Environmental policy is high on the political agenda in many countries. Considering the various dimensions of environmental quality as public goods, Sandmo identifies the failures of the market mechanism in the face of environmental problems and shows how economic policy should be designed to...

Microeconomics - individuals' choices of where to live and work, how much to save, what to buy, and firms' decisions about location, hiring, firing, and investment - involves issues that concern us on a daily basis. But when people think about economics, they tend to place importance on the...