Nick Hanley | Jason Shogren | Ben White | lsecondedition) = —’ | ge Digitized by the Internet Archive in 2022 with funding from Kahle/Austin Foundation https://archive.org/details/introductiontoen0000hanl_h9u9 boo Introduction to Environmental Economics Introduction to Environmental Economics Professor Nick Hanley Professoro fE conomics, University of Stirling Professor Jason F. Shogren Stroock Professor of Natural Resource Conservation and Management, University of Wyoming Dr Ben White Professor in the School of Agricultural and Resource Economics, University of Western Australia OXFORD UNIVERSITY PRESS OXFORD UNIVERSITY PRESS Great Clarendon Street, Oxford, OX2 6DP, United Kingdom Oxford University Press is a department of the University of Oxford. It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide. Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries © Nick Hanley, Jason F. Shogren, and Ben White 2013 The moral rights of the authors have been asserted First Edition copyright 2001 Impression: 5 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of Oxford University Press, or as expressly permitted by law, by licence or under terms agreed with the appropriate reprographics rights organization. Enquiries concerning reproduction outside the scope oft he above should be sent to the Rights Department, Oxford University Press, at the address above You must not circulate this work in any other form and you must impose this same condition on any acquirer British Library Cataloguing in Publication Data Data available Library of Congress Cataloging in Publication Data Data available ISBN 978-0-19-956873-4 Printed in Great Britain by Bell & Bain Ltd, Glasgow Links to third party websites are provided by Oxford in good faith and for information only. Oxford disclaims any responsibility for the materials contained in any third party website referenced in this work. N. Hanley For Fiona, Rose, Charlie, and Finn J. Shogren For Maija, Riley, and Mikko B. White For Jane, Catherine, Steven, and Dominic Acknowledgements The authors thank staff at OUP for all their hard work and encouragement. Nick thanks Mik Czajkowski and Dervla Brennan for help on several chapters, and Jack Pezzey for many discussions. He also thanks the Crawford School, Australian National University, for their hospitality whilst writing the final drafts. Ben would like to thank Michael Burton for his insights into environmental economics and Deborah Swindells for administrative support. Jason thanks his teachers and students over the years for their willingness to share ideas, agreeably and otherwise. New to this Edition Building on the success of the first edition, the second edition of an Introduction to Environmental Economics features the following updated material: e Substantial revision of all existing chapters e Greater focus on environmental policy and management links to policy issues which have recently emerged e Updating of box sections with recent findings from the literature ® New pedagogical features including tutorial questions and definitions. PRAISE FOR THE BOOK ‘Tt bases heavily on empirical evidence and also provides an extensive number of examples, which explain well definitions mentioned in the text.’ Leon Vinokur, Queen Mary, University of London ‘The writing style is of a high quality and is pitched at the appropriate level for an introduction to Environmental Economics. Economic concepts are introduced using easy-to-understand language and examples.’ Professor Mike Christie, Aberystwyth University