1 The Classical Roots of Resource Economics -- 2 Optimal Depletion of Exhaustible Resources -- 3 Renewable Resources -- 4 Environmental Resources: Dynamics, Irreversibility and Option Value -- 5 Resources, Growth and Sustainability -- 6 Climate: The Ultimate Resource?.

This book, based on lectures on natural and environmental resource economics, offers a nontechnical exposition of the modern theory of sustainability in the presence of resource scarcity. It applies an alternative take on environmental economics, focusing on the economics of the natural...

This paper studies the restrictions on consumption, portfolio choice, and social discounting implied by a sustainability constraint, that utility should not be expected to decline over time, in an economy with risky investment opportunities. The sustainability constraint does not distort...