Students

Study Quiz

Excel Models

Excel-based simulations that let you numerically solve Resource Extraction problems.

Created by Arthur Caplan and John Gilbert of Utah State University, these models allow you to explore the effects of changes in the N-Period Constant-Cost Case, the Transition to a Renewable Substitute, and Increasing Marginal Extraction Cost cases (Chapter 6).

(Note: You will need to enable macros and use the “Solver Add-in” to view the models. Refer to the “How-to” manual above for more information.)

Additional References

Chapter 1

Ascher, William. (1999). Why Governments Waste Natural Resources: Policy Failures in Developing Countries. Baltimore, MD: The Johns Hopkins University Press.
Banzhaf, Spencer, Lala Ma, and Christopher Timmins. (2019). “Environmental Justice: The Economics of Race, Place and Pollution,” Journal of Economic Perspectives 33(1): 1285–208.
Barrett, Scott. (2016). “Collective Action to Avoid Catastrophe: When Countries Succeed, When They Fail, and Why?” Global Policy: Special Issue: Too Big to Handle: Interdisciplinary Perspectives on the Question of Why Societies Ignore Looming Disasters (May): 45–55.
Batabyal, A. A., & Nijkamp, P. (2011). Introduction to research tools in natural resource and environmental economics. In A. A. Batabyal & P. Nijkamp (Eds.), Research Tools in Natural Resource and Environmental Economics. Hackensack, NJ: World Scientific Publishing, 3–26.
Brander, James A., & Scott Taylor, M. (1998). “The simple economics of Easter Island: A Ricardo–Malthus model of renewable resource use,” The American Economic Review 88(1), 119–138.
Committee on the Science of Climate Change, National Research Council. (2001). Climate Change Science: An Analysis of Some Key Questions. Washington, D.C.: National Academy Press.
Diamond, Jared. (2005). Collapse: How Societies Choose to Fail or Succeed. New York: Viking.
Intergovernmental Panel on Climate Change (IPCC). (2007). Climate Change 2007: The Physical Basis. Contribution of Working Group I to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change. Cambridge: Cambridge University Press.
Intergovernmental Panel on Climate Change (IPCC). (2013). Summary for policymakers of the IPCC Working Group I assessment report, Climate Change 2013: The Physical Science Basis. Available at: www.ipcc.ch/report/ar5/wg1/#.UmVREJRASi9 (accessed October 21, 2013).
IPCC, 2021: Climate Change 2021: The Physical Science Basis. Contribution of Working Group I to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change [Masson-Delmotte, V., P. Zhai, A. Pirani, S.L. Connors, C. Péan, S. Berger, N. Caud, Y. Chen, L. Goldfarb, M.I. Gomis, M. Huang, K. Leitzell, E. Lonnoy, J.B.R. Matthews, T.K. Maycock, T. Waterfield, O. Yelekçi, R. Yu, and B. Zhou (eds.)]. Cambridge University Press.
Jacquemet, Nicholas and Olivier L'Haridon. (2019). Experimental Economics: Method and Applications (New York: Cambridge University Press).
Kahneman, Daniel, Olivier Sibony, and Cass R. Sunstein. (2021). Noise: A Flaw in Human Judgment (New York: Little Brown Spark).
Levin, S.A., Anderies, J.M., Adger, N. et al. (2021). “Governance in the Face of Extreme Events: Lessons from Evolutionary Processes for Structuring Interventions, and the Need to Go Beyond,” Ecosystems https://doi.org/10.1007/s10021-021-00680-2.
List, John A. (2022). The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale (New York: Currency).
Lomborg, Bjørn. (2001). The Skeptical Environmentalist: Measuring the Real State of the World. Cambridge: Cambridge University Press.
Managi, Shunsuke (Ed.) (2015). The Routledge Handbook of Environmental Economics in Asia. New York: Routledge.
National Research Council. (2010). Advancing the Science of Climate Change in America's Climate Choices: Panel on Advancing the Science of Climate Change. Washington, D.C.: The National Academies Press.
Noussair, Charles N. & van Soest, Daan P. (2014). “Economic experiments and environmental policy,” Annual Review of Resource Economics 6: 319–337.
Portney, P. R. (1998). “The growing role of economics in environmental decisionmaking,” Environment 40(2): 14.
Reisner, Mark. (2003), A Dangerous Place: California's Unsettling Fate. New York: Penguin Books.
Repetto, R. (Ed.) (2006), Punctuated Equilibrium and the Dynamics of U.S. Environmental Policy. New Haven, CT: Yale University Press.
Sabloff, Jeremy A. (1971). The collapse of classic Maya civilization. In John Harte & Robert H. Socolow (Eds.), Patient Earth. New York: Holt, Rinehart and Winston, 16–27.
Segerson, Kathlee. (2019). “On the Role of Theory in Contemporary Environmental and Natural Resource Economics,” Review of Environmental Economics and Policy 13(1): 124–29.
Spash, Clive. (2017). The Routledge Handbook of Ecological Economics. New York: Routledge.
Stavins, R. (Ed.). (2019). Economics of the Environment: Selected Readings, 7th ed. Cheltenham, UK: Edward Elgar Publishing Ltd. 
Thaler, Richard H. (2015). Misbehaving: The Making of Behavioral Economics (New York: W.W. Norton & Company).
The Worldwatch Institute. (2004). The State of the World 2004. New York: W. W. Norton.
Webster, David, Freter, Anncorinne, & Golin, Nancy. (2000). Copán: The Rise and Fall of an Ancient Maya Kingdom. Fort Worth, TX: Harcourt Brace Publishers.
World Bank. (2016). High and Dry: Climate Change, Water, and the Economy. Washington, D.C.

Historically Significant References

Krutilla, John. (1968). “Conservation reconsidered,” The American Economic Review 57: 777–786.
Lovins, A., Lovins, L. H., & and Hawken, P. (1999). “A road map for natural capitalism,” Harvard Business Review 145–158.
World Commission on Environment and Development. (1987). Our Common Future. Oxford: Oxford University Press.

