Edited by Robert N. Stavins, A.J. Meyer Professor of Energy and Economic Development, John F. Kennedy School of Government, Harvard University; University Fellow, Resources for the Future; and Research Associate, National Bureau of Economic Research, US

• Contents:Acknowledgements IntroductionRobert N. Stavins PART IOVERVIEW AND PRINCIPLES1. Don Fullerton and Robert Stavins (1998), ‘How economists see the environment’, Nature, 395, October, 433–4 2. R. H. Coase (1960), ‘The problem of social cost’, Journal of Law and Economics, 3, October, 1–44PART IITHE COSTS AND BENEFITS OF ENVIRONMENTAL PROTECTION3. Antoine Dechezleprêtre and Misato Sato (2017), ‘The impacts of environmental regulations on competitiveness’, Review of Environmental Economics and Policy, 11 (2), July, 183–206 4. Trudy Ann Cameron (2010), ‘Euthanizing the value of a statistical life’, Review of Environmental Economics and Policy, 4 (2), July, 161–78 5. Richard T. Carson (2012), ‘Contingent valuation: a practical alternative when prices aren’t available’, Journal of Economic Perspectives, 26 (4), Fall, 27–42 6. Catherine L. Kling, Daniel J. Phaneuf and Jinhua Zhao (2012), ‘From Exxon to BP: has some number become better than no number?’, Journal of Economic Perspectives, 26 (4), Fall, 3–267. Jerry Hausman (2012), ‘Contingent valuation: from dubious to hopeless’, Journal of Economic Perspectives, 26 (4), Fall, 43–56 PART IIITHE GOALS OF ENVIRONMENTAL POLICY: ECONOMIC EFFICIENCY AND BENEFIT–COST ANALYSIS8. Kenneth J. Arrow, Maureen L. Cropper, George C. Eads, Robert W. Hahn, Lester B. Lave, Roger G. Noll, Paul R. Portney, Milton Russell, Richard Schmalensee, V. Kerry Smith and Robert N. Stavins (1996), ‘Is there a role for benefit-cost analysis in environmental, health, and safety regulation?’ Science, 272 (5259), April, 221–2 9. Lawrence H. Goulder and Robert N. Stavins (2002), ‘An eye on the future’, Nature, 419, October, 673–4 10. K. Arrow, M. Cropper, C. Gollier, B. Groom, G. Heal, R. Newell, W. Nordhaus, R. Pindyck, W. Pizer, P. Portney, T. Sterner, R. S. J. Tol and M. Weitzman (2013), ‘Determining benefits and costs for future generations’, Science, 341 (6144), July, 349–50 11. Ted Gayer and W. Kip Viscusi (2016), ‘Resisting abuses of benefit–cost analysis’, National Affairs, 35, Spring, 59–71 PART IVTHE MEANS OF ENVIRONMENTAL POLICY: COST EFFECTIVENESS AND MARKET-BASED INSTRUMENTS12. Richard Schmalensee and Robert N. Stavins (2017), ‘Lessons learned from three decades of experience with cap and trade’, Review of Environmental Economics and Policy, 11 (1), Winter, 59–79 13. Richard Schmalensee and Robert N. Stavins (2013), ‘The SO2 allowance trading system: the ironic history of a grand policy experiment’, Journal of Economic Perspectives, 27 (1), Winter, 103–22 14. Karen Fisher-Vanden and Sheila Olmstead (2013), ‘Moving pollution trading from air to water: potential, problems, and prognosis’, Journal ofEconomic Perspectives, 27 (1), Winter, 147–72 PART V ECONOMICS OF NATURAL RESOURCES15. Robert M. Solow (1974), ‘The economics of resources or the resources of economics’, American Economic Review, 64 (2), May, 1–14 16. Thomas Covert, Michael Greenstone and Christopher R. Knittel (2016), ‘Will we ever stop using fossil fuels?’, Journal of Economic Perspectives, 30 (1), Winter, 117–38 17. Sheila M. Olmstead (2010), ‘The economics of managing scarce water resources’, Review of Environmental Economics and Policy, 4 (2), Summer, 179–98 18. Severin Borenstein (2012), ‘The private and public economics of renewable electricity generation’, Journal of Economic Perspectives, 26 (1), Winter, 67–92 PART VI GLOBAL CLIMATE CHANGE19. Joseph E. Aldy, Alan J. Krupnick, Richard G. Newell, Ian W. H. Parry and William A. Pizer (2010), ‘Designing climate mitigation policy’, Journal of Economic Literature, 48 (4), December, 903–34 20. William Nordhaus (2007), ‘Critical assumptions in the Stern Review on climate change’, Science, 317 (5835), July, 201–2 21. Nicholas Stern and Chris Taylor (2007), ‘Climate change: risk, ethics, and the Stern Review’, Science, 317 (5835), July, 203–4 22. Richard G. Newell, William A. Pizer and Daniel Raimi (2013), ‘Carbon markets 15 years after Kyoto: lessons learned, new challenges’, Journal of Economic Perspectives, 27 (1), Winter, 123–46 23. Daniel M. Bodansky, Seth A. Hoedl, Gilbert E. Metcalf and Robert N. Stavins (2016), ‘Facilitating linkage of climate policies through the Paris outcome’, Climate Policy, 16 (8), 956–72 24. Richard S. J. Tol (2018), ‘The economic impacts of climate change’, Review of Environmental Economics and Policy, 12 (1), Winter, 4–25 PART VII SUSTAINABILITY, THE COMMONS, AND GLOBALIZATION25. Robert M. Solow (1992), ‘Sustainability: an economist’s perspective’,National Geographic: Research and Exploration, 8, 10–21 26. Elinor Ostrom (2009), ‘A general framework for analyzing sustainability of social-ecological systems’, Science, 325 (5939), July, 419–22 27. Robert N. Stavins (2011), ‘The problem of the commons: still unsettled after 100 years’, American Economic Review, 101 (1), February, 81–10828. Forest L. Reinhardt, Robert N. Stavins and Richard H. K. Vietor (2008), ‘Corporate social responsibility through an economic lens’, Review of Environmental Economics and Policy, 2 (2), Summer, 219–39 29. Michael Greenstone and B. Kelsey Jack (2018), ‘Environmental economics in developing countries: an emerging field’ PART VIII BEHAVIORAL ECONOMICS AND THE ENVIRONMENT30. Jason F. Shogren and Laura O. Taylor (2008), ‘On behavioral-environmental economics’, Review of Environmental Economics and Policy, 2 (1), Winter, 26–44 31. Cass R. Sunstein and Lucia A. Reisch (2014), ‘Automatically green: behavioural economics and environmental protection’, Harvard Environmental Law Review, 38 (1), 127–58 32. Todd D. Gerarden, Richard G. Newell and Robert N. Stavins (2017), ‘Assessing the energy-efficiency gap’, Journal of Economic Literature, 55 (4), December, 1486–525 PART IX ECONOMICS AND ENVIRONMENTAL POLICY MAKING33. A. Myrick Freeman III (2002), ‘Environmental policy since Earth Day I: what have we gained?’, Journal of Economic Perspectives, 16 (1), Winter, 125–46 34. Robert W. Hahn (2000), ‘The impact of economics on environmental policy’, Journal of Environmental Economics and Management, 39 (3), May, 375–99 Index

