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Public Policy for Natural Resources

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Public Policy for Natural ResourcesKey ideas  Policy criteria  Incentive-based policies  Command-and-control  Market failure/ government failure  Property rights  Public produc... tion  Subsidies  Centralization/decentralization3 Public Policy and Natural Resources  Public policy: collective actions that people undertake through governmental institutions. These actions shape the terms under which natural resources are used.  Goal of public policy – that actions of economic agents are both individually advantageous and socially efficient.  Objectives of chapter 1. Examine the major types of natural resource policies that are available in a market economy to manage natural resource conservation and utilization. 2. Assess the applicability of these policies in different circumstances.4 Objectives of Public Policy  Criteria for assessing natural resource policies: 1. Economic efficiency 2. Equity 3. Flexibility 4. Enforceability [Show More]

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