Table of contents for Environmental and natural resource economic / Tom Tietenberg, Lynne Lewis.

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Preface xxiii	
Chapter 1 Visions of the Future 1
Introduction 1
The Self-Extinction Premise 1
Some Historic Examples 2
Future Environmental Challenges 3
Climate Change 3
Water Accessibility 4
Meeting the Challenges 4
How Will Societies Respond? 5
The Role of Economics 6
Debate 1.1 Ecological Economics Versus Environmental 
Economics 7
The Use of Models 7
The Road Ahead 8
The Issues 8
Debate 1.2 What Does the Future Hold? 9
An Overview of the Book 10
Summary 12
Discussion Questions 12
Further Reading 13
Chapter 2 Valuing the Environment: 
Concepts 14
Introduction 14
The Human Environment Relationship 14
The Environment as an Asset 14
The Economic Approach 16
Normative Criteria for Decision-Making 17
Evaluating Predefined Options 17
Debate 2.1 Should Humans Place an Economic Value 
on the Environment? 18
Example 2.1 Valuing Ecological Services from Preserved Tropical Forests 21
Comparing Benefits and Costs Across Time 23
Finding the Optimal Outcome 24
Static Efficiency 25
Dynamic Efficiency 27
Applying the Concepts 27
Pollution Control 27
Example 2.2 Does Reducing Pollution Make 
Economic Sense? 28
Preservation Versus Development 29
Summary 29
Example 2.3 Choosing Between Preservation and Development in Australia 30
Discussion Question 31
Problem 31
Further Reading 31
Appendix 32
The Simple Mathematics of Dynamic Efficiency 32
Chapter 3 Valuing the Environment: Methods 33
Introduction 33
Why Value the Environment? 34
Valuing Benefits 34
Types of Values 36
Example 3.1 Valuing the Northern Spotted Owl 37
Classifying Valuation Methods 38
Example 3.2 Valuing Damage from Groundwater Contamination Using Averting Expenditures 42
Example 3.3 Valuing Diesel Odor Reduction by Contingent Ranking 44
Example 3.4 The Value of Wildlife Viewing 45
Valuing Human Life 46
Issues in Benefit Estimation 46
Debate 3.1 Is Valuing Human Life Immoral? 47
Primary Versus Secondary Effects 47
Tangible Versus Intangible Benefits 49
Approaches to Cost Estimation 49
The Survey Approach 49
The Engineering Approach 49
The Combined Approach 50
The Treatment of Risk 50
Choosing the Discount Rate 52
Example 3.5 The Historical Importance of the Discount Rate 53
A Critical Appraisal 54
Cost-Effectiveness Analysis 56
Impact Analysis 57
Example 3.6 NO2 Control in Chicago: An Example of 
Cost-Effectiveness Analysis 58
Summary 59
Discussion Questions 60
Problems 60
Further Reading 61
Chapter 4 Property Rights, Externalities, and 
Environmental Problems 62
Introduction 62
Property Rights 63
Property Rights and Efficient Market Allocations 63
Efficient Property Right Structures 63
Example 4.1 Pollution in Centrally Planned Economies 64
Producer's Surplus, Scarcity Rent, and Long-Run 
Competitive Equilibrium 67
Scarcity Rent 67
Externalities as a Source of Market Failure 68
The Concept Introduced 68
Types of Externalities 69
Improperly Designed Property Rights Systems 70
Other Property Rights Regimes 70
Example 4.2 Shrimp Farming Externalities in Thailand 71
Public Goods 74
Imperfect Market Structures 76
Example 4.3 Public Goods Privately Provided: 
The Nature Conservancy 77
Divergence of Social and Private Discount Rates 78
Example 4.4 How Should OPEC Price Its Oil? 79
Government Failure 80
The Pursuit of Efficiency 81
Private Resolution Through Negotiation 81
The Courts: Property Rules and Liability Rules 81
Legislative and Executive Regulation 84
An Efficient Role for Government 85
Summary 85
Discussion Questions 86
Problems 86
Further Reading 87
Chapter 5 Sustainable Development: Defining
the Concept 88
Introduction 88
A Two-Period Model 89
Defining Intertemporal Fairness 93
Are Efficient Allocations Fair? 94
Applying the Sustainability Criterion 95
Example 5.1 The Alaska Permanent Fund 96
Example 5.2 Nauru: Weak Sustainability in the Extreme 98