Additional References

Chapter 2

Coase, Ronald. (1960). “The problem of social cost,” The Journal of Law and Economics 3: 1–44.
Golan, Elise, Kuchler, Fred, Mitchell, Lorraine, et al. (2001). “The economics of food labelling,” Journal of Consumer Policy 24 (2), 117–184.
Lueck, Dean. (June 2002). “The extermination and conservation of the American bison,” The Journal of Legal Studies 31 (2), S609–S652.
Ratnieks, Francis L. W & Carreck, Norman L. (January 2010). “Clarity on honeybee collapse?” Science327 (5962), 152–153.

Historically Significant References

Anderson, Terry L., & Hill, P. J. (1975). “The evolution of property rights: A study of the American West,” The Journal of Law and Economics 18:163–179.
Anderson, Terry L., & Simmons, Randy T. (Eds.). (1993). The Political Economy of Customs and Culture: Informal Solutions to the Commons Problem. Lanham, MD: Rowman & Littlefield Publishers.
Bromley, Daniel W. (1989). Economic Interests and Institutions: The Conceptual Foundations of Public Policy. Oxford: Basil Blackwell.
Coase, Ronald. (1960). “The problem of social cost,” The Journal of Law and Economics 3: 1–44.
Demsetz, Harold. (1967). “Toward a theory of property rights,” American Economic Review 57: 347–359.
Gordon, H. Scott. (1954). The economic theory of a common property resource: The fishery,” Journal of Political Economy 62: 124–142.
Ostrom, Elinor. (1990). Governing the Commons: The Evolution of Institutions for Collective Action. Cambridge: Cambridge University Press.

Additional References

Chapter 3

Harrington, W., Morgenstern, R. D., & Nelson, P. (1999). “Predicting the costs of environmental regulations: How accurate are regulators' estimates?” Environment 41(7): 10–14, 40–44.
Knight, Frank H. (1921). Risk, Uncertainty and Profit. University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship, Available at SSRN: https://ssrn.com/abstract=1496192.
Loomis, John B. (2011). “Incorporating distributional issues into benefit cost analysis: Why, how and two empirical examples using non-market valuation,” Journal of Benefit-Cost Analysis 2(1), Article 5. Available at: www.bepress.com/jbca/vol2/iss1/5
Muhammad Suhail Rizwan, Ghufran Ahmad, Dawood Ashraf. (2020). “Systemic risk: The impact of COVID-19,” Finance Research Letters 36: 1018682 ISSN 1544-6123, https://doi.org/10.10.16/j.frl.2020.101682;
Choudry, Barnali. (2020). “Climate Change as Systemic Risk” Available on the web at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3704962 (posted on October 20, 2020).
Phillips, C.A., Caldas, A., Cleetus, R. et al. (2020). “Compound climate risks in the COVID-19 pandemic,” Nat. Clim. Chang. 10: 586–588. https://doi.org/10.1038/s41558-020-0804-2
Robinson, L.A., Hammitt, J.K. and Zeckhauser, R.J. (2020). “Attention to distribution in US regulatory analyses,” Review of Environmental Economics and Policy.
Stafford, S.L. (2021). “Emphasizing Distributional Impacts in Teaching Solutions to Market Failures,” International Review of Environmental and Resource Economics, 15(3): 175-202.
US EPA, National Center for Environmental Economics Office of Policy. (December 2010). Guidelines for Preparing Economic Analyses (updated May 2014). Washington, D.C.: EPA.
Wagner, G., Anthoff, D., Cropper, M., Dietz, S., Gillingham, K.T., Groom, B., Kelleher, J.P., Moore, F.C. and Stock, J.H. (2021). Eight priorities for calculating the social cost of carbon.

Historically Significant References

Arrow, K. J., & Fisher, A. C. (1974). “Preservation, uncertainty, and irreversibility,” Quarterly Journal of Economics 87: 312–319.
Arrow, Kenneth J., & Lind, Robert C. (1970). “Uncertainty and the evaluation of public investment decisions,” American Economic Review 60(3): 364–378.
Haveman, Robert H. (1972). The Economic Performance of Public Investments: An Ex Post Evaluation of Water Resources Investments. Baltimore, MD: Johns Hopkins Press for Resources for the Future.
Weitzman, M. L. (1994). “On the environmental discount rate,” Journal of Environmental Economics and Management 26(2): 200–209.

