A foundation is provided for a correct and accurate analysis of the relationship between monetary values and physical dimensions in economic production. A distinction is proposed between direct and indirect substitution. Linked to this, a classification is offered of various types of...

The nature of energy and material resources in an endogenous growth theory framework is clarified. This involves three modifications of the conventional theory. Firstly, multiple feedback mechanisms or “growth engines” are identified. Secondly, a production function distinguishes between...

Optimal harvesting of prey in a predator–prey ecosystem is studied under the condition that the existence of the predator has value. Predators (birds) and humans (fishers) compete for prey (shellfish). The behavior of the system is studied and conditions for optimal control are deduced....

Most insights of environmental economics are in line with the standard neoclassical economic model of rational behaviour, formulated in terms of maximization of utility in general, or profits in particular. The standard theory of environmental policy is a case in point. However, the maximization...

Recent advances in evolutionary theory have important implications for environmental economics. A short overview is offered of evolutionarythinking in economics. Subsequently, major concepts and approaches inevolutionary biology and evolutionary economics are presented andcompared. Attention is...

This article presents a model of sequential decisions about investments in environmentally dirty and clean technologies, which extends the path-dependence framework of Arthur (1989). This allows us to evaluate if and how an economy locked into a dirty technology can be unlocked and move towards...

The relationship between trade and material flows is examined by viewing the global economy from the perspective of international material-product chains (MPC). The international MPC covers the complete lifecycle of a material or a product in two or more regions, including extraction,...

Regional economic activities require materials that can be extracted domestically or imported from other regions. Analysis of optimal patterns of combined economic development and materials use should be discussed in relation to trade and the environment. A model is presented that optimises...

The application of aggregate indicators in environmental-economic research has received little attention so far. An important reason is the incompleteness of environmental data. This article presents a systematic approach to construct indicators of environment and economy on a macro level. It...

This paper gives a concise overview of environmental-economic analysis. Important issues and modern developments in the field are surveyed in a systematic way. Next, the concept of sustainable development is discussed, as it has dominated environmental economics for almost a decade now. In...