Environmental economics is dedicated to the analysis of externalities (i.e. the side-effects or consequences of industrial or commercial activities that are not reflected in market prices), including the characterization of possible manifestations, appropriate policy remedies, measurement of the benefits and costs of treating externalities, and the implications for both short- and long-term societal well-being. Such analyses embrace a large number of increasingly urgent issues, including efficiency (are decisions made in such a way as to minimize costs to society?), scarcity (are we running out of key resources, including environmental attributes such as clean drinking water and clean air?), and sustainability (will future generations be able to enjoy a similar standard of living as do current generations?).

In four volumes, this new Routledge Major Work brings together the best foundational and cutting-edge research on these and other vital topics to provide a conspectus of a vibrant and internationally important field. It is an essential work of reference and is destined to be valued by all scholars and students of environmental economics as a vital one-stop research and pedagogic resource.