Updated and expanded Resource Economics coverage including:
A new appendix with an extendedfisheries model, and analsysis of Individal Tradeable Quota’s (ITQ’s) and Aquaculture.
A second new appendix featuring non-renewable resource depletion in a Hotelling model.
A more detailed look at environmental accounting and the Precautionary Principle.
An update on trade and the environment, with a focus on the “Chapter 11” provision of NAFTA that allows companies to sue governments if new regulations reduce profits (Chapter 21).
New end-of-chapter problems, including a problem on neoclassical versus ecological approaches to global warming (Chapter 1) and two applications on thevalue of statistical life (Chapters 6 and 10).