Environmental regulation and policy making are increasingly influenced by economic considerations. Over the past 30 years, Wallace E. Oates has been closely involved in the development of environmental economics as a distinct and vital field for theoretical study, applied research and policy prescription.Drawing key papers together in a systematic fashion, Professor Oates's collection begins with thoughtful overviews of the field and then continues with discussion of specific issues. Among the topics addressed are instruments for environmental regulation, the use of fees and taxes, emission permits, environmental federalism and global environmental management.

The Economics of Environmental Regulation includes a specially written introduction in which Professor Oates discusses the dramatic changes in environmental regulation and enforcement since the 1960s and the growing recognition of the importance of market approaches in environmental policy making.