This groundbreaking book takes a fresh look at how environmental problems emerge from economic activity and how they may be addressed in a responsible and sustainable manner. At its centre is the concept of joint production. This captures the phenomenon whereby several effects necessarily emerge...

We analyze a dynamic and stochastic ecological-economic model of grazing management in semi-arid rangelands. The non-equilibrium ecosystem is driven by stochastic precipitation. A risk averse farmer chooses a grazing management strategy under uncertainty such as to maximize expected utility from...

We develop a comprehensive multi-level approach to ecological economics (CML-approach) which integrates philosophical considerations on the foundations of ecological economics with an adequate operationalization. We argue that the subject matter and aims of ecological economics require a...

We perform a model analysis to study the origins of limited resilience in ecological-economic systems. We demonstrate that the resilience properties of the ecosystem are essentially determined by the management institutions and consumers' preferences for ecosystem services. In particular, we...

We analyze the optimal dynamic scale and structure of a two-sector-economy, where each sector produces one consumption good and one specific pollutant. Both pollutants accumulate at different rates to stocks which damage the natural environment. This acts as a dynamic driving force for the...

Ecosystem resilience, i.e. an ecosystem's ability to maintain its basic functions and controls under disturbances, is often interpreted as insurance: by decreasing the probability of future drops in the provision of ecosystem services, resilience insures risk-averse ecosystem users against...