Gardner M. Brown, Jr. has been a leading innovator in the development of environmental and natural resource economics. This book comprises essays written in his honor by some of the most distinguished economists working in this field

In nonrenewable resource industries, the existence of a markup of price over marginal market cost may reflect the existence of an implicit user cost for the resource rather than market power. We show that valid estimates of market power can be obtained by the joint estimation of a restricted...