'I joined this amazing journey about 30 years ago. I benefited from all the theories, principles, and approaches offered in this book to explore the natural resource and environmental issues on the other side of the world. It makes me an enthusiastic and pragmatic teacher and researcher. In addition to rearranging and rewriting certain chapters, the fourth edition comprises new chapters on climate change which reflect our future challenges. Such knowledge deserves continuously passing to our future generations and equipping more students as an effective doer in resolving complex natural resources issues.' - Pei-Ing Wu, National Taiwan University, TaiwanResource Economics engages students and practitioners in natural resource and environmental issues from both local and global standpoints. The Fourth edition of this approachable but rigorous text provides a new focus on risk and uncertainty as well as new applications that address the effect of new energy technologies on scarcity and climate change mitigation and adaptation, while preserving and systematically updating the approach and key features that drew many thousands of readers to the first three editions. More comprehensive than its competitors, this new edition frames issues and policies from resource scarcity and basic ecology to welfare criteria, property rights, and environmental ethics. Necessary economic, policy, and management concepts and tools are provided, along with applications to a variety of real-world problems. Also included are substantial treatments of new energy technologies, including fracking for oil and natural gas, solar and wind energy, and chapter length analyses of air quality, land markets and use, water resources, climate change, and sustainability. Primarily a textbook, this teaching tool is perfect for undergraduate and graduate students alike who are studying natural resource and environmental economics, as well as sustainability. Additionally, natural resource, environmental policy, and management decision-makers in the private and public sectors will find the content of this book useful for guiding real-world management and policy decisions. Academic, government, and NGO researchers will also find this to be a valuable resource.

'I joined this amazing journey about 30 years ago. I benefited from all the theories, principles, and approaches offered in this book to explore the natural resource and environmental issues on the other side of the world. It makes me an enthusiastic and pragmatic teacher and researcher. In addition to rearranging and rewriting certain chapters, the fourth edition comprises new chapters on climate change which reflect our future challenges. Such knowledge deserves continuously passing to our future generations and equipping more students as an effective doer in resolving complex natural resources issues.' - Pei-Ing Wu, National Taiwan University, TaiwanResource Economics engages students and practitioners in natural resource and environmental issues from both local and global standpoints. The Fourth edition of this approachable but rigorous text provides a new focus on risk and uncertainty as well as new applications that address the effect of new energy technologies on scarcity and climate change mitigation and adaptation, while preserving and systematically updating the approach and key features that drew many thousands of readers to the first three editions. More comprehensive than its competitors, this new edition frames issues and policies from resource scarcity and basic ecology to welfare criteria, property rights, and environmental ethics. Necessary economic, policy, and management concepts and tools are provided, along with applications to a variety of real-world problems. Also included are substantial treatments of new energy technologies, including fracking for oil and natural gas, solar and wind energy, and chapter length analyses of air quality, land markets and use, water resources, climate change, and sustainability. Primarily a textbook, this teaching tool is perfect for undergraduate and graduate students alike who are studying natural resource and environmental economics, as well as sustainability. Additionally, natural resource, environmental policy, and management decision-makers in the private and public sectors will find the content of this book useful for guiding real-world management and policy decisions. Academic, government, and NGO researchers will also find this to be a valuable resource.

Making the Environment Count brings together, in one accessible volume, an outstanding selection of Alan Randall's essays published over the past 30 years. It explores ideas on making the environment count from a conceptual perspective and addresses a range of topics pertinent to the study of environmental economics including: the limits of markets in reflecting environmental quality, and the implications of this for policy and institutional design cost-benefit analysis, with emphasis on its welfare-theoretic foundations, and its ability to reflect the public's demand for environmental quality conservation, biodiversity and sustainability developments in methodology the ethical foundations of public policy conceptual foundations of empirical methods of valuing the environment By improving access to Alan Randall's many important contributions, this volume makes a significant addition to the literature and will be welcomed by environmental economists.

The precautionary principle has been labeled simplistic and the rational approach to decision-making under risk was modeled on well-specified games of chance. How then are we to manage the risks, uncertainties, and 'unknown unknowns' of the real world? In this book, Alan Randall unravels the key controversies surrounding the precautionary principle and develops a new framework that can be taken seriously in policy and management circles. Respecting the complexity of the real world, he defines a justifiable role for the precautionary principle in a risk management framework that integrates precaution with elements of the standard risk management model. This is explained using examples from medicine, pharmacy, synthetic chemicals, nanotechnology, the environment and natural resources conservation. This carefully reasoned but highly accessible book will appeal to readers from a broad range of disciplines, including environmental policy, risk management and cost-benefit analysis.

The precautionary principle has been labeled simplistic and the rational approach to decision-making under risk was modeled on well-specified games of chance. How then are we to manage the risks, uncertainties, and 'unknown unknowns' of the real world? In this book, Alan Randall unravels the key controversies surrounding the precautionary principle and develops a new framework that can be taken seriously in policy and management circles. Respecting the complexity of the real world, he defines a justifiable role for the precautionary principle in a risk management framework that integrates precaution with elements of the standard risk management model. This is explained using examples from medicine, pharmacy, synthetic chemicals, nanotechnology, the environment and natural resources conservation. This carefully reasoned but highly accessible book will appeal to readers from a broad range of disciplines, including environmental policy, risk management and cost-benefit analysis.