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...

The literature on real options shows irreversibilities, uncertainties about future benefits and costs, and the flexibility in decision making generate benefits and costs of delaying immediate action. When applied to government policy making, real options models can lead to efficient policies...

The literature on real options shows that irreversibilities, uncertainties about future benefits and costs, and the flexibility in decision making generate benefits and costs of delaying immediate action. When applied to government policy making, real option models can lead to efficient policies...