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4 - Environmental Economics and the Bioeconomy

from Part II

Published online by Cambridge University Press:  26 October 2023

Piergiuseppe Morone ,
Dalia D'Amato ,
Nicolas Befort  and
Gülşah Yilan
Piergiuseppe Morone
Affiliation:
Unitelma Sapienza
Dalia D'Amato
Affiliation:
Finnish Environment Institute (Suomen Ympäristökeskus - SYKE)
Nicolas Befort
Affiliation:
NEOMA BS
Gülşah Yilan
Affiliation:
Unitelma Sapienza University of Rome
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Summary

Our objective in this chapter is to provide an overview of resource and environmental economics by putting environmental economic theories in the context of bioeconomy, and by outlining the fundamental characteristics of an economics approach to environmental analysis. The analysis develops along three lines: (1) market failures and the environment,; (2) sustainability and intergenerational equity,; (3) optimal management of resources. To this end, the chapter provides a discussion on the economy– environment interdependence, how this concept develops in the context of bioeconomy (including a discussion on the circular use of resources), and which tools can be used to model it.

Keywords

environmental economicsefficiency and market failuresCoase theoremtax and subsidies
Type
Chapter
Information
The Circular Bioeconomy
Theories and Tools for Economists and Sustainability Scientists
 , pp. 59 - 85
Publisher: Cambridge University Press
Print publication year: 2023

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