Suppose cost of reducing emissions is
$100/ton for Acme, $200/ton for US Electric.
If regulation requires each firm to reduce 10 tons,
cost to Acme: (10 tons) x ($100/ton) = $1,000
cost to USE: (10 tons) x ($200/ton) = $2,000
total cost of achieving goal = $3,000
Tradable Pollution Permits
Alternative:
issue 60 permits, each allows its bearer one ton of
SO2 emissions (so total emissions = 60 tons)
give 30 permits to each firm
establish market for trading permits
Each firm can choose among these options:
1. emit 30 tons of SO2, using all its permits
2. Trade the permit

emit < 30 tons, sell unused permits

buy additional permits so it can emit > 30 tons
Tradable Pollution Permits
Suppose market price of permit =
$150
One possible equilibrium:
Acme
 spends $2,000 to cut emissions by 20
tons
 has 10 unused permits, sells them for
$1,500
 net cost to Acme: $500
US Electric
 emissions remain at 40 tons
 buys 10 permits from Acme for $1,500
 net cost to USE: $1,500
Total cost of achieving goal: $2,000
Tradable Pollution Permits
A system of tradable pollution permits achieves goal at lower cost than
regulation.
 Firms with low cost of reducing pollution
sell whatever permits they can.
 Firms with high cost of reducing pollution
buy permits.
Result: Pollution reduction is concentrated among those firms with lowest
costs.
When policymakers do not know the position of this demand curve, the
permits system achieves pollution reduction targets more precisely.
Some politicians, many environmentalists argue that no one should be able
to “buy” the right to pollute, cannot put a price on the environment.
However, people face tradeoffs.
The value of clean air & water must be compared to their cost.
The market-based approach reduces the cost of environmental protection,
so it should increase the public’s demand for a clean environment.
Private Solutions to Externalities
Types of private solutions:
moral codes and social sanctions,
e.g., the “Golden Rule”
charities, e.g., the Sierra Club
contracts between market participants and the
affected bystanders
The Coase theorem:
If private parties can bargain without cost over
the allocation of resources, they can solve the
externalities problem on their own.
Coase Theorem (시장의 자발적 해결)
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
The Coase Theorem: An Example
Dick owns a dog named Spot.
Negative externality:
Spot’s barking disturbs Jane,
Dick’s neighbor.
The socially efficient outcome
maximizes Dick’s + Jane’s well-being.
If Dick values having Spot more
than Jane values peace & quiet,
the dog should stay.
See Spot bark.
Coase theorem: The private market will reach the
efficient outcome on its own…
The Coase Theorem: An Example
CASE 1:
Dick has the right to keep Spot.
Benefit to Dick of having Spot = $500
Cost to Jane of Spot’s barking = $800
Socially efficient outcome:
Spot goes bye-bye.
Private outcome:
Jane pays Dick $600 to get rid of Spot,
both Jane and Dick are better off.
Private outcome = efficient outcome.
The Coase Theorem: An Example
CASE 2:
Dick has the right to keep Spot.
Benefit to Dick of having Spot = $1000
Cost to Jane of Spot’s barking = $800
Socially efficient outcome:
See Spot stay.
Private outcome:
Jane not willing to pay more than $800,
Dick not willing to accept less than $1000,
so Spot stays.
Private outcome = efficient outcome.
The Coase Theorem: An Example
CASE 3:
Benefit to Dick of having Spot = $500
Cost to Jane of Spot’s barking = $800
But Jane has the legal right to peace & quiet.
Socially efficient outcome: Dick keeps Spot.
Private outcome:
Dick pays Jane $600 to put up with Spot’s barking.
Private outcome = efficient outcome.
The private market achieves the efficient outcome
regardless of the initial distribution of rights.
Coase Theorem (사례1)
polluter
Property right given
to suffer
Property right given
to polluter
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
Coase Theorem (사례2)
polluter
Property right given
to suffer
Property right given
to polluter
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
Coase Theorem (사례3)
polluter
Property right given
to suffer
Property right given
to polluter
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
Coase Theorem (사례4)
polluter
Property right given
to suffer
Property right given
to polluter
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
Coase Theorem (사례5)
polluter
Property right given
to suffer
Property right given
to polluter
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
Coase Theorem (사례6)
(법정 보상금 40원 전제)
polluter
Property right given
to suffer
Property right given
to polluter
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
Why Private Solutions Do Not Always Work
Transaction costs: the costs that parties incur in
the process of agreeing to and following through
on a bargain
Sometimes when a beneficial agreement is
possible, each party may hold out for a better
deal.
Coordination problems & costs when the number
of parties is very large.
Coase Theorem (비판)
Source: 강의자료8-환경문제의 해결방안, 인천대 손양훈, 2009
단기와 장기의 선택
두개의 생산가능곡선이있다. 왼쪽은 현세대의
시장재와 환경의 질 사이의 상충관계를 나타내
는 생산가능곡선이고 오른쪽은 미래세대, 예컨
대 60-80년 후세대의 시장재와 환경의 질 사이
의 상충관계를 나타내는 생산가능곡선이다.
현세대는 미래세대의 의사결정과 관계없이 왼
쪽그림의 어느 점도 선택할 수 있다.
예컨대 현세대가 가능한 한 많은 시장재를 생산
하는 의사결정(e2, c2)을 한다면 자연자원이
고갈되고 환경오염이 발생하여 미래세대의 생
산가능곡선이 아래쪽으로 이동한다.
따라서 미래세대는 현세대와 같은 시장재 생산
을 위해서는 현세대보다 보다 많은 환경의 질
악화에 직면할 수 밖에 없고 반면 현재와 같은
환경질 수준을 유지하기 위해서는 현세대보다
작은 시장재를 공급할 수 밖에 없다.
주의해야 할 점은 미래세대의 생산가능곡선은
현세대의 의사결정 외에도 기술개발 등 다른 요
인에 의한 영향도 함께 받은 다는 점이다. 즉, 기
술진보가 현세대 의사결정에 따른 효과를 능가
한다면, 미래 세대의 생산가능곡선이 반드시 하
향이동 하지는 않을 수도 있다.
하지만 의사결정에 있어서 미래세대의
Welfare가 현 세대의 의사결정에 영향을 받지
않도록 하는 것이 바람직하다는 것이 지속가능
성 (Sustainability)의 기본개념이다.
현세대의 생산결정시 미래세대의 생산가능곡선
이 하향 이동하지 않도록 환경의 질에 대한 피
해가 충분히 고려되어야한다.
환경 쿠즈네츠 곡선
태화강 수영대회와 환경 쿠즈네츠 곡선
美 프로젝트 XL‥기업이 온실가스 줄이면 정부가 세금면제 등 혜택
낭만적인 환경주의는 가라! ‥ `비판적 환경주의자` 등
무역 자유화가 환경을 파괴한다고?
자유무역, 고비마다 역풍 … 그래도 得 > 失
잠깐! - 국제협력, 기술이전, 시장메커니즘에 대해 알아보자
 CDM(Clean Development Mechanism)- 청정개발체제
 JI(Joint Implementation) - 공동이행제도
 ET(Emission Trading)