Edited by Robert N. Stavins, A.J. Meyer Professor of Energy and Economic Development, John F. Kennedy School of Government, Harvard University; University Fellow, Resources for the Future; and Research Associate, National Bureau of Economic Research, US

• Contents:Acknowledgements IntroductionRobert N. Stavins PART IOVERVIEW AND PRINCIPLES1. Don Fullerton and Robert Stavins (1998), ‘How economists see the environment’, Nature, 395, October, 433–4 2. R. H. Coase (1960), ‘The problem of social cost’, Journal of Law and Economics, 3, October, 1–44PART IITHE COSTS AND BENEFITS OF ENVIRONMENTAL PROTECTION3. Antoine Dechezleprêtre and Misato Sato (2017), ‘The impacts of environmental regulations on competitiveness’, Review of Environmental Economics and Policy, 11 (2), July, 183–206 4. Trudy Ann Cameron (2010), ‘Euthanizing the value of a statistical life’, Review of Environmental Economics and Policy, 4 (2), July, 161–78 5. Richard T. Carson (2012), ‘Contingent valuation: a practical alternative when prices aren’t available’, Journal of Economic Perspectives, 26 (4), Fall, 27–42 6. Catherine L. Kling, Daniel J. Phaneuf and Jinhua Zhao (2012), ‘From Exxon to BP: has some number become better than no number?’, Journal of Economic Perspectives, 26 (4), Fall, 3–267. Jerry Hausman (2012), ‘Contingent valuation: from dubious to hopeless’, Journal of Economic Perspectives, 26 (4), Fall, 43–56 PART IIITHE GOALS OF ENVIRONMENTAL POLICY: ECONOMIC EFFICIENCY AND BENEFIT–COST ANALYSIS8. Kenneth J. Arrow, Maureen L. Cropper, George C. Eads, Robert W. Hahn, Lester B. Lave, Roger G. Noll, Paul R. Portney, Milton Russell, Richard Schmalensee, V. Kerry Smith and Robert N. Stavins (1996), ‘Is there a role for benefit-cost analysis in environmental, health, and safety regulation?’ Science, 272 (5259), April, 221–2 9. Lawrence H. Goulder and Robert N. Stavins (2002), ‘An eye on the future’, Nature, 419, October, 673–4 10. K. Arrow, M. Cropper, C. Gollier, