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  3. Resource and Environmental Economics
  • Cited by 173
Publisher:
Cambridge University Press
Online publication date:
October 2009
Print publication year:
1981
Online ISBN:
9780511572081
DOI:
https://doi.org/10.1017/CBO9780511572081
Subjects:
Economics, Earth and Environmental Sciences, Environmental Science, Economic Theory, Natural Resource and Environmental Economics
Series:
Cambridge Surveys of Economic Literature
Information

Book description

This book presents the major themes of the economic literature on natural resources and the environment. It is designed to bring the reader, in part with the aid of a unified model of optimal resource use, to the frontiers of the discipline, using only elementary mathematical models. Features special to exhaustible and renewable resources, including the problems posed by market imperfections, are treated as extensions of the basic model. The theoretical discussion is enriched with examples and applications, including a systematic investigation of the behaviour of resource reserves, costs, prices, and substitution possibilities. Substantial attention to environmental, as well as extractive, resources is a distinctive aspect of this book. The author describes methods of estimating the environmental costs of resource development and other projects, and presents some key empirical findings. Policy instruments to protect the environment, such as taxes, subsidies, marketable permits, and direct controls, are carefully analysed from a welfare-theoretic point of view.

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