Implications for Environmental Policy 99
Summary 99
Discussion Questions 100
Problems 101
Further Reading 101
Appendix 102
The Mathematics of the Two-Period Model 102
Chapter 6 The Population Problem 103
Introduction 103
Historical Perspective 104
World Population Growth 104
Population Growth in the United States 104
Effects of Population Growth on Economic Development 108
The Population/Environment Connection 114
Effects of Economic Development on Population Growth 114
Debate 6.1 Does Population Growth Inevitably Degrade the Environment? 115
The Economic Approach to Population Control 118
Example 6.1 Achieving Fertility Declines in Low-Income Countries: The Case of Kerala 123
Summary 124
Example 6.2 Income-Generating Activities as Fertility Control: Bangladesh 125
Discussion Questions 126
Problems 126
Further Reading 126
Chapter 7 The Allocation of Depletable and Renewable Resources: An Overview 128
Introduction 128
A Resource Taxonomy 129
Efficient Intertemporal Allocations 133
The Two-Period Model Revisited 133
The N-Period Constant-Cost Case 134
Transition to a Renewable Substitute 135
Increasing Marginal Extraction Cost 137
Exploration and Technological Progress 139
Market Allocations 140
Appropriate Property Right Structures 140
Example 7.1 Technological Progress in the Iron Ore Industry 141
Environmental Costs 142
Summary 144
Problems 145
Further Reading 145
Appendix 146
Extensions of the Basic Depletable Resource Model 146
The N-Period, Constant-Cost, No-Substitute Case 146
Constant Marginal Cost with an Abundant 
Renewable Substitute 147
Increasing Marginal Cost Case 148
Including Environmental Cost 149
Chapter 8 Depletable, Nonrecyclable Energy Resources: Oil, Gas, Coal, and Uranium 150
Introduction 150
Example 8.1 Hubbert's Peak 151
Natural Gas: Price Controls 152
Oil: The Cartel Problem 157
Price Elasticity of Demand 157
Income Elasticity of Demand 158
Non-OPEC Suppliers 159
Compatibility of Member Interests 161
Oil: National Security Problem 162
Debate 8.1 How Should the United States Deal with the Vulnerability of Its Imported Oil? 164
Transition Fuels: Environmental Problems 166
Electricity 170
Example 8.2 Electricity Deregulation in California: 
What Happened? 173
The Long Run 174
Example 8.3 Tradable Energy Certificates: 
The Texas Experience 175
Summary 178
Discussion Questions 179
Problems 179
Further Reading 180
Chapter 9 Recyclable Resources: Minerals, Paper, Glass, and More 181
Introduction 181
An Efficient Allocation of Recyclable Resources 182
Extraction and Disposal Cost 182
Example 9.1 Population Density and Recycling: 
The Japanese Experience 183
Recycling: A Closer Look 184
Recycling and Virgin Ore Depletion 184
The Strategic-Material Problem Revisited 185
General Principles 185
Example 9.2 Lead Recycling 186
Government Response 187
Cobalt: A Case Study 187
Substitution and Vulnerability 188
Waste Disposal and Pollution Damage 189
Disposal Cost and Efficiency 189
The Disposal Decision 190
Disposal Costs and the Scrap Market 192
Subsidies on Raw Materials 192
Corrective Public Policies 193
Example 9.3 Pricing Trash in Marietta, Georgia 194
Pollution Damage 196
Example 9.4 Implementing the "Take-Back" Principle 197
Tax Treatment of Minerals 198
Product Durability 199
Functional Obsolescence 199
Fashion Obsolescence 200
Durability Obsolescence 200
Summary 202
Discussion Questions 203
Problems 204
Further Reading 204
Chapter 10 Replenishable but Depletable Resources: Water 206
Introduction 206
The Potential for Water Scarcity 207
The Efficient Allocation of Scarce Water 210
Surface Water 210
Groundwater 212
The Current Allocation System 213
Riparian and Prior Appropriation Doctrines 213
Sources of Inefficiency 215
Restrictions on Transfers 215
Federal Reclamation Projects and Agricultural 
Water Pricing 216
Municipal and Industrial Water Pricing 217
Debate 10.1 What Is the Value of Water? 218
Instream Flows 218
