First Published in 2011. Routledge is an imprint of Taylor & Francis, an informa company.

Is knowledge an economic good? Which are the characteristics of the institutions regulating the production and diffusion of knowledge? Cumulation of knowledge is a key determinant of economic growth, but only recently knowledge has moved to the core of economic analysis. Recent literature also gives profound insights into events like scientific progress, artistic and craft development which have been rarely addressed as socio-economic institutions, being the domain of sociologists and historians rather than economists. This volume adopts a multidisciplinary approach to bring knowledge in the focus of attention, as a key economic issue.

What potential problems does biodiversity loss create for humankind? What basis is there for biologists' concern about what has been described as the sixth mass extinction on our planet? The Biodiversity Programme of the Royal Swedish Academy of Sciences' Beijer Institute brought together eminent economists and ecologists to consider these and other questions about the nature and significance of the problem of biodiversity loss. This volume reports key findings from that programme. In encouraging collaborative interdisciplinary work between the closely related disciplines of economics and ecology, programme participants hoped to shed new light on the concept of diversity, the implications of biological diversity for the functioning of ecosystems, the driving forces behind biodiversity loss, and the options for promoting biodiversity conservation. The results of the programme are surprising. They indicate that the main costs of biodiversity loss may not be the loss of genetic material, but the loss of ecosystem resilience and the insurance it provides against the uncertain environmental effects of economic and population growth. Because this is as much a local as a global problem, biodiversity conservation offers both local and global benefits. Since the causes of biodiversity loss lie in the incentives to local users, that is where reform must begin if the problem is to be tackled successfully.

This volume reports key findings of the Biodiversity Program of the Royal Swedish Academy of Sciences' Beijer Institute. The program brought together a number of eminent ecologists and economists to consider the nature and significance of the biodiversity problem. In encouraging collaborative work between these closely related disciplines it sought to shed new light on the concept of diversity; the implications of biological diversity for the functioning of ecosystems; the driving forces behind biodiversity loss; and the options for promoting biodiversity conservation. The results of the program are surprising. It is shown that the core of the biodiversity problem is a loss of ecosystem resilience and the insurance it provides against the uncertain environmental effects of economic and population growth. This is as much a local as a global problem, implying that biodiversity conservation offers benefits that are as much local as global. The solutions as well as the causes of biodiversity loss lie in incentives to local users.

The Handbook of Environmental Economics focuses on the economics of environmental externalities and environmental public goods. Volume I examines environmental degradation and policy responses from a microeconomic, institutional standpoint. Its perspective is dynamic, including a consideration of the dynamics of natural systems, and global, with attention paid to issues in both rich and poor nations. In addition to chapters on well-established topics such as the theory and practice of pollution regulation, it includes chapters on new areas of environmental economics research related to common property management regimes; population and poverty; mechanism design; political economy of regulation; experimental evaluations of policy instruments; and technological change.

Many of the frontiers of environmental economics research are at the interface of large-scale and long-term environmental change with national and global economic systems. This is also where some of the most of challenging environmental policy issues occur. Volume 3 of the Handbook of Environmental Economics provides a synthesis of the latest theory on economywide and international environmental issues and a critical review of models for analyzing those issues. It begins with chapters on the fundamental relationships that connect environmental resources to economic growth and long-run social welfare. The following chapters consider how environmental policy differs in a general-equiIibrium setting from a partial-equilibrium setting and in a distorted economy from a perfect economy. The volume closes with chapters on environmental issues that cross or transcend national borders, such as trade and the environment, biodiversity conservation, acid rain, ozone depletion, and global climate change. The volume provides a useful reference for not only natural resource and environmental economists but also international economists, development economists, and macroeconomists.

Much applied environmental economics is concerned with the valuation of changes in environmental quality. Obtaining reliable valuation estimates requires attention to theoretical and econometric issues that are often quite subtle. Volume 2 of the Handbook of Environmental Economics presents both the theory and the practice of environmental valuation. It synthesizes the vast literature that has accumulated since the publication of the Handbook of Natural Resource and Energy Economics two decades ago. It includes chapters on individual valuation methods written by researchers responsible for fundamental advances in those methods. It also includes cross-cutting chapters that deal with aspects of welfare theory, uncertainty, experimental methods, and public health that are pertinent to valuation. Throughout the volume, attention is paid to research and policy issues that arise not only in high-income countries, where most of the theory and econometrics that underlie applied valuation methods have been developed, but also in poorer parts of the world. The volume provides a state-of-the-art reference for scholars and practitioners alike.

Property rights are a tool humans use in regulating their use of natural resources. Understanding how rights to resources are assigned and how they are controlled is critical to designing and implementing effective strategies for environmental management and conservation."Rights to Nature" is a nontechnical, interdisciplinary introduction to the systems of rights, rules, and responsibilities that guide and control human use of the environment. Following a brief overview of the relationship between property rights and the natural environment, chapters consider: ecological systems and how they function the effects of culture, values, and social organization on the use of natural resources the design and development of property rights regimes and the costs of their operation cultural factors that affect the design and implementation of property rights systems coordination across geographic and jurisdictional boundaries The book provides a valuable synthesis of information on how property rights develop, why they develop in certain ways, and the ways in which they function. Representing a unique integration of natural and social science, it addresses the full range of ecological, economic, cultural, and political factors that affect natural resource management and use, and provides valuable insight into the role of property rights regimes in establishing societies that are equitable, efficient, and sustainable.