Three independent literatures have contributed to the understanding of irreversibility in economics. The first focuses on the future opportunities forgone by investments with irreversible consequences. The second considers irreversibility (and hysteresis) in the context of the dynamics of...

In previous papers we have considered the optimal mix of biodiversity in semi-arid rangelands, focusing on the steady state. This paper addresses the question of conservation in the optimal use of rangelands. That is, it considers the optimal trajectory of biodiversity change. There are two...

The growth of international trade and travel means that more species are being introduced to more places than ever before. This book represents the first concerted effort to understand the economic causes and consequences of biological invasions. The volume discusses the theoretical and...