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Economic Theory for the Environment

Essays in Honour of Karl-Göran Mäler Edited by Bengt Kriström, Professor of Resource Economics, SLU-Umeå, Sweden, Partha Dasgupta, Frank Ramsey Professor of Economics, University of Cambridge, UK and Karl-Gustaf Löfgren, Professor of Economics, Umeå University, Sweden
Karl-Göran Mäler’s work has been a mainstay of the frontiers of environmental economics for more than three decades. This outstanding book, in his honour, assembles some of the best minds in the economics profession to confront and resolve many of the problems affecting the husbandry of our national environments.
Extent: 360 pp
Hardback Price: $164.00 Web: $147.60
Publication Date: 2002
ISBN: 978 1 84064 887 4
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  • Economics and Finance
  • Environmental Economics
  • Environment
  • Environmental Economics
Karl-Göran Mäler’s work has been a mainstay of the frontiers of environmental economics for more than three decades. This outstanding book, in his honour, assembles some of the best minds in the economics profession to confront and resolve many of the problems affecting the husbandry of our national environments.

This book investigates many of the recent advances in economics, in terms of the management of natural resources and environments. The authors also concentrate on other important issues such as control theory for non-convex economic problems, duopoly theory, game theory, local public finance, patent races and population control. In addition, they investigate the difficulties involved in constructing environmental agreements, and detail the potential benefits of marrying together the disciplines of ecology and economics. As a whole, the book effectively illustrates both the power and limitations of economics to shed light on many of today's pressing environmental issues.

The diverse range of topics and exceptional quality of the authors – including contributions by Nobel Laureates Kenneth J. Arrow and Robert M. Solow – will make this book essential reading for academics and advanced level students of environmental and resource economics, as well as natural scientists with an interest in resource allocation issues.
‘This book is an excellent festschrift in honour of Karl-Göran Mäler and I thoroughly enjoyed reading it. It is a part of the series titled New Horizons in Environmental Economics, edited by Wallace E. Oates and Henk Folmer. Almost all the books in this series represent significant contributions to the field of environmental economics. This book is no exception.’
– Sumeet Gulati, Environmental and Resource Economics

‘The diversity offered in this volume will give it wide market appeal at a number of levels of experience and expertise in the field. . . It is a suitable tribute to the deep and diverse contributions made by Mäler to environmental economics.’
– Jeff Bennett, Economic Analysis and Policy

‘. . . a truly excellent collection which achieves the formidable feat of providing a suitable tribute to the immense contribution which Mäler has made.’
– Ian Bateman, The Economic Journal
Contributors: T. Aronsson, K.J. Arrow, S. Barrett, L. Bergman, W. Brock, P. Chander, P. Dasgupta, A. de Zeeuw, A.C. Fisher, H. Folmer, I.-M. Gren, W.M. Hanemann, G. Heal, P.-O. Johansson, B. Kriström, C.-Z. Li, K.-G. Löfgren, C. Perrings, C.S. Russell, D. Siniscalco, T. Söderqvist, R.M. Solow, D.A. Starrett, H. Tulkens, H. Uzawa, J.-P. van Ypersele, P. von Mouche, S. Willems, A. Xepapadeas, J. Zhao
Contents:

Introduction Bengt Kriström

1 An example of dynamic control of negative stock externalities
Kenneth J. Arrow

2 An optimal R&D for a patent race with uncertain duration
Thomas Aronsson, Per-Olov Johansson and Karl-Gustaf Löfgren

3 The strategy of treaty negotiation: ‘broad but shallow’ versus ‘narrow but deep’
Scott Barrett

4 A CGE analysis of sulfur deposition and Sweden’s ‘green’ net national product
Lars Bergman

5 Biodiversity management under uncertainty: species selection and harvesting rules
William Brock and Anastasios Xepapadeas

6 The Kyoto Protocol: an economic and game-theoretic interpretation
Parkash Chander, Henry Tulkens, Jean-Pascal van Ypersele and Stephane Willems

7 A model of fertility transition
Partha Dasgupta

8 Notes on irreversibility, sustainability and the limits to growth
Anthony C. Fisher and Jinhua Zhao

9 The acid rain game: a formal and mathematically rigorous analysis
Henk Folmer and Pierre von Mouche

10 Bridging ecology and economics: reflections on the role of cost–benefit analysis and the design of interdisciplinary research
Ing-Marie Gren, Clifford S. Russell and Tore Söderqvist

11 Valuing ecosystem services
Geoffrey Heal

12 Hotelling (1925) on depreciation
Bengt Kriström

13 Real versus hypothetical willingness to accept: the Bishop and Heberlein model revisited
Chuan-Zhong Li, Karl-Gustaf Löfgren and W. Michael Hanemann

14 An economic approach to the control of invasive species in aquatic systems
Charles Perrings

15 Global externalities: sovereign states
Domenico Siniscalco

16 What if Jevons had actually liked trees?
Robert M. Solow

17 Mobility and capitalization in local public finance: a reassessment
David A. Starrett

18 The core of the cooperative game associated with oligopoly firms
Hirofumo Uzawa

19 Highlighting the acid rain game
Aart de Zeeuw

Index