Classic Papers in Natural Resource Economics

1. Front Matter

   Pages i-xi

   PDF

2. Classic Papers in Natural Resource Economics: An Overview

   1. Classic Papers in Natural Resource Economics: An Overview

      • Chennat Gopalakrishnan

      Pages 1-10

3. The Intertemporal Problem

   1. Front Matter

      Pages 11-11

      PDF

   2. The Social Time Preference Discount Rate in Cost Benefit Analysis

      • Martin S. Feldstein

      Pages 13-36

   3. On the Social Rate of Discount

      • William F. Baumol

      Pages 37-53

   4. Uncertainty and the Evaluation of Public Investment Decisions

      • Kenneth J. Arrow, Robert C. Lind

      Pages 54-75

   5. Environmental Preservation, Uncertainty, and Irreversibility

      • Kenneth J. Arrow, Anthony C. Fisher

      Pages 76-84

4. Externalities and Market Failure

   1. Front Matter

      Pages 85-85

      PDF

   2. The Problem of Social Cost

      • Ronald H. Coase

      Pages 87-137

   3. Externality

      • James M. Buchanan, William C. Stubblebine

      Pages 138-154

   4. On Divergences between Social Cost and Private Cost

      • Ralph Turvey

      Pages 155-160

5. Property Rights, Institutions and Public Choice

   1. Front Matter

      Pages 161-161

      PDF

   2. Toward a Theory of Property Rights

      • Harold Demsetz

      Pages 163-177

   3. The Economic Theory of a Common-Property Resource: The Fishery

      • H. Scott Gordon

      Pages 178-203

   4. Politics, Policy, and the Pigovian Margins

      • James M. Buchanan

      Pages 204-218

6. The Economics of Exhaustible Resources

   1. Front Matter

      Pages 219-219

      PDF

   2. The Economics of Exhaustible Resources

      • Harold Hotelling

      Pages 221-256

   3. The Economics of Resources or the Resources of Economics

      • Robert M. Solow

      Pages 257-276

7. The Economics of Renewable Resources

   1. Front Matter

      Pages 277-277

      PDF

   2. Economics of Production from Natural Resources

      • Vernon L. Smith

      Pages 279-303

Classic Papers in Natural Resource Economics brings together a choice selection of some of the most enduring academic writing published in this field in a single volume. The fourteen papers included in this book are grouped into five sections: the intertemporal problem; externalities and market failure; property rights; institutions and public choice; the economics of exhaustible resources; and the economics of renewable resources. Each section represents a major area in natural resource economics. Written by distinguished resource economists, the papers in this volume probe, analyze and illuminate the central issues of the discipline.

• economic theory
• economics
• environment
• evaluation
• forestry
• institutions
• investment
• production
• public choice
• resource economics

• University of Hawaii at Manoa, Honolulu, US

  Chennat Gopalakrishnan

CHENNAT GOPALAKRISHNAN is Professor of Natural Resource Economics at the University of Hawaii. He has published three books, Natural Resources and Energy, Theory and Policy and The Emerging Marine Economy of the Pacific and The Economics of Energy in Agriculture and approximately sixty journal articles and papers dealing with current and emerging issues in natural resource economics and policy.

Policies and ethics