Additional References

Chapter 4

Acharya, Gayatri and Lynne Lewis Bennett. (2001). "Valuing Open Space and Land Use Patterns in Urban Watersheds," Journal of Real Estate Finance and Economics 22(213): 221–237.
Ackerman, Frank, Lisa Heinzerling, and Rachel Massey. (2004). "Applying Cost-Benefit to a Past Decision: Was Environmental Protection Ever a Good Idea?" Administrative Law Journal 57(1).
Aldy, Joseph E. and W. Kip Viscusi. (2008). “Adjusting the Value of a Statistical Life for Age and Cohort Effects,” Review of Economics and Statistics 90(3): 573–581.
Ando, A. W. (2022). “Equity and Cost-Effectiveness in Valuation and Action Planning to Preserve Biodiversity,” Environmental and Resource Economics, 1–17.
Banzhaf, H.S. (2021). The Value of Statistical Life: A Meta-analysis of Meta-analyses. NBER Working Paper 29185. August.
Bateman I.J., Jones A.P., Lovett A.A., Lake I., Day B.H. (2002). “Applying geographical information systems (GIS) to environmental and resource economics,” Environmental and Resource Economics22(1–2): 219–269. doi:10.1023/A:1015575214292
Bishop R.C., Boyle K.J., Carson R.T., Chapman D., Hanemann W.M., Kanninen B., Kopp R.J., Krosnick J.A., List J., Meade N., Paterson R., Presser S., Smith V.K., Tourangeau R., Welsh M., Wooldridge J.M., DeBell M., Donovan C., Konopka M., Scherer N. (2017). “Putting a value on injuries to natural assets: The BP oil spill,” Science 356(6335): 253–254. DOI: 10.1126/science.aam8124.
Bishop, K.C., Kuminoff, N.V., Banzhaf, H.S., Boyle, K.J., von Gravenitz, K., Pope, J.C., Smith, V.K. and Timmins, C.D. (2020). “Best practices for using hedonic property value models to measure willingness to pay for environmental quality,” Review of Environmental Economics and Policy.
Bockstael, N. E. (1996). "Economics and Ecological Modeling: The Importance of a Spatial Perspective," American Journal of Agricultural Economics 1168–1180.
Bohlen, C. and Lewis, L.Y. (2009). “Examining the economic impacts of hydropower dams on property values using GIS,” Journal of Environmental Management, Volume 90, Supplement 3, S258scie9.
Boyle, Kevin, Lynne Lewis, Jaren Pope and Jeffrey Zabel. (2012). “Valuation in a Bubble: Hedonic Modeling Pre- and Post-Housing Market Collapse,” AERE Newsletter, Association of Environmental and Resource Economists (AERE) 32(2).
Boyle, Kevin J., Thomas P. Holmes, Mario F. Teisl, and Brian Roe. (2001). "A Comparison of Conjoint Analysis Response Formats," American Journal of Agricultural Economics 83(2): 441–454.
Brouwer, R. (2000). “Environmental Value Transfer: state of the art and future prospects,” Ecological Economics 32(1): 137–152.
Cameron, Trudy. (2010). “Euthanizing the Value of a Statistical Life,” Review of Environmental Economics and Policy 4(2), 161–178.
Carson, Richard T. (2011). Contingent Valuation: A Comprehensive Bibliography and History. Edward Elgar: Cheltenham.
Carson, Richard T., et al. (1994). A Bibliography of Contingent Valuation Studies. La Jolla: Natural Resource Damage Assessment, Inc.
Champ, P.A. K.J. Boyle, T. C. Brown. (2017). A Primer on Nonmarket Valuation. 2nd Edition. Springer.
Clapp, John, Mauricio Rodriguez and Grant Thrall. (1997). “How GIS Can Put Urban Economic Analysis on the Map,” Journal of Housing Economics, 6, 368–386.
Dickie, Mark. (2016). Averting Behavior Methods, Chapter 8 in A Primer on Nonmarket Valuation. 2nd Edition. Champ, Patricia A., Boyle, Kevin J., & Brown, T. C. (Eds). Springer.
Ehmke, M.D., J.L. Lusk and J.A. List. (2008). “Is Hypothetical Bias a Universal Phenomenon? A Multinational Investigation,” Land Economics 84(3): 489–500.
Evans, M.F. and Taylor, L.O. (2020). “Using revealed preference methods to estimate the value of reduced mortality risk: Best practice recommendations for the hedonic wage model,” Review of Environmental Economics and Policy.
Florax, R. J. G. M., P. Nijkamp and K. G. Willis (eds.) (2002). Comparative Environmental Economic Assessment. Edward Elgar: Cheltenham.
Freeman, A. Myrick, III. (2003). The Measurement of Environmental and Resource Values: Theory and Methods. Washington, DC: Resources of the Future, Inc.
Freeman, A. Myrick III, J. Herriges and C. Kling. (2014). The Measurement of Environmental and Resource Values, 3rd ed. Washington, D.C.: Resources for the Future.
Geoghegan, J., L. A. Wainger, and N. E. Bockstael. (1997). "Spatial Landscape Indices in a Hedonic Framework: An Ecological Economics Analysis Using GIS," Ecological Economics 23: 251-264.
Gopalakrishnan, Sathya and Klaiber, H. Allen. (2012). Is the Shale Boom a Bust for Nearby Residents? Evidence from Housing Values in Pennsylvania. Available at SSRN: http://ssrn.com/abstract=2117932 or http://dx.doi.org/10.2139/ssrn.2117932
Haab, T., L. Lewis and J. Whitehead. (2020). “State of the Art of Contingent Valuation,” Oxford Research Encyclopedia of Environmental Science.” DOI: 10.1093/acrefore/9780199389414.013.450
Hammitt, James K. and Lisa A. Robinson. (2011). "The Income Elasticity of the Value per Statistical Life: Transferring Estimates between High and Low Income Populations,” Journal of Benefit-Cost Analysis 2(1).
Hanemann, W. Michael. (1994). "Valuing the Environment Through Contingent Valuation," Journal of Economic Perspectives 8(4): 19-43.
Holmes, Thomas P., and Wiktor L. Adamowicz. (2003). “Attribute-Based Methods." In A Primer on Nonmarket Valuation, edited by Ian Bateman. New York: Kluwer Academic Publishers.
Johnston, Robert, J., Elena Y. Besedina and Matthew H. Ranson. (2006). “Characterizing the effects of valuation methodology in function-based benefits transfer,” Ecological Economics 60(2) 407cedi
Johnston, R. J., Boyle, K. J., Adamowicz, W., Bennett, J., Brouwer, R., Cameron, T. A., ... & Tourangeau, R. (2017). “Contemporary guidance for stated preference studies,” Journal of the Association of Environmental and Resource Economists, 4(2), 319–405.
Johnston, Robert and Randall S. Rosenberger. (2010). “Methods, Trends and Controversies in Contemporary Benefits Transfer,” Journal of Economic Surveys, 24(3): 479–510.
Labao, Rex, Hermina Francisco, Dieldre Harder and Florence Ivy Santos. (2008). “Do Colored Photographs Affect Willingness to Pay Responses for Endangered Species Conservation,” Environ. Resource Econ 40: 251–264.
Landry, C. A. Lange, J.A. List, M.K. Price and N.G Rupp. (2006). “Toward an Understanding of the Economics of Charity: Evidence from a Field Experiment,” Quarterly Journal of Economics, 747–782.
Landry, C. E. and C. H. Mires. (2018 draft). Economic Value of Maritime Cultural Heritage: Using Choice Experimentation to Evaluate Preferences for the Graveyard of the Atlantic Maritime Park. University of Georgia.
Lewis, L. and Landry, C. (2017). “River restoration and hedonic property value analyses: Guidance for effective benefit transfer,” Water Resources and Economics 17: 20–31.
Loomis, J. B. (1996).  "Measuring The Economic Benefits of Removing Dams and Restoring the Elwha River: Results of a Contingent Valuation Survey," Water Resources Research 32(2): 441–447.
Michaels, R. G., and V. K. Smith. (1990). "Market Segmentation and Valuing Amenities with Hedonic Models: The Case of Hazardous Waste Sites," Journal of Urban Economics 28: 223–242.
Mihaescu, Oana; vom Hofe, Rainer. (2012). “The Impact of Brownfields on Residential Property Values in Cincinnati, Ohio: A Spatial Hedonic Approach,” Journal of Regional Analysis and Policy 42(3): 223–36.
Mitchell, Robert C., and Richard T. Carson. (1989). Using Surveys to Value Public Goods: The Contingent Valuation Method. Washington, D.C.: Resources for the Future.
Mitchell, Robert Cameron. (2002). "On Designing Constructed Markets in Valuation Surveys," Environmental and Resource Economics 22: 297–321.

