This important book deals with the essential principles of resource and environmental economics, provides applications to contemporary issues in this field, and outlines and assesses policies being used or proposed for managing the use of environmental and natural resources. Covering specific contemporary topics such as agriculture and the environment, water use, greenhouse gas management, biodiversity conservation, tourism and the environment, and environmental economics and health, leading issues in resource and environmental economics are outlined and analyzed in an innovative manner. Institutional economics (both new and traditional) is applied and compared with other approaches such as neoclassical economics, behavioral economics and the Austrian School of Economics. This heterogeneous, multi-perspective approach enables problems to be considered from several different angles, thus enhancing the reader's comprehension of the subject matter. Furthermore, using minimal technical jargon, the book takes into account aspects of modern economic analysis such as the costs of and constraints on decision-making and the transaction costs involved in policy implementation.
General Issues and Principles: Different Types of Approaches to Environmental and Resource Economics; Economic Failure in Using Resources and the Environment; Property Rights, Laws, Markets and Resource Use; Regulating Natural Resource Use and Pollution Emissions; Economic Valuation of Environmental Spillovers and Natural Resources; Sustainability as an Environmental and Economic Issue; More Specific Topics and Applications: Agriculture, Agricultural Policies and the Environment; Water Management; Biodiversity Conservation; Global Warming, Energy Use and Transboundary Environmental Issues; Tourism and the Environment; Health and Environmental Economics; Recycling and Waste Management.