Economics of the environment: Theory and policy

This book interprets nature and the environment as a scarceresource. It offers a theoretical study of the allocationproblem and describes differentpolicy approaches to theenvironmental problem. The entire spectrum of the allocationissue is studied: the use of the environment in a staticcontext, international and trade aspects of environmentalallocation, regional dimensions and environmental use overtime and under uncertainty. The book incorporates a varietyof economic approaches, including neoclassical analysis, thepublic-goods approach, benefit cost, property-rights ideas, economic policy and public-finance reasoning, internationaltrade theory, regional science, and optimizattion theoryincluding control theory and risk analysis. The differentaspects of environmental allocation are studies in thecontextof a model that is used throughout the book. Incontrast to other books, this book has chapters on theinternational and the regional aspects of environmentalallocation, on environmental use over time, i.e. on theaccumulation of pollutant, and on environmental risks. Thethird edition has been revised and enlarged.