Mrozek, Janusz and Laura O. Taylor. (2002). “What Determines the Value of Life? A Meta-Analysis,” Journal of Policy Analysis and Management 21(2): 253–270.
Palmquist, R. B., F. M. Roka, and T. Vukina. (1997), "Hog Operations, Environmental Effects and Residential Values," Land Economics 73(11): 114–124.
Parsons, George. (2003). "The Travel Cost Model." In A Primer on Nonmarket Valuation, edited by Ian Bateman. Kluwer Academic Publishers.
George Parsons and Martin D. Heintzelman (2022). "The Effect of Wind Power Projects on Property Values: A Decade (2011–2021) of Hedonic Price Analysis", International Review of Environmental and Resource Economics 16(1): 93–170. http://dx.doi.org/10.1561/101.00000132
Richardson, L. and Lewis, L. (2021). “Getting to Know You: Individual Animals, Wildlife Webcams, and Willingness to Pay for Brown Bear Preservation,” American Journal of Agricultural Economics.
Smith, V. Kerry & Pattanayak, Subhrendu K. & Van Houtven, George L. (2006). "Structural benefit transfer: An example using VSL estimates," Ecological Economics, Elsevier 60(2): 361–371.
Smith, V.K., G Van Houtven, SK Pattanayak. (2002). “Benefit transfer via preference calibration: Prudential algebra for policy,” Land Economics 78(1): 132–152
Taylor, Laura O. (2003). "The Hedonic Method," In A Primer on Nonmarket Valuation, edited by Ian Bateman. New York: Kluwer Academic Publishers.
Viscuzi, W. Kip. (1996). “Economic Foundations of the Current Regulatory Reform Efforts,” Journal of Economic Perspectives 10(3) (Summer): 119–134.
Viscusi, W. Kip. (2008). "How to Value a Life," Journal of Economic Finance 32:  311–323.
Walsh, P. J., D. Guignet, and P Booth. (2022). National Water Quality Values in New Zealand: Policy-Relevant Stated Preference Estimates. NCEE Working Paper 22-02. USEPA. May.
Whittington, Dale. (2002). "Improving the Performance of Contingent Valuation Studies in Developing Countries," Environment and Resource Economics 22: 323–367.

Historically Significant References

Chapter 5

Hartwick, J. M. (1977). “Intergenerational equity and the investing of rents from exhaustible resources,” American Economic Review 67: 972–974.
Rawls, John. (1971). A Theory of Justice. Cambridge, MA: Harvard University Press.
Solow, R. (1986). “On the intergenerational allocation of natural resources,” Scandinavian Journal of Natural Resources 88(1): 141–149.

Historically Significant References

Chapter 6

Devarajan, Shantayanan, & Fisher, Anthony C. (1981). “Hotelling's ‘Economics of Exhaustible Resources’: Fifty years later,” Journal of Economic Literature 19: 65–73.
Herfindahl, O. C. (1967). Depletion and economic theory. In M. Gaffney (Ed.), Extractive Resources and Taxation Proceedings. Madison: University of Wisconsin Press, 63–90.

Additional References

Chapter 7

Bovenberg, A. L., & Goulder, L. H. (1996). “Optimal environmental taxation in the presence of other taxes: General-equilibrium analyses,” American Economic Review 86(4): 985–1000.
Goulder, L. H. (1997). Environmental taxation in a second-best world. In T. Tietenberg and H. Folmer (Eds.). The International Yearbook of Environmental and Resource Economics 1997/1998. Cheltenham, UK: Edward Elgar, 28–54.
Keohane, R. O. (2009). “Cap and trade, rehabilitated: Using tradable permits to control U.S. greenhouse gases,” Review of Environmental Economics and Policy, 3(1), 42–62.
Nordhaus, W. D. (2008). A Question of Balance: Weighing the Options of Global Warming Policies. New Haven, CT: Yale University Press.
Parry, I. W. H. (1995). Pollution taxes and revenue recycling. Journal of Environmental Economics and Management 29(3, Part 2): S64–S77.
Parry, Ian W. H., & Bento, Antonio M. (January 2009). “Tax deductions, environmental policy, and the ‘double dividend’ hypothesis,” Journal of Environmental Economics and Management 39(1): 69–96.
Raymond, L. (2003). Private Rights in Public Resources: Equity and Property Allocation in Market-Based Environmental Policy. Washington, D.C.: Resources for the Future.

Historically Significant References

Dales, J. H. (1968). Pollution, Property, and Prices. Toronto: Toronto University Press.
Weitzman, M. (1974). “Prices vs. quantities,” Review of Economic Studies 41: 447–491.

