Modeling of Environmental Protection
This chapter is devoted to analytic modeling of the relations between the economy, society, and the environment, with a focus on combating climate change. Section 11.1 describes simple models of these relationships and discusses mitigation and adaptation as two major human responses to environmental damage. Sections 11.2 and 11.3 investigate economic models with optimal investments into mitigation of environmental pollutions. Section 11.4 analyzes optimal investments into mitigation and adaptation against environmental damage. These economic–environmental models are formulated as social planner problems with mitigation and adaptation investments as separate variables. The steady-state analysis of optimal investments leads to essential implications for associated long-term environmental policies.
KeywordsUtility Function Optimal Investment Environmental Adaptation Emission Abatement Abatement Effort
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