Karl-Göran Mäler’s work has been a mainstay of the frontiers of environmental economics for more than three decades. This outstanding book, in his honour, assembles some of the best minds in the economics profession to confront and resolve many of the problems affecting the husbandry of our national environments.

Contents: Introduction Bengt Kriström 1 An example of dynamic control of negative stock externalities Kenneth J. Arrow 2 An optimal R&D for a patent race with uncertain duration Thomas Aronsson, Per-Olov Johansson and Karl-Gustaf Löfgren 3 The strategy of treaty negotiation: ‘broad but shallow’ versus ‘narrow but deep’ Scott Barrett 4 A CGE analysis of sulfur deposition and Sweden’s ‘green’ net national product Lars Bergman 5 Biodiversity management under uncertainty: species selection and harvesting rules William Brock and Anastasios Xepapadeas 6 The Kyoto Protocol: an economic and game-theoretic interpretation Parkash Chander, Henry Tulkens, Jean-Pascal van Ypersele and Stephane Willems 7 A model of fertility transition Partha Dasgupta 8 Notes on irreversibility, sustainability and the limits to growth Anthony C. Fisher and Jinhua Zhao 9 The acid rain game: a formal and mathematically rigorous analysis Henk Folmer and Pierre von Mouche 10 Bridging ecology and economics: reflections on the role of cost–benefit analysis and the design of interdisciplinary research Ing-Marie Gren, Clifford S. Russell and Tore Söderqvist 11 Valuing ecosystem services Geoffrey Heal 12 Hotelling (1925) on depreciation Bengt Kriström 13 Real versus hypothetical willingness to accept: the Bishop and Heberlein model revisited Chuan-Zhong Li, Karl-Gustaf Löfgren and W. Michael Hanemann 14 An economic approach to the control of invasive species in aquatic systems Charles Perrings 15 Global externalities: sovereign states Domenico Siniscalco 16 What if Jevons had actually liked trees? Robert M. Solow 17 Mobility and capitalization in local public finance: a reassessment David A. Starrett 18 The core of the cooperative game associated with oligopoly firms Hirofumo Uzawa 19 Highlighting the acid rain game Aart de Zeeuw Index