'Resource Economics' engages students and practitioners in natural resource and environmental issues from both local and global standpoints. The 4th edition of this approachable but rigorous text provides a new focus on risk and uncertainty as well as new applications that address the effect of...

Theory predicts that incentive-based regulatory instruments reduce compliance costs by encouraging efficient resource allocation and innovation in environmental technology. Cost reductions from pollution permit trading often have exceeded expectations, but the devil is in the details: the rules...