Classic Papers in Natural Resource Economics

Preface Acknowledgements Notes on the Contributors Classic Papers in Natural Resource Economics: An Overview; C.Gopalakrishnan PART I: THE INTERTEMPORAL PROBLEM The Social Time Preference Discount Rate in Cost Benefit Analysis; M.S.Feldstein On the Social Rate of Discount; W.F.Baumol Uncertainty and the Evaluation of Public Investment Decisions; K.J.Arrow & R.C.Lind Environment Preservation, Uncertainty and Irreversibility; K.J.Arrow & A.C.Fisher PART II: EXTERNALITIES AND MARKET FAILURE The Problem of Social Cost; R.Coase Externality ; J.Buchanan & W.C.Stubblebine On Divergences Between Social Cost and Private Cost; R.Turvey PART III: PROPERTY RIGHTS, INSTITUTIONS AND PUBLIC CHOICE Toward a Theory of Property Rights; H.Demsetz The Economic Theory of a Common Property Resource: The Fishery; H.S.Gordon Politics, Policy and the Pigovian Margins; J.Buchanan PART IV: THE ECONOMICS OF EXHAUSTIBLE RESOURCES The Economics of Exhaustible Resources; H.Hotelling The Economics of Resources or the Resources of Economics; R.M.Solow PART V: THE ECONOMICS OF RENEWABLE RESOURCES Economics of Production from Natural Resources; V.L.Smith Economics of Forestry in an Evolving Society; P.A.Samuelson Further Readings Index