Common Property Problems 219
Potential Remedies 219
Example 10.1 Using Economic Principles to Conserve Water 
in California 220
Example 10.2 Protecting Instream Uses Through Acquiring Water Rights 222
Example 10.3 Water Pricing in Zurich, Switzerland 226
Example 10.4 Politics and the Pricing of Scarce Water 228
Debate 10.2 Should Water Systems Be Privatized? 229
Summary 230
Discussion Questions 231
Problems 231
Further Reading 231
Chapter 11 Reproducible Private-Property Resources: Agriculture 233
Introduction 233
Global Scarcity 234
Formulating the Global Scarcity Hypothesis 235
Testing the Hypothesis 237
Outlook for the Future 237
Technological Progress 238
Allocation of Agricultural Land 239
Energy Costs 240
Environmental Costs 240
The Role of Agricultural Policies 243
Example 11.1 Do Mandatory Labels Correct 
Externalities? 245
A Summing Up 246
Distribution of Food Resources 246
Defining the Problem 246
Debate 11.1 Should Genetically Modified Organisms 
Be Banned? 247
Example 11.2 Are Consumers Willing to Pay a Premium for GMO-Free Foods? 248
Domestic Production in Less Developed Countries 248
The Undervaluation Bias 250
Feeding the Poor 251
Feast and Famine Cycles 252
Summary 256
Discussion Questions 256
Problems 257
Further Reading 257
Chapter 12 Storable, Renewable Resources: Forests 258
Introduction 258
Characterizing Forest Harvesting Decisions 260
Special Attributes of the Timber Resource 260
The Biological Dimension 260
The Economics of Forest Harvesting 261
Extending the Basic Model 265
Land Conversion 267
Sources of Inefficiency 268
Perverse Incentives for the Landowner 269
Perverse Incentives for Nations 271
Biodiversity 271
Climate Change 272
Poverty and Debt 272
Sustainable Forestry 273
Public Policy 274
Changing Incentives 276
Debt-Nature Swaps 276
Example 12.1 Producing Sustainable Forestry Through Certification 277
Extractive Reserves 278
Conservation Easements and Land Trusts 278
The World Heritage Convention 279
Royalty Payments 280
Summary 280
Example 12.2 Does Pharmaceutical Demand Offer Sufficient Protection to Biodiversity? 281
Example 12.3 Trust Funds for Habitat Preservation 282
Discussion Questions 283
Problems 284
Further Reading 284
Appendix 285
The Harvesting Decision: Forests 285
Chapter 13 Renewable Common-Pool Resources: Fisheries and Other Species 286
Introduction 286
Efficient Allocations 287
The Biological Dimension 287
Static Efficient Sustainable Yield 289
Dynamic Efficient Sustainable Yield 291
Appropriability and Market Solutions 293
Example 13.1 Open-Access Harvesting of the Minke Whale 296
Example 13.2 Harbor Gangs of Maine 297
Public Policy Toward Fisheries 297
Aquaculture 297
Raising the Real Cost of Fishing 299
Taxes 301
Individual Transferable Quotas (ITQs) 302
Marine Reserves 305
Example 13.3 The Relative Effectiveness of Transferable Quotas and Traditional Size and Effort Restrictions in the Atlantic Sea Scallop Fishery 306
The 200-Mile Limit 308
The Economics of Enforcement 308
Preventing Poaching 309
Example 13.4 Local Approaches to Wildlife Protection: Zimbabwe 310
Summary 311
Discussion Questions 311
Problems 312
Further Reading 312
Appendix 313
The Harvesting Decision: Fisheries 313
Chapter 14 Generalized Resource Scarcity 316
Introduction 316
Factors Mitigating Resource Scarcity 317
Exploration and Discovery 317
Technological Progress 318
Substitution 318
Detecting Resource Scarcity 319
Example 14.1 Resource Scarcity in Historical 
Perspective: Timber 320
Criteria for an Ideal Scarcity Indicator 320
Applying the Criteria 321
The Physical Indicators 321
Resource Prices 322
Scarcity Rent 323
Marginal Discovery Cost 324
Marginal Extraction Cost 324
Evidence on Resource Scarcity 325
Physical Indicators 325
Economic Indicators 329
Extraction Cost 329
Example 14.2 Geochemically Scarce Metals: How Would the Economy React? 330
Example 14.3 The Bet 333
Studies of Resource Price Trends 333
Discovery Cost 335
