Replaced with revised version of paper 08/06/10.

Background is provided on the nature of environmental and resource economics and its origins. The main current view of environmental/resource economists about the concept of sustainable development is outlined and the implications of this view for decision-making about optimal resource-use,...

Several different concepts of sustainable development exist in the literature (Tisdell, 1993, Ch. 9). However, it seems that no matter which of these concepts is adopted conservation of biological diversity is necessary for its achievement, even though there is room for argument •about the...

Ecological, evolutionary and economic issues involved in introducing genetically modified organisms (GMOs), mainly in agriculture, are discussed. The ecological and evolutionary impacts identified hamper (economic) valuation of GMOs and their biosafety regulation and creates difficulties for...