Environmental economics and ecological economics: Where they can converge?

Venkatachalam, L.

doi:10.1016/j.ecolecon.2006.05.012

Cited by 72 publications

(52 citation statements)

References 36 publications

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“…Costanza et al's (1997) premise that the 'value of the world's ecosystems and natural capital', for example, has shaped much of the literature regarding the humaneconomy-environment interactions. It can be argued that while both disciplines (environmental and ecological economics) share the common objective of understanding the human-economyenvironment interactions, their approaches are profoundly different (Venkatachalam, 2007). Environmental economists utilise the neoclassical mainstream methodology with its strong focus on efficiency, while ecological economists strive to include broader socio-economic features into the scope of their analyses (Daly and Farley, 2004;Venkatachalam, 2007).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Sustainability exploration and sustainability exploitation: from a literature review towards a conceptual framework

Maletič

Dahlgaard

Dahlgaard‐Park

et al. 2014

Journal of Cleaner Production

142

150

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Theoretical and empirical research often points to a positive relation between corporate sustainability and organisational performance; however, attempts to conceptualise the multi-dimensional nature of sustainability practices are rare in the current literature. Thus, the purpose of this paper is to present a conceptual framework to aid in understanding and explaining the relationship between sustainability practices and organisational performance. The concepts of exploitation and exploration are adopted to distinguish between different types of sustainability practices. The research model is then analysed in terms of different outcomes related to sustainability performance, quality performance and business performance. Based on an interdisciplinary perspective, this paper suggests a new approach for the discussion of corporate sustainability and its implications for the organisational context. The results of the research suggest that the organisation may place a stronger focus on developing new sustainability-centred competencies when it is faced with an uncertain and rapidly changing environment. In contrast, efficiency and responsiveness to various stakeholders expectations and demands might dominate in highly competitive environments. The primary conclusion of this paper is that the alternative relationships between sustainability practices (exploitation and exploration) and organisational performance depend on different factors, including environmental uncertainty, competitiveness, long-term orientation and institutional approaches. These arguments indicate that managers in resource-constrained contexts may benefit from focusing on the management of trade-offs between sustainability exploration and sustainability exploitation demands; however, for long-term success, the simultaneous pursuit of exploration and exploitation is both desirable and necessary

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Section: Theoretical Backgroundmentioning

confidence: 99%

Sustainability exploration and sustainability exploitation: from a literature review towards a conceptual framework

Maletič

Dahlgaard

Dahlgaard‐Park

et al. 2014

Journal of Cleaner Production

142

150

View full text Add to dashboard Cite

show abstract

“…The importance of environmental economics lies in clearly defined and reliable methods, such as green accounting, cost-benefit analysis and similar methodologies. In the 1980s it became clear that focusing on economic methodologies alone would not offset the ever more serious and extensive negative manifestations in the environment (Ruth, 2006;Venkatachalam, 2006). Conversely, as early as 1898, Alfred Marshal formulated a challenge to economics, he put forth the idea that economics should be governed by biological rather than mechanical principles (Marshall, 1898;Penrose, 1952;Brinley, 1991).…”

Section: Environmental Economicsmentioning

confidence: 95%

Challenges and prospects of valuation – cruise ship pollution case

Carić

2016

Journal of Cleaner Production

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“…Indeed, while ecological economics departs from central tenets of neoclassical economics, it does not provide a homogeneous theoretical and methodological framework to replace it, but rather a host of diverse approaches which differ in their distance to neoclassic theory-based environmental economics analyses (Faber 2008: 4;Venkatachalam 2007;Røpke 2005). To a certain degree, this corresponds to ecological economics' mission statement, that the intricacies of human-environment interactions require an inter-and even transdisciplinary approach, which draws on theories from various social and natural science disciplines depending on the problems analysed (Costanza et al 1991: 3;Faber 2008;Baumgärtner et al 2008).…”

Section: Sustainability and Uncertainty: Contributions From Ecologicamentioning

confidence: 99%

Implications of Economic Theory for Bioenergy Policy Design

Purkus

2016

Concepts and Instruments for a Rational Bioenergy Policy

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With the allocative and regulative challenges of bioenergy use outlined (see Chap. 2), this chapter's task is to develop the theoretical basis for a rational bioenergy policy. As discussed in Sect. 2.1.3, the defining characteristic of such a rational bioenergy policy is that it strives for efficiency and sustainability under the constraints imposed by multiple interacting market failures and various sources of government failures (cf. Fig. 2.2), while acknowledging the likely non-optimality of outcomes.Given the various allocative and regulative problems involved in bioenergy policy making, there is no single theoretical approach which covers all relevant aspects. Rather, a number of theories promise important insights. The following economic theories have been identified as especially relevant to the problems of bioenergy policy making:1. The neoclassical economics approach to target setting and instrument choice under perfect information as well as under uncertainty (Sect. 3.1); 2. The theory of second-best, which focuses on the handling of multiple market failures and other constraints on optimal policy design (Sect. 3.2); 3. Information economics contributions which examine the implications of incomplete knowledge for policy decision making (Sect. 3.3); 4. The economic theory of order, which examines more closely the constitutive lack of knowledge that policy makers face, drawing implications for the adequacy of structural or process policy measures (Sect. 3.4); 5. New institutional economics, which explores the consequences of imperfect information, positive transaction costs and self-interested policy makerswithin this theory family, the approaches of transaction cost economics, principal-agent theory, the theory of institutional change, and public choice theory appear particularly relevant (Sect. 3.5); 6. Ecological economics, which focuses on the design of sustainable economics systems while taking potential sources of government failure into account (Sect. 3.6).

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Environmental economics and ecological economics: Where they can converge?

Cited by 72 publications

References 36 publications

Sustainability exploration and sustainability exploitation: from a literature review towards a conceptual framework

Sustainability exploration and sustainability exploitation: from a literature review towards a conceptual framework

Challenges and prospects of valuation – cruise ship pollution case

Implications of Economic Theory for Bioenergy Policy Design

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