Additional References

Chapter 8

Anderson, Robert, & Lohof, Andrew. (1997). The United States Experience with Economic Incentives in Environmental Pollution Control Policy. Washington, D.C.: Environmental Law Institute.
Atkinson, Scott E. (1983). “Marketable pollution permits and acid rain externalities,” Canadian Journal of Economics 16: 704–722.
Atkinson, Scott E., & Lewis, Donald H. (1974). “A cost-effective analysis of alternative air quality control strategies,” Journal of Environmental Economics and Management 1: 237–250.
Azevedo, Inês L., Nicholas Z. Muller and Peter Tschofen (2019). “Fine particulate matter damages and value added in the US economy,” PNAS 116(40): https://doi.org/10.1073/pnas.1905030116
Blackman, A. (2000). “Informal sector pollution control: What policy options do we have? World Development 28(12): 2067–2082.
Bolotin, Frederic N. (Ed.). (1989). International Public Policy Sourcebook. 2, Education and Environment. Westport, CT: Greenwood Press.
Clay, Karen, Nicholas Z. Muller, and Xiao Wang (2021) ”Recent Increases in Air Pollution: Evidence and Implications for Mortality,” Review of Environmental Economics and Policy 15(1): 154-162.
Dechezleprêtre, A., N. Rivers and B. Stadler. (2019). "The economic cost of air pollution: Evidence from Europe", OECD Economics Department Working Papers, No. 1584, OECD Publishing, Paris, https://doi.org/10.1787/56119490-en.
Greenstone, M. (2002). “The impacts of environmental regulations on industrial activity: Evidence from the 1970 and the 1977 Clean Air Act Amendments and the Census of Manufactures,” Journal of Political Economy 110(6): 1175–1219.
Hahn, Robert W. (1984). “Market power and transferable property rights,” Quarterly Journal of Economics 99: 753–765.
Hahn, R. W. (1989). “Economic prescriptions for environmental problems: How the patient followed the doctor's orders,” The Journal of Economic Perspectives 3: 95–114.
Hahn, R. W., & Hester, G. L. (1989). Where did all the markets go? An analysis of EPA's emission trading program. Yale Journal of Regulation 6: 109–153.
Hahn, Robert W., & Noll, Roger G. (1982). Designing a market for tradable emissions permits. In Wesley A. Magat (Ed.), Reform of Environmental Regulation. Cambridge: Ballinger, 119–146.
Haigh, John A., Harrison, David, Jr., & Nichols, Albert L. (August 1983). Benefits assessment and environmental regulation: Case studies of hazardous air pollutants. John F. Kennedy School of Government Energy and Environment Policy Center Discussion Paper E-83-07.
Harrison, David, Jr. (2004). Ex post evaluation of the RECLAIM emissions trading programmes for the Los Angeles air basin. In Organisation for Economic Co-operation and Development (Ed.), Tradable Permits: Policy Evaluation, Design and Reform. Paris: Organisation for Economic Co-operation and Development, 45–69.
Henderson, J. V. (1996). “Effects of air quality regulation,” American Economic Review 86(4): 789–813.
Krupnick, Alan J. (1986). “Costs of alternative policies for the control of NO2 in the Baltimore region,”. Journal of Environmental Economics and Management 13: 189–197.
Levinson, A. (1999). “Grandfather regulations, new source bias, and state air toxics regulations,” Ecological Economics 28(2), 299–311.
List, J. A., & McHone, W. W. (2000). “Measuring the effects of air quality regulations on ‘dirty’ firm births: Evidence from the neo and mature regulatory periods,” Papers in Regional Science 79(2): 177–190.
Maloney, M. T., & Yandle, B. (1984). “Estimation of the cost of air pollution control regulation,” Journal of Environmental Economics and Management 2: 244–263.
McGartland, Albert M. (1984). Marketable permit systems for air pollution control: An empirical study. Ph.D. diss., University of Maryland.
Millock, Katrin, & Sterner, Thomas. (2004). NOx emissions in France and Sweden: Advanced fee schemes versus regulation. In Winston Harrington, Richard D. Morgenstern, & Thomas Sterner (Eds.), Choosing Environmental Policy: Comparing Instruments and Outcomes in the United Sates and Europe. Washington, D.C.: Resources for the Future, 117–132.
Oates, Wallace E., Portney, Paul R., & McGartland, Albert M. (1989). “The net benefits of incentive-based regulation: A case study of environmental standard-setting,” The American Economic Review 79: 1233–1242.
Organisation for Economic Co-operation and Development (OECD). (2004). Tradable Permits: Policy Evaluation, Design and Reform. Paris: Organisation for Economic Co-operation and Development.

O’Ryan, R. (1996). “Cost-effective policies to improve urban air quality in Santiago, Chile,” Journal of Environmental Economics and Management 31(3): 302–313.
Popp, D. (2003). “Pollution control innovations and the Clean Air Act of 1990,” Journal of Policy Analysis and Management 22(4): 641–660.
Roach, Fred, Kolstad, Charles, Kneese, Allen V., Tobin, Richard, & Williams, Michael. (1981). “Alternative air quality policy options in the Four Corners region,” Southwest Review 1: 29–58.
Roumasset, James A., & Smith, Kirk R. (1990). “Exposure trading: An approach to more efficient air pollution control,”. Journal of Environmental Economics and Management 18: 276–291.
Seskin, Eugene P., Anderson, Robert J., & Reid, Robert O. “An empirical analysis of economic strategies for controlling air pollution,” Journal of Environmental Economics and Management 10: 112–124.
Smith, Kirk R. (1998). “Air pollution: Assessing total exposure in the United States,” Environment30: 10–15, 33–38.
Soderholm, P. (1999). “Pollution charges in a transition economy: The case of Russia,” Journal of Economic Issues 33(2): 403–410.
Sorrell, S., & Skea, J. (Eds.). (1999). Pollution for Sale: Emissions Trading and Joint Implementation. Cheltenham, UK: Edward Elgar.
Spofford, Walter O., Jr. (1984). Efficiency properties of alternative source control policies for meeting ambient air quality standards: An empirical application to the Lower Delaware Valley. Resources for the Future, discussion paper D1189.
USEPA. The Benefits and Costs of the Clean Air Act 1970–1990. Available at: www.yosemite.epa.gov/ee/epa/eerm.nsf/vwRepNumLookup/EE-0295?OpenDocument
U.S. General Accounting Office. (1990). Electric supply: Older plants' impact on reliability and air quality. GAO/RCED-90-200.

Wang, Hua, & Wheeler, David. (2005). “Financial incentives and endogenous enforcement in China's pollution levy system,” Journal of Environmental Economics and Management49(1): 174–196.

