Public Investment Criteria for Water Oriented Recreation in the Lake Erie Basin

This study was supported in part by the Office of Water Resources Research, U.S. Department of the Interior under Project A-009-0HI0.Item includes a reprint of a journal article: Richard A. Tybout, "Pricing Pollution and Other Negative Externalities", Bell Journal of Economics and Management Science, Vol. 3 (Spring, 1972), pp. 252-266. The results of the research project were originally published in this articleIntroduction -- Economic Criteria -- Recreation Measurement -- Conclusion -- Appendi

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Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/44495/1/10745_2005_Article_BF01880261.pd

Pricing Pollution and Other Negative Externalities

Equilibrium conditions are described for pollution or "externalities of production" treated as substitute products. The results are contrasted with those based on traditionally assumed fixed proportions between product and waste outputs. The "neutrality of bribery or compensation" argument is refuted. With linear homogeneous production functions, compensation leads to exhaustion of product; bribery does not. Only certain selected production functions and conditions can lead to positive aggregate profits in a bribe-paying industry. Requirements are described. The analysis is applied to a number of related issues: the blackmail problem, third party pricing, and public goods aspects.

Pricing of Pollution: Reply

The conditions of internalization to which this note refers were derived by a general equilibrium analysis independent of site rentals, and would not be changed by properly including site rentals.

A System Analysis of the Western Basin of Lake Erie, Report of Research Completed to September 30, 1971

This Research Was Supported in Part by the Office of Water Resources Research, U.S. Department of the Interior Under Projects B-017-0HI0 and B-023-OHIOTwo major subsystems were identified in the original application for the present project: the economic and the ecological, or the on-shore and the in-lake subsystems. This report deals with progress in each of these