The Economics of the Environment and Natural

The Economics of the Environment and Natural Resources covers the essential topics students need to understand environmental and resource problems and their possible solutions. Its unique lecture format provides an in-depth exploration of discrete topics, ideal for upper-level undergraduate, graduate, or doctoral study. Each chapter depicts the key theoretical insights, major issues, and real-life problems that motivate the subject. In addition, the chapters feature practical applications and case studies, a list of annotated further reading, and extensive references. The book also includes an extensive glossary of key terms used in the chapters. The bookrs"s broad treatment of the field includes discussions of general theoretical approaches, particular natural resources, the theory and practice of environmental valuation, and larger-scale environmental issues. This book challenges the reader through its rigorous coverage of these topics, while also provoking further exploration.

R. Quentin Grafton is a Senior Fellow at the Centre of Resource and Environmental Studies at the Australian National University and formerly the Director of the Institute of the Environment at the University of Ottawa. He is the author or co-author of four other books (including a Dictionary of Environmental Economics, Science, and Policy) and has published numerous journal articles in the area of environmental and resource environmental economics.

Wiktor Adamowicz is a Canada Research Chair (Environmental Economics) and Professor in the Department of Rural Economy, University of Alberta, Canada. He has published widely in resource and environmental economics and acted as an advisor on numerous environmental valuation and natural resource damage assessment cases.

Diane Dupont is a Professor in the Economics Department, Brock University, Canada. Her research has spanned both natural resources and environmental economics, and she has published in journals such as Environmental and Resource Economics, Marine Resource Economics, Journal of Environmental Economics and Management and American Journal of Agricultural Economics.

Harry Nelson is a Senior Research Associate at the Forest Economics and Policy Analysis Unit of the University of British Columbia. Dr Nelson has written extensively in the area of forestry economics and has acted as a consultant to the Canadian Department of Foreign Affairs and International Trade and Environment Canada, as well as undertaken work for NGOs and American Indian Tribes and Canadian First Nations.

Robert J. Hill is an Associate Professor in the School of Economics at the University of New South Wales in Sydney, Australia. He has published widely in leading economics journals including International Economic Review, Review of Economics and Statistics, European Economic Review, Journal of Public Economics, and Economic Inquiry.Steven Renzetti is a Professor of Economics at Brock University, Canada.

List of Figures

ix

List of Tables

xii

List of Boxes

xiii

Preface

xv

Acknowledgments

xvi

Introduction

1

(4)

Part I Economics of the Environment

5

(88)

Models, Systems, and Dynamics

7

(29)

Property Rights

36

(25)

Economics of Pollution Control

61

(32)

Part II Resource Economics

93

(126)

Bioeconomics of Fisheries

95

(34)

Forestry Economics

129

(32)

Water Economics

161

(32)

Economics of Non-renewable Resources

193

(26)

Part III Environmental Valuation

219

(94)

Environmental Valuation: Introduction and Theory

221

(28)

Environmental Valuation: Stated Preference Methods

249

(28)

Environmental Values Expressed Through Market Behavior

277

(36)

Part IV Global Environment

313

(157)

Growth and the Environment

315

(29)

Environmental Accounting

344

(24)

Trade and Environment

368

(33)

The Global Commons

401

(27)

Biodiversity

428

(28)

Sustaining the Environment

456

(14)

Glossary

470

(21)

Index

491

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The Economics of the Environment and Natural Resources

Summary

Author Biography

Table of Contents

Supplemental Materials