Juxtaposing Alternative Measures 335
Summary 336
Further Reading 336
Chapter 15 Economics of Pollution Control: 
An Overview 338
Introduction 338
A Pollutant Taxonomy 339
Defining the Efficient Allocation of Pollution 340
Stock Pollutants 340
Fund Pollutants 342
Market Allocation of Pollution 344
Efficient Policy Responses 345
Example 15.1 Environmental Taxation in China 346
Cost-Effective Policies for Uniformly Mixed 
Fund Pollutants 347
Defining a Cost-Effective Allocation 347
Cost-Effective Pollution Control Policies 348
Emission Standards 349
Emission Charges 349
Transferable Emission Permits 352
Cost-Effective Policies for Nonuniformly Mixed 
Surface Pollutants 353
Debate 15.1 Should Developing Countries Rely on Market-Based Instruments to Control Pollution? 354
The Single-Receptor Case 355
Policy Approaches 357
The Many-Receptors Case 359
Other Policy Dimensions 360
The Revenue Effect 360
Responses to Changes in the Regulatory 
Environment 361
Example 15.2 The Swedish Nitrogen Charge 362
Instrument Choice Under Uncertainty 363
Product Charges: Another Form of Environmental 
Taxation 364
Summary 364
Example 15.3 The Irish Bag Levy 365
Discussion Questions 367
Problems 367
Further Reading 367
Appendix 368
The Simple Mathematics of Cost-Effective 
Pollution Control 368
Policy Instruments 369
Chapter 16 Stationary-Source Local 
Air Pollution 370
Introduction 370
Conventional Pollutants 371
The Command-and-Control Policy Framework 371
Debate 16.1 Should the New Source Review Program 
Be Changed? 374
The Efficiency of the Command-and-Control 
Approach 375
The Threshold Concept 376
The Level of the Ambient Standard 376
Debate 16.2 The Particulate and Smog Ambient Standards Controversy 377
Uniformity 377
Timing of Emission Flows 378
Concentration Versus Exposure 378
Cost-Effectiveness of the Command-and-Control 
Approach 378
Air Quality 379
Example 16.1 Controlling SO2 Emissions by Command-and-Control in Germany 381
Innovative Approaches 383
The Emissions Trading Program 383
The Emission Reduction Credit 383
The Offset Policy 384
The Bubble Policy 384
Netting 384
Banking 385
The Effectiveness of Emissions Trading 385
Smog Trading 387
Emission Charges 388
Hazardous Pollutants 389
Example 16.2 Technology Diffusion in the Chlorine Manufacturing Sector 392
Summary 392
Discussion Questions 393
Problems 394
Further Reading 394
Chapter 17 Regional and Global Air Pollutants: Acid Rain and Atmospheric 
Modification 395
Introduction 395
Regional Pollutants 396
Acid Rain 396
What Is It? 396
The Effects 396
Example 17.1 Adirondack Acidification 397
The Transboundary Problem 398
Crafting a Policy 398
The Sulfur Allowance Program 400
Example 17.2 The Sulfur Allowance Program 401
Example 17.3 Why and How Do Environmentalists 
Buy Pollution? 402
Results of the Program 403
Global Pollutants 404
Ozone Depletion 404
Climate Change 407
Example 17.4 Tradable Permits for Ozone-Depleting 
Chemicals 408
Debate 17.1 Should Carbon Sequestration Be Credited? 411
Negotiations Over Climate-Change Policy Options 411
International Agreements on Climate Change 412
Example 17.5 The European Emissions Trading System 
(EU ETS) 414
Complementary Strategies 414
The Case for Emissions Trading 415
Controversies 416
The Timing of Policy 416
Debate 17.2 Is Global Greenhouse Gas Trading Immoral? 417
Creating Incentives for Participation in Climate-Change Agreements 418
Summary 419
Problems 421
Further Reading 421
Chapter 18 Mobile-Source Air Pollution 422
Introduction 422
The Economics of Mobile-Source Pollution 424
Implicit Subsidies 424
Externalities 424
Consequences 425
Policy Toward Mobile Sources 426
History 426
Structure of the U.S. Approach 427
Certification Program 427
Associated Enforcement Program 427
Lead 428
Local Responsibilities 428
Alternative Fuels and Vehicles 429
Example 18.1 Project XL-The Quest for Effective, 
Flexible Regulation 430
European Approaches 430
