The Use of Standards and Prices for Protection of the Environment

  • William J. Baumol
  • Wallace E. Oates


In the Pigouvian tradition, economists have frequently proposed the adoption of a system of unit taxes (or subsidies) to control externalities, where the tax on a particular activity is equal to the marginal social damage it generates. In practice, however, such an approach has rarely proved feasible because of our inability to measure marginal social damage.


Biochemical Oxygen Demand Acceptability Standard Smoke Emission Unit Taxis Waste Emission 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 1.
    Bohm, P.: Pollution, Purification, and the Theory of External Effects. Swedish Journal of Economics 72, no. 2, 153–66, 1970.CrossRefGoogle Scholar
  2. 2.
    Coase, R.: The Problem of Social Cost.Journal of Law and Economics 3, 1–44,1960CrossRefGoogle Scholar
  3. 3.
    Hart, A.: Anticipations, Business Plan ning, and the Cycle. Quarterly Journal of Economics 51, 273–97, Feb. 1937.CrossRefGoogle Scholar
  4. 4.
    Kneese, A. & Bower, B.: Managing Water Quality: Economics, Technology, In stitutions. Baltimore, 1968.Google Scholar
  5. 5.
    Lave, L. & Seskin, E.: Air Pollution and Human Health. Science 21, 723–33 Aug. 1970.CrossRefGoogle Scholar
  6. 6.
    Portes, R.: The Search for Efficiency in the Pretence of Externalities.Unfashionable Economics: Essays in Ho-nor of Lord Balogh (ed. P. Streeten), pp.348–61. London, 1970.Google Scholar
  7. 7.
    Ruff. L.: The Economic Common Sense of Pollution. The Public Interest, Spring 1970, 69–85.Google Scholar

Copyright information

© The Swedish Journal of Economics 1971

Authors and Affiliations

  • William J. Baumol
    • 1
  • Wallace E. Oates
    • 1
  1. 1.Princeton UniversityPrincetonUSA

Personalised recommendations