Growing populations and economies have increased the public's awareness that the world's environmental resources are finite. The issues of global warming and the depletion of the ozone layer have given universal significance to what were once local and regional pollution problems. What is evident from this book is that Coasian negotiations fail to internalize the costs of environmental degradation, often calling for public intervention through the market mechanism. In its consideration of such issues, the book includes contributions on assessment problems, institutional aspects, the need for co-ordination and efficiency, and distribution issues.
