What have we learned from the outpouring of literature as a result of the Stern Review of the Economics of Climate Change? A lot. We have explored the model space and the parameter space much more thoroughly, though there are still unexplored regions. While there are aspects of the Stern...

Uncertainty is ubiquitous in environmental economics: the field studies interactions between socio-economic and biogeochemical systems and neither is fully understood. So our grasp of their interactions is necessarily limited. We argue that this pervasive uncertainty is best modeled as ambiguity...

I review the complex welfare economic issues that arise in environmental decision-making over very long periods, as in cases relating to climate change and biodiversity loss. I also consider the issues that arise in choosing a discount rate to apply to very long-run projects and indicate how...

In the decades since Geoffrey Heal began his field-defining work in environmental economics, one central question has animated his research: "Can we save our environment and grow our economy?" This issue has become only more urgent in recent years with the threat of climate change, the...

Environment and economy-no conflict -- Market mistakes and how unpaid-for external effects are killing us -- Climate change: "the greatest external effect in human history" -- How to deal with external effects -- Solving the climate problem -- Everyone's property is no one's property -- Natural...