SECTION ONE Introduction 1
1 What Is Environmental Economics? 2
2 The Economy and the Environment 23
SECTION TWO Analytical Tools 43
3 Benefits and Costs,Supply and Demand 44
4 Economic Efficiency and Markets 65
5 The Economics of Environmental Quality 84
SECTION THREE Environmental Analysis 111
6 Frameworks of Analysis 112
7 Benefit-Cost Analysis:Benefits 137
8 Benefit-Cost Analysis:Costs 161
SECTION FOUR Environmental Policy Analysis 181
9 Criteria for Evaluating Environmental Policies 182
10 Decentralized Policies:Liability Laws,Property Rights,Voluntary Action 194
11 Command-and-Control Strategies:The Case of Standards 212
12 Incentive-Based Strategies:Emission Charges and Subsidies 232
13 Incentive-Based Strategies:Transferable Discharge Permits 255
SECTION FIVE Environmental Policy in the United States 273
14 Federal Water Pollution-Control Policy 274
15 Federal Air Pollution Control Policy 300
16 Federal Policy on Toxic and Hazardous Substances 329
17 State and Local Environmental Issues 356
SECTION SIX International Environmental Issues 381
18 Comparative Environmental Policies 382
19 Economic Development and the Environment 399
20 The Global Environment 423
21 International Environmental Agreements 448
APPENDIX 468
Abbreviations and Acronyms Used in the Book 468