Resource and Environmental Economics

Front Cover
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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Contents

Introduction
1
the theory
10
Figures
13
TABLES AND FIGURES
34
the theory
75
are resources limits
90
categories
94
demand elasticities
118
preferences for produced goods
134
Environmental pollution
164
the value of an environmental
220
the role
233
References
241
Author index
277
Subject index
283
Copyright

Natural resources and natural
127

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Page 247 - The Determinants of Investment in Petroleum Reserves and Their Implications for Public Policy," Working Paper (University of Massachusetts at Amherst, 1974; processed).
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