SOCIAL CHOICE: HOW MUCH ENVIRONMENTAL PROTECTION? C H A P T E R 3 SOCIAL CHOICE: HOW MUCH ENVIRONMENTAL PROTECTION? ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.

at higher levels of material consumption. FIGURE 3.1 Possible set of indifference curves for an individual who values the environment more at higher levels of material consumption. ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.

FIGURE 3.2 Utility possibilities for two-person society. ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.

FIGURE 3.3 An illustration of potential Pareto improvement. ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.

FIGURE 3.4 Social indifference curves. ENVIRONMENTAL ECONOMICS – 2e Charles D. Kolstad Copyright © 2011 by Oxford University Press, Inc.