Additional References

Chapter 9

Bennett, Lynne Lewis. (2000). “The integration of water quality into transboundary allocation agreements: Lessons from the Southwestern United States,” Agricultural Economics 24: 113–125.
Bennett, Lynne Lewis, Thorpe, Steven G., & Guse, A. Joseph. (2000). “Cost-effective control of nitrogen loadings in Long Island Sound,” Water Resources Research 36(12): 3711–3720.
Bystrom, Olof. (1998). “The nitrogen abatement cost in wetlands,” Ecological Economics 26: 321–331.
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Historically Significant References
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Kneese, Allen V., & Schultze, Charles L. (1975). Pollution, Prices, and Public Policy. Washington, D.C.: Brookings Institution.

Additional References

Chapter 10

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Additional References

Chapter 12

Anthoff, D., & Hahn, R. (2010). “Government failure and market failure: On the inefficiency of environmental and energy policy,” Oxford Review of Economic Policy, 26(2): 197–224.
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Fowlie, Merideth and Robyn Meeks (2021). ”The Economics of Energy Efficiency in Developing Countries,” Review of Environmental Economics and Policy 15(22): 238–260.
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Gillingham, K., Rapsony, D., & Wagner, G. (2016). “The rebound effect and energy efficiency policy.” Review of Environmental Economics and Policy 10(1): 68–88.
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Additional References

Chapter 13

Aldy, J. E. (2020). “Carbon Tax Review and Updating: Institutionalizing an Act-Learn-Act approach to U.S. climate policy”, Review of Environmental Economics and Policy 14(1): 76–94.
Barron Alexander, R., et. al. (2018). “Policy insights from the EMF 32 study on U.S. carbon tax scenarios,” Climate Change Economics 9(1): 1840003.
Brooks, Susanne A.  and Nathaniel O. Keohane, Nathaniel O. (2020). “The Political Economy of Hybrid Approaches to a U.S. Carbon Tax: A Perspective from the Policy World,” Review of Environmental Economics and Policy 14(1): 67–75.
Burtraw, Dallas, Charles Holt, Karen Palmer, Anthony Paul, and William Shobe (2017). "Expanding the Toolkit: The Potential Role for an Emissions Containment Reserve in RGGI,“ Resources for the Future Report ( August). https://media.rff.org/documents/RFF-Rpt-RGGI_ECR.pdf
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Cronin, J. A., Fullerton, D., & Sexton, S. (2019). “Vertical and horizontal redistributions from a carbon tax and rebate,” Journal of the Association of Environmental and Resource Economists 6(S1): S169–208. https://doi.org/10.1086/701191
Cullenward, Danny and David G. Victor. (2021). Making Climate Policy Work Medford, MA: Polity Press.
Deryugina, T., Fullerton, D., & Pizer, W. A. (2019). “An introduction to energy policy trade-offs between economic efficiency and distributional equity,” Journal of the Association of Environmental and Resource Economists 6(S1): S1-S6. https://doi.org/10.1086/701515
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Hafstead, M., and R. C. Williams III. (2020). “Designing and Evaluating a U.S. Carbon Tax Adjustment Mechanism to Reduce Emissions Uncertainty,” Review of Environmental Economics and Policy 14(1): 95–113.
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Jacquet, Jennifer, Kristin Hagel, Christoph Hauert, Jochem Marotzke, Torsten Rohl, and Manfred Milinski. (2013.) “Intra- and intergenerational discounting in the climate game” Nature Climate Change. On the web at: www.nature.com/nclimate/journal/vaop/ncurrent/full/nclimate2024.html.
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Keohane, R. O. (2009). “Cap and trade, rehabilitated: Using tradable permits to control U.S. greenhouse gases,” Review of Environmental Economics and Policy 3 (1): 42–62.
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Metcalf, G. E. (2020). “An Emissions Assurance Mechanism: Adding Environmental Certainty to a U.S. Carbon Tax,” Review of Environmental Economics and Policy 14(1): 114–130.
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Additional References

Chapter 14

Bayham, J., Yoder, J.K., Champ, P.A. and Calkin, D.E. (2022). “The Economics of Wildfire in the United States. Annual Review of Resource Economics, 14.

Baylis, P.W. and Boomhower, J. (2022). Mandated vs. Voluntary Adaptation to Natural Disasters: The Case of US Wildfires (No. w29621). National Bureau of Economic Research.

Burke, M., Driscoll, A., Heft-Neal, S., Xue, J., Burney, J. and Wara, M. (2021). “The changing risk and burden of wildfire in the United States,” Proceedings of the National Academy of Sciences 118(2): e2011048118.

IPBES. (2019). Summary for policymakers of the global assessment report on biodiversity and ecosystem services of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services. S. Díaz, J. Settele, E. S. Brondízio, H. T. Ngo, M. Guèze, J. Agard, A. Arneth, P. Balvanera, K. A. Brauman, S. H. M. Butchart, K. M. A. Chan, L. A. Garibaldi, K. Ichii, J. Liu, S. M. Subramanian, G. F. Midgley, P. Miloslavich, Z. Molnár, D. Obura, A. Pfaff, S. Polasky, A. Purvis, J. Razzaque, B. Reyers, R. Roy Chowdhury, Y. J. Shin, I. J. Visseren-Hamakers, K. J. Willis, and C. N. Zayas (eds.). IPBES secretariat, Bonn, Germany. 56 pages. https://doi.org/10.5281/zenodo.3553579

Johnson, Justin Andrew; Ruta, Giovanni; Baldos, Uris; Cervigni, Raffaello; Chonabayashi, Shun; Corong, Erwin; Gavryliuk, Olga; Gerber, James; Hertel, Thomas; Nootenboom, Christopher; Polasky, Stephen. (2021). The Economic Case for Nature : A Global Earth-Economy Model to Assess Development Policy Pathways. World Bank, Washington, DC. © World Bank. https://openknowledge.worldbank.org/handle/10986/35882 License: CC BY 3.0 IGO.

Johnston, F.H., Borchers-Arriagada, N., Morgan, G.G., Jalaludin, B., Palmer, A.J., Williamson, G.J. and Bowman, D.M. (2021). “Unprecedented health costs of smoke-related PM2. 5 from the 2019–20 Australian megafires,” Nature Sustainability 4(1): 42–47.

Kousky, C., Kunreuther, H., Xian, S. and Lin, N. (2021). “Adapting our flood risk policies to changing conditions,” Risk Analysis 41(10): 1739–1743.

