In this book, Professors Baumol and Oates provide a rigorous and
comprehensive analysis of the economic theory of environmental
policy. They present a formal, theoretical treatment of those
factors influencing the quality of life. By covering both the
theory of externalities and its application to environmental
policy, the authors have retained the basic structure and
organization of the first edition, which has become a standard
reference in the field. In this edition, however, they have updated
their analysis to incorporate recent research in environmental
economics.
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