Frontiers of Environmental Economics

Frontiers of Environmental Economics

Edited by Henk Folmer, H. Landis Gabel, Shelby Gerking and Adam Rose

Top European and American scholars contribute to this cutting-edge volume on little-researched areas of environmental and resource economics. Topics include spatial economics, poverty and development, experimental economics, large-scale risk and its management, organizational economics, technological innovation and diffusion and many more.


Henk Folmer, H. Landis Gabel, Shelby Gerking and Adam Rose

Subjects: economics and finance, environmental economics, environment, environmental economics


Henk Folmer, H. Landis Gabel, Shelby Gerking and Adam Rose Environmental and natural resource economics is a young sub-area of economics compared to others, such as international trade, industrial organization and public finance. Young though it may be, however, one could argue that the diagnosis of the problems at its heart has been made and most of the public policy prescriptions have been written. It may be, as has also been argued, that the patient too often chose to ignore the doctor’s advice, but that does not contradict the claim that this area of economics has come a long way in a short time to establish a secure theoretical paradigm and a set of policyrelevant research results. To elaborate, we have long understood the principles of market externalities and market failure that underlie the misallocation of environmental resources at a point in time. Recently, scholars have shown increasing interest in intertemporal resource misallocation, prompted by the appearance of the term ‘sustainability’ in the mid 1980s. Although the term itself continues to defy clear definition, if it is given some clear definition as a starting point, analysis can typically be pushed through to yield interesting insights. To the extent that the growing environmental ‘problem’ traces its root cause less in market failure and more in the twin pressures of population growth and economic development, again the diagnosis is clear even if implementation of policy prescriptions might prove difficult or impossible. All this is to argue that environmental economics...