Loomis, J., Wohlgemuth, P., González‐Cabán, A. and English, D. (2003). “Economic benefits of reducing fire‐related sediment in southwestern fire‐prone ecosystems,” Water Resources Research 39(9).

Moeltner, K., Kim, M.K., Zhu, E. and Yang, W. (2013). Wildfire smoke and health impacts: A closer look at fire attributes and their marginal effects. Journal of Environmental Economics and Management 66(3): 476–496.

Plantinga, A.J., Walsh, R. and Wibbenmeyer, M. (2022). “Priorities and effectiveness in wildfire management: evidence from fire spread in the western United States,” Journal of the Association of Environmental and Resource Economists 9(4): 603–639.

Robbins, Jim. (2019). “As Water Scarcity Increases, Desalination Plants Are on the Rise,” Yale Environment 360.

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Additional References

Chapter 15

Baranzini A, Carattini S, Tesauro L. (2021). Designing Effective and Acceptable Road Pricing Schemes: Evidence from the Geneva Congestion Charge. Environ Resour Econ (Dordr) 79(3): 417–482. DOI: 10.1007/s10640-021-00564-y. Epub May 31. PMID: 34092921; PMCID: PMC8165354.

Vickrey, W.S. (1963). “Pricing in urban and suburban transport,” The American Economic Review 53(2): 452–465.

Additional References

Chapter 16

Arnason, Ragnar. (2012). “Property rights in fisheries: How much can individually transferable quotas accomplish?” Review of Environmental Economics and Policy 6(2): 217–236.
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Bateman, I. J., Mace, G. M., Fezzi, C., Atkinson, G. & Turner, K. (2011). “Economic analysis for ecosystem service assessments,” Environmental and Resource Economics48(2), 177–218.
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Additional References

Chapter 17

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Gordon, H. Scott. (1954). “The economic theory of a common-property resource: The fishery,” Journal of Political Economy 62: 124–142.
Schaefer, M. D. (1957). “Some considerations of population dynamics and economics in relation to the management of marine fisheries,” Journal of the Fisheries Research Board of Canada 14: 669–681.
Wilen, James E., Cancino, Jose, & Uchida, Hirotsugu. (2012). “The economics of territorial use rights fisheries, or TURFs,” Review of Environmental Economics and Policy 6(2): 237–257.

World Bank and FAO (Food and Agriculture Organization of the United Nations). (2009). The Sunken Billions: The Economic Justification for Fisheries Reform. Washington, D.C.: World Bank.

Additional References

Chapter 18

Austin, K.G., Baker, J.S., Sohngen, B.L. et al. (2020). “The economic costs of planting, preserving, and managing the world’s forests to mitigate climate change,”. Nat Commun 11(5946). https://doi.org/10.1038/s41467-020-19578-z
Berck, P. (1981). “Optimal management of renewable resources with growing demand and stock externalities,” Journal of Environmental Economics and Management 8: 105–117.
Binswanger, H. (1991). “Brazilian policies that encourage deforestation in the Amazon,” World Development 19: 821–829.
Caviglia-Harris, Jill. L. (2004). “Household production and forest clearing: The role of farming in the development of the Amazon,” Environment and Development Economics 9: 181–202.
Chomitz, K. M., & Thomas, T. S. (2003). “Determinants of land use in Amazonia: A fine-scale spatial analysis,” American Journal of Agricultural Economics 85(4), 1016–1028.
Deininger, K., & Minten, B. (2002). “Determinants of deforestation and the economics of protection: An application to Mexico,” American Journal of Agricultural Economics 84(4), 943–960.
Johansson, Per-Olov. (1985). Economics of Forestry and Natural Resources. New York: Basil Blackwell.
Laird, S. A., & ten Kate, K. (2002). Linking biodiversity prospecting and forest conservation. In S. Pagiola, J. Bishop, & N. Landell-Mills (Eds.), Selling Forest-Services: Market-Based Mechanisms for Conservation and Development. London: Earthscan Publications, 151–172.
Mahar, Dennis J. (1989). Government Policies and Deforestation on Brazil's Amazon Region. Washington, D.C.: World Bank.
Merrifield, David E., & Hayes, Richard W. (1984). “The adjustment of product and factor markets: An application to the Pacific Northwest forest products industry,” American Journal of Agricultural Economics 66: 79–87.
Myers, Norman. (1984). The Primary Source: Tropical Forests and Our Future. New York: W. W. Norton.
Neumayer, Eric. (2005). “Does high indebtedness increase natural resource exploitation?” Environment and Development Economics 10(2): 127–142.
Newell, R. G., & Stavins, R. N. (2000). “Climate change and forest sinks: Factors affecting the costs of carbon sequestration,” Journal of Environmental Economics and Management 40(3): 211–235.
Organisation for Economic Co-operation and Development. (1991). OECD Environmental Data: Compendium 1991. Paris: Organisation for Economic Co-operation and Development.
Repetto, R. (1988). The Forest for the Trees? Government Policies and the Misuse of Forest Resources. Washington, D.C.: World Resources Institute.
Repetto, R., & Gillis, M. (Eds.). (1988). Public Policy and the Misuse of Forest Resources. Cambridge: Cambridge University Press.
Sedjo, R. A., & Swallow, S. K. (2002). “Voluntary eco-labeling and the price premium,” Land Economics 78 (2): 272–284.

Vincent, Jeffrey R. (1990). “Rent capture and the feasibility of tropical forest management,” Land Economics 66(2): 212–223.

