Classic Papers in Natural Resource Economics [Hardcover]

Classic Papers in Natural Resource Economics brings together a choice selection of some of the most enduring academic writing published in this field in a single volume. The fourteen papers included in this book are grouped into five sections: the intertemporal problem; externalities and market failure; property rights; institutions and public choice; the economics of exhaustible resources; and the economics of renewable resources. Each section represents a major area in natural resource economics. Written by distinguished resource economists, the papers in this volume probe, analyze and illuminate the central issues of the discipline.Preface Acknowledgements Notes on the Contributors Classic Papers in Natural Resource Economics: An Overview; C.Gopalakrishnan PART I: THE INTERTEMPORAL PROBLEM The Social Time Preference Discount Rate in Cost Benefit Analysis; M.S.Feldstein On the Social Rate of Discount; W.F.Baumol Uncertainty and the Evaluation of Public Investment Decisions; K.J.Arrow & R.C.Lind Environment Preservation, Uncertainty and Irreversibility; K.J.Arrow & A.C.Fisher PART II: EXTERNALITIES AND MARKET FAILURE The Problem of Social Cost; R.Coase Externality ; J.Buchanan & W.C.Stubblebine On Divergences Between Social Cost and Private Cost; R.Turvey PART III: PROPERTY RIGHTS, INSTITUTIONS AND PUBLIC CHOICE Toward a Theory of Property Rights; H.Demsetz The Economic Theory of a Common Property Resource: The Fishery; H.S.Gordon Politics, Policy and the Pigovian Margins; J.Buchanan PART IV: THE ECONOMICS OF EXHAUSTIBLE RESOURCES The Economics of Exhaustible Resources; H.Hotelling The Economics of Resources or the Resources of Economics; R.M.Solow PART V: THE ECONOMICS OF RENEWABLE RESOURCES Economics of Production from Natural Resources; V.L.Smith Economics of Forestry in an Evolving Society; P.A.Samuelson Further Readings IndexCHENNAT GOPALAKRISHNAN is Professor of Natural Resource Economics at the University of Hawaii. He has published three books, lãâ