# 经济代写|微观经济学代写Microeconomics代考|ECON1001

## 经济代写|微观经济学代写Microeconomics代考|Environmental Externalities

The metaphor is so obvious. Easter Island isolated in the Pacific Ocean-once the island got into trouble, there was no way they could get free. There was no other people from whom they could get help. In the same way that we on Planet Earth, if we ruin our own [world], we won’t be able to get help. (Jared Diamond, 2005)

Oil spills that waste beautiful beaches and wilderness areas are only the tip of the iceberg of environmental externalities. The following are some examples of environmental externalities in production that lead to social costs that are not internalized by market prices. Unregulated air pollution from burning fossil fuels becomes a problem, if no market for pollutants exists. Anthropogenic climate change, as a consequence of greenhouse gas emissions, involves future generations. Negative effects of industrial animal farming include, for example, the overuse of antibiotics that results in bacterial resistance and the contamination of the environment with animal waste. Another problem is the cost of storing nuclear waste from nuclear plants for very long periods of time.

There is a broad consensus among scientists that the rate of species loss is greater now than at any time in human history. In 2007, the German Federal Environment Minister acknowledged that up to $30 \%$ of all species would be extinct by 2010 . The Living Planet Report (World Wildlife Fund, 2014) comes to the conclusion that “the number of mammals, birds, reptiles, amphibians and fish across the globe is, on average, about half the size it was 40 years ago.” If one follows the scientific consensus and assumes that part of the loss in biodiversity is a consequence of the economic system, the question is whether this loss is a result of externalities. Is it possible that mass extinction of species can be Pareto-efficient? This is a tough question, because it requires information about the role of biodiversity in supporting human life on this planet and it relies on assumption about the way humans value biodiversity per se. If one starts with the conservative assumption that biodiversity has only instrumental value in supporting human life and if one admits that intergenerational externalities exist, because current generations do not adequately take the interests of future ones into consideration, then one can make a case for the existence of an externality. This is if one assumes that a more diverse biosphere is more likely to support human life than an impoverished one. This latter conjecture, however, is built on deep uncertainty of the complex role of the biosphere in supporting human life. The deeper problem is that the concept of Pareto efficiency, as seen before, is blind with respect to the distribution of gains from trade, and, more generally, economic welfare. A policy where the present generation has a big “party” and uses up most of the natural resources, leaving a devastated planet where future generations scrap along at the subsistence level, is Pareto-efficient as long as there is no alternative policy to make future generations better off without harming the present ones.

## 经济代写|微观经济学代写Microeconomics代考|Morality and Corporate Social Responsibility

In the realistic case that the institutional structure of a state is imperfect, in the sense that it does not always provide incentives for (Pareto-)efficient behavior, the question is how the people within society do or should deal with these inefficiencies. An example of this is when property rights are imperfectly enforced because of high transaction costs. The better part of everyday transactions is, for example, formally but not materially protected by property rights, because it would be too costly to enforce them. If a customer buys a bottle of orange juice at a kiosk and the retail clerk refuses to give back the change, the opportunity costs of calling the police, verifying the tort (which is difficult, if the retail clerk refuses to confess), etc. are likely prohibitive. Alternatively, on that subject, it is equally unlikely that the retail clerk can do much to prevent the customer from saying thank you and walking away with the bottle of juice without paying for it. Property rights cannot explain the fact that the overwhelming number of these transactions take place smoothly and efficiently.

There must be other mechanisms at work, and I will briefly discuss two of them. First, the interaction may not be singular but rather repeated and, if there is always a probability that the customer and the retail clerk will meet again in the future, it would be rather shortsighted to sacrifice future trades for the (relatively small) present gain. Repeated interactions can, therefore, be used to build up a reputation as a reliable trading partner, which can stabilize transactions, even in situations where formal property rights cannot be protected by the state. Second, the trading partner may have an intrinsic motivation to play fair. There is broad, scientific consensus by now that individuals are, for good evolutionary reasons, not always selfish, but have the ability and also (sometimes) the desire to act morally. The marginal willingness to keep one’s promises, to pay one’s bills, etc., however, depends very much on the perception of the situational context. If people have the feeling that-by and large-society gives everyone his or her fair share, their willingness to cooperate, to act fairly and to voluntarily follow certain moral standards of behavior is much larger than in a situation that is considered unfair from the beginning. Social norms and the intrinsic desire to act morally are then substitutes for formal property-rights enforcement. The more porous the system of property-rights enforcement is, the more important moral behavior becomes.

# 微观经济学代考

## 经济代写|微观经济学代写Microeconomics代考|Morality and Corporate Social Responsibility

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