Additional References

Chapter 19

Barbier, E. B. (1997). “The economic determinants of land degradation in developing countries,” Philosophical Transactions of the Royal Society: Biological Sciences 352: 891–899.
Bigelow, Daniel and Allison Borchers. (2017). Major Uses of Land in the United States, 2012, . The Economic Research Service of the U.S. Department of Agriculture, Economic Information Bulletin No. (EIB-178) 69 pp
Bell, K. P., Boyle, K. J., & Rubin, J. (2006). Economics of Rural Land-Use Change. Aldershot, UK: Ashgate.
Bruchfield, Marcy, Overman, Henry G., Puga, Diego, & Turner, Matthew A. (2006). “Causes of sprawl: A portrait from space,” Quarterly Journal of Economics 121(2): 587–633.
Carrión-Flores, Carmen, & Irwin, Elena G. (2004). “Determinants of residential land-use conversion and sprawl at the rural–urban fringe,” American Journal of Agricultural Economics 86(4), 889–904.
Casey, Frank, Vickerman, Sara, Hummon, Cheryl, & Taylor, Bruce. (2006). Incentives for Biodiversity Conservation: An Ecological and Economic Assessment. Washington, D.C.: Defenders of Wildlife.
Demsetz, Harold. (1967). “Toward a theory of property rights,” American Economic Review 57: 347–359.
Irwin, Elena G., & Bockstael, Nancy E. (2007). “The evolution of urban sprawl: Evidence of spatial heterogeneity and increasing land fragmentation,” Proceedings of the National Academy of Sciences 104 (52): 20672–20677.
Irwin, E. G., Bell, K. P., Bockstael, N. E., Newburn, D. A., Partridge, M. D., & Wu, J. J. (2009). “The economics of urban–rural space,” Annual Review of Resource Economics 1: 435–459.
Hascic, I., & Wu, J. (2012). “The cost of land use regulation versus the value of individual exemption: Oregon ballot measures 37 and 49,” Contemporary Economic Policy 30(2): 195–214.
Herriges, J., et. al. (2005). “Living with hogs in Iowa: The impact of livestock facilities on rural residential property values,” Land Economics 81(4): 530–545.
Magliocca, N., McConnell, V., Walls, M., & Safirova, E. (2012). “Zoning on the urban fringe: Results from a new approach to modeling land and housing markets,” Regional Science and Urban Economics 42(1–2): 198–210.
McConnell, V., Kopits, E., & Walls, M. (2006). “Using markets for land preservation: Results of a TDR program,” Journal of Environmental Planning and Management 49 (5): 631–651.
McConnell, V., Walls, M., & Kopits, E. (2006). “Zoning, TDRs and the density of development,”. Journal of Urban Economics 59(3), 440–457.
McConnell, V., & Walls, M. (2009). “US experience with transferable development rights,” Review of Environmental Economics and Policy 3(2): 288–303.
Motohiro Adachi & Patel, Kanak. (1999). “Agricultural land conversion and inheritance tax in Japan,” Review of Urban & Regional Development Studies 11(2): 127–140.
Salzman, James, & Ruhl, J. B. (2007). “No net loss”: Instrument choice in wetlands protection. In Jody Freeman and Charles D. Kolstad (Eds.), Moving to Markets in Environmental Protection: Lessons from Twenty Years of Experience. New York: Oxford University Press, 323–350.
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Historically Significant References

Demsetz, Harold. (1967). “Toward a theory of property rights,” American Economic Review 57: 347–359.

Additional References

Chapter 20

Alpay, S. (2000). “Does trade always harm the global environment? A case for positive interaction,” Oxford Economic Papers New Series 52(2): 272–288.
Antweiler, W., Copeland, B. R., et al. (2001). “Is free trade good for the environment?” American Economic Review 91(4): 877–908.
Asheim, Geir B. (1994). “Net national product as an indicator of sustainability,” Scandinavian Journal of Economics 55: 257–265.
Barbera, Anthony J., & McConnell, Virginia D. (1990). “The impact of environmental regulations on industry productivity: Direct and indirect effects,” Journal of Environmental Economics and Management 18: 50–65.
Barbier, E., & Schulz, C. (1997). Wildlife, biodiversity and trade. Environment and Development Economics2(2): 145–172.
Barrett, J. A. (2001). The global environment and free trade: A vexing problem and a taxing solution. Indiana Law Journal76(4): 829–887.
Becker, R., & Henderson, V. (2000). Effects of air quality regulation on polluting industries. Journal of Political Economy108(2): 379–421.
Bhagwati, J. (2000). On thinking clearly about the linkage between trade and the environment. Environment and Development Economics5(4): 485–496.
Chichilnisky, Graciela. (1994). “North–South trade and the global environment,” The American Economic Review 84: 851–874.
Cole, M. A. (2004). “Trade, the pollution haven hypothesis and the Environmental Kuznets Curve: Examining the linkages,” Ecological Economics 8(1): 71–81.
Crosson, Pierre R., & Rosenberg, Norman J. (1989). “Strategies for agriculture,” Scientific American 261: 128–135.
Daly, Herman E. (1987). “The economic growth debate: What some economists have learned but many have not.” Journal of Environmental Economics and Management 14: 323–336.
Daly, Herman E. (1991). Steady-State Economics. Washington, D.C.: Island Press.
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Dean, J. (2002). “Testing the impact of trade liberalization on the environment: Theory and evidence,” Canadian Journal of Economics 35(4): 819–842.
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Esty, D. C. (2001). “Bridging the trade–environment divide,” Journal of Economic Perspectives 15(3): 113–130.
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Gallagher, K. P. (2004). Free Trade and the Environment: Mexico, NAFTA and Beyond. Palo Alto, CA: Stanford University Press.
Greenstone, M. (2002). “The impacts of environmental regulations on industrial activity: Evidence from the 1970 and the 1977 Clean Air Act Amendments and the Census of Manufactures,” Journal of Political Economy110(6): 1175–1219.
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Lenhardt, W. C. (2000). “Green trade on the web,” Environment 4(9), 3–4.
Levinson, A. (2000). “The missing pollution haven effect,” Environmental and Resource Economics 15(4): 343–364.
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Pezzey, John. (1994). The Optimal Sustainable Depletion of Non-Renewable Resources. Association of Environmental and Natural Resource Economists Workshop, Boulder, CO, June 5–6.
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Historically Significant References

Boulding, Kenneth E. (1964). The Meaning of the Twentieth Century. New York: Harper and Row.
Dasgupta, P. S., & Heal, G. M. (1979). Economic Theory and Exhaustible Resources. Cambridge: Cambridge University Press.
Hartwick, J. M. (1977). “Intergenerational equity and the investing of rents from exhaustible resources,” American Economic Review 67: 972–974.

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