An Economic and Political Assessment 431
Example 18.2 Car-Sharing: Better Use of Automotive 
Capital? 432
Technology Forcing and Sanctions 433
Differentiated Regulation 433
Uniformity of Control 434
The Deterioration of New-Car Emission Rates 434
Inspection and Maintenance (I&M) Programs 434
Alternative Fuels 435
Lead Phaseout Program 436
Possible Reforms 436
Fuel Taxes 436
Example 18.3 Getting the Lead Out: The Lead Phaseout Program 437
Congestion Pricing 437
Private Toll Roads 438
CAFE Standards 438
Example 18.4 Innovative Mobile-Source Pollution Control Strategies: Singapore 439
Debate 18.1 CAFE Standards or Fuel Taxes? 440
Parking Cash-Outs 441
Feebates 441
Pay-As-You-Drive (PAYD) Insurance 441
Accelerated Retirement Strategies 441
Example 18.5 Modifying Car Insurance as an Environmental Strategy 442
Example 18.6 Counterproductive Policy Design 443
Summary 443
Discussion Questions 445
Further Reading 445
Chapter 19 Water Pollution 446
Introduction 446
Nature of Water Pollution Problems 447
Types of Waste-Receiving Water 447
Sources of Contamination 447
Example 19.1 Incidents of Groundwater Pollution 448
Rivers and Lakes 448
Ocean Pollution 449
Types of Pollutants 450
Fund Pollutants 451
Stock Pollutants 452
Traditional Water Pollution Control Policy 453
Early Legislation 453
Subsequent Legislation 454
Point Sources 454
Nonpoint Sources 456
The Safe Drinking Water Act 456
Ocean Pollution 457
Oil Spills 457
Ocean Dumping 457
Citizen Suits 457
Efficiency and Cost-Effectiveness 458
Ambient Standards and the Zero-Discharge Goal 458
National Effluent Standards 459
Enforcement Problems 459
Allocating Control Responsibility 460
The European Experience 463
Example 19.2 Effluent Trading and the Cost of Reducing 
Waste Treatment Discharges into Long 
Island Sound 464
Municipal Waste Treatment Subsidies 466
The Allocation of Funds 466
Operation and Maintenance 466
Capital Costs 467
Pretreatment Standards 467
Nonpoint Pollution 467
Costs 467
Example 19.3 Cost-Effective Pretreatment Standards 468
Oil Spills 469
Citizen Suits 471
An Overall Assessment 472
Summary 473
Discussion Questions 474
Problem 474
Further Reading 474
Chapter 20 Toxic Substances 475
Introduction 475
Nature of Toxic Substance Pollution 476
Health Effects 477
Cancer 477
Reproductive Effects 477
Policy Issues 477
Number of Substances 477
Latency 478
Uncertainty 478
Market Allocations and Toxic Substances 479
Occupational Hazards 479
Example 20.1 Susceptible Populations in the 
Hazardous Workplace 482
Product Safety 483
Third Parties 484
Current Policy 484
Common Law 484
Negligence 484
Example 20.2 Judicial Remedies in Toxic Substance Control: The Kepone Case 485
Strict Liability 486
Criminal Law 486
Statutory Law 487
Federal Food, Drug, and Cosmetic Act 487
Occupational Safety and Health Act 488
Federal Environmental Pesticide Control Act 488
Resource Conservation and Recovery Act 488
Toxic Substances Control Act 489
Comprehensive Environmental Response, Compensation, and Liability Act 489
The Toxic Release Inventory Program 490
The 33/50 Program 491
Proposition 65 491
International Agreements 492
An Assessment of the Legal Remedies 492
The Common Law 492
Judicial-Legislative Complementarity 492
Limitations of Judicial Remedies 493
Joint and Several Liability Doctrine 495
The Statutory Law 496
Balancing the Costs 496
Degree and Form of Intervention 497
Scale 498
Performance Bonds: An Innovative Proposal 498
Summary 499
Example 20.3 Performance Bonds for Brominated 
Flame Retardants 500
Discussion Questions 501
Further Reading 501
Chapter 21 Environmental Justice 503
Introduction 503
The Incidence of Hazardous Waste Siting Decisions 504
History 504
Recent Research and the Emerging Role of Analysis 
Using GIS 505
The Economics of Site Location 506
The Policy Response 507
Environmental Justice in Canada and Europe 508
The Role of Risk Perception 509
Compensation as a Policy Instrument 509
