This book is an advanced text in welfare economics and its
application to environmental economics. It provides, in the first
chapters, a comprehensive survey of developments in the theory of
measurement of welfare, and then applies this theory to
environmental economics. The first part derives consumer surplus
measures to be held in a timeless world. Throughout the emphasis is
on the circumstances in which a money measure correctly reflects
the underlying utility change. Four main cases are considered:
unrationed private goods, rationed private goods, public goods or
externalities, and discrete choices. Reviews of practical
methodologies for the calculation of consumers' surplus for these
classes of goods are also given. The second part looks at
intertemporal issues. In particular, it derives comsumer faces risk
and uncertainty. The book is intended for advanced courses in
environmental and welfare economics, and as a reference work for
those interested in the theory of measurement of welfare and its
application to environmental economics.
General
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