I review the complex welfare economic issues that arise in environmental decision-making over very long periods, as in cases relating to climate change and biodiversity loss. I also consider the issues that arise in choosing a discount rate to apply to very long-run projects and indicate how...

Public policies that lead to a reduction in the emissions of air and water pollutants or the protection of sensitive ecosystems presumably increase the well-being of many members of society. Applied welfare economists are accustomed to measuring the welfare effects of policies that invoke price...

This chapter provides an overview of normative analysis in the health sector in recent decades. It surveys two distinct, but related, literatures. The first is normative analysis of the operation of health care and health care insurance markets, market failure, and the scope for non-market...