First written in 1977, Economics of Natural and Environmental Resources presents a collection of articles written in exploration of the economic, social, and ecological problems peculiar to natural and environmental resources. Whilst focusing on the economic theory of natural resources, the contributions also consider geological, technological, and institutional features of particular resources. Policy implications and considerations are central to the text and although the book was published over thirty years ago, the issues discussed remain relevant to today’s society.
Table of Contents
Part I: Theory of Exhaustible Resources 1. Some Extensions of the Economic Theory of Exhaustible Resources R. Cummings 2. The Theory of Exhaustible Resource Use: A Basic Model N. Vousden 3. An Optimistic Theory of Exhaustible Resources V. Smith 4. The Optimal Depletion of Exhaustible Resources P. Dasgupta and G. Heal Part II: Petroleum and Natural Gas Economics 5. Petroleum Conservation in theory and Practice J. McKie and S. McDDonald 6. Public Policy Problems of the Domestic Crude Oil Industry P. Davidson 7. An Economic Model of Production and Investment for Petroleum Reservoirs R. Kuller and R. Cummings Part III: Biological Resource Economics 8. A Generalized Wickselling Capital Model - An Application to Forestry H. Wan 9. Optimal Utilization and the Control of Fisheries A. Scott 10. Optimization and Suboptimization in Fishery Regulation R. Turvey 11. Optimization and Suboptimization in Fishery Regulation: Comment J. Boyd 12. General Equilibrium with a Replenishable Natural Resource V. Smith 13. Mathematical Models of a Fishery J. Crutchfield and A. Zellner 14. Exploitation of Common-Property Replenishable Natural Resources C. Plourde 15. The Primitive Hunter Culture, Pleistocene Extinction, and the rise of Agriculture V. Smith Part IV: Water Resource Economics 16. Optimal Resource Use Over Time with an Application to Ground Water O. Burt 17. Temporal Allocation of Ground Water O. Burt 18. A Socially Optimal Pricing Policy for a Public Water Agency G. Brown and C. McGuire Part V: General theory of Production from Natural Resources 19. Economics of Production from Natural Resources V. Smith 20. Production and Investment in Natural Resource Industries O. Burt and R. Cummings Part VI: The Environment 21. Production, Consumption and Externalities R. Ayres and A. Kneese 22. Littering, Derelicts and the Pricing System V. Smith 23. Dynamics of Waste Accumulation: Disposal Versus Recycling V. Smith 24. The Optimal Control of Pollution E. Keeler, M. Spence and R. Zeckhauser 25. A Polluted Golden Age W. Brock 26. The Economics of Environmental Preservation: A Theoretical and Empirical Analysis A. Fisher, J. Krutilla and C. Cicchetti 27. Environmental Preservation, Uncertainty, and Irreversibility K. Arrow and A. Fisher 28. Economics of Wilderness Resources V. Smith