Natural Resource Economics brings together in one accessible volume an outstanding selection of Allen V. Kneese's papers, published over the past 26 years, and ranging widely over natural resource economics including basic theory, empirical issues and policy analysis.Beginning with a broad overview of the field of natural resource economics, the first part includes papers dealing with ethics and environmental economics, efforts to develop a sustainable economy and optimal organization arrangements for environmental management. The second part explores the history of benefit-cost analysis and Dr Kneese's work on water allocation in arid areas, including the trading of water rights and water pricing. The final part focuses on environmental economics and policy, including the classic essay 'Production, Consumption and Externalities'.

Dr Kneese accompanies these papers with an authoritative introduction in which he briefly discusses his career and his role in the development of the now thriving field of environmental economics.