Debate 21.1 Does Offering Compensation for Accepting an Environmental Risk Always Increase the Willingness to Accept the Risk? 510
The Incidence of Pollution Control Costs: 
Individual Industries 510
A Competitive Industry 511
Incidence 511
Scale Effects 512
Monopoly 513
New-Source Bias 515
Debate 21.2 Jobs Versus the Environment: 
Which Side Is Right? 516
The Generation of Pollutants 517
The Incidence on Households 517
Air Pollution 517
Automobile Control 517
Stationary-Source Control 519
A Combined Assessment 520
Greenhouse Gas Control 521
Water Pollution 521
Point Sources 522
Implications for Policy 523
Example 21.1 Distributional Impacts of RECLAIM 524
Summary 525
Discussion Questions 526
Further Reading 526
Chapter 22 Development, Poverty, 
and the Environment 527
Introduction 527
The Growth Process 528
Nature of the Process 528
Increases in Inputs 528
Technological Progress 529
Potential Sources of Reduced Growth 529
Reduced Input Flows 529
Limits on Technological Progress 531
The Natural Resource Curse 532
Example 22.1 The "Natural Resource Curse" Hypothesis 532
Environmental Policy 533
Energy 533
Example 22.2 Jobs Versus the Environment: 
What Is the Evidence? 534
Outlook for the Near Future 536
Population Impacts 536
The Information Economy 537
The Growth-Development Relationship 537
Conventional Measures 538
Alternative Measures 540
Adjusted Net Savings 540
Genuine Progress Indicator 541
Ecological Footprint 542
The Human Development Index 542
Growth and Poverty: The Industrialized Nations 543
The Effects on Income Inequality 543
Poverty in the Less Industrialized Nations 544
Appropriateness of the Traditional Model 545
Scale 545
Forms of Development 545
Barriers to Development 546
Population Growth 546
Land-Ownership Patterns 546
Trade Policies 547
Debt 548
Natural Disasters 549
Summary 549
Discussion Questions 551
Further Reading 551
Chapter 23 The Quest for Sustainable Development 552
Introduction 552
Sustainability of Development 553
Market Allocations 555
Efficiency and Sustainability 556
Example 23.1 Resource Depletion and Economic Sustainability: Malaysia 558
Trade and the Environment 560
The Role of Property Rights 560
Pollution Havens and the Race to the Bottom 560
The Porter "Induced Innovation" Hypothesis 561
The Environmental Kuznets Curve 562
Example 23.2 Has NAFTA Improved the Environment 
in Mexico? 563
Investor Protections: NAFTA's Chapter 11 564
Trade Rules Under GATT and the WTO 565
Debate 23.1 Should an Importing Country Be Able to Use Trade Restrictions to Influence Harmful Fishing Practices in an Exporting Nation? 566
A Menu of Opportunities 567
Agriculture 567
Energy 568
Waste Reduction 568
Managing the Transition 569
Example 23.3 Sustainable Development: 
Three Success Stories 570
Opportunities for Cooperation 571
Example 23.4 Controlling Land Development 
with TDRs 572
Restructuring Incentives 573
The Full-Cost Principle 574
The Cost-Effectiveness Principle 575
The Property Rights Principle 576
The Sustainability Principle 577
The Information Principle 578
Example 23.5 Reputational Strategies for Pollution Control 
in Indonesia 579
Forced Transition 579
Defining the Target 580
Institutional Structure 580
Population Stabilization 580
Stock and Throughput Stabilization 581
Ensuring Distributional Fairness 581
Administration 581
Summary 582
Discussion Questions 583
Further Reading 584
Chapter 24 Visions of the Future Revisited 585
Addressing the Issues 585
Conceptualizing the Problem 585
Institutional Responses 587
Example 24.1 Private Incentives for Sustainable Development: Can Adopting Sustainable Practices Be Profitable? 588
Sustainable Development 591
Example 24.2 Public/Private Partnerships: The Kalundborg Experience 593
A Concluding Comment 595

Library of Congress Subject Headings for this publication:

Environmental economics.
Environmental policy.
Natural resources -- Government policy.
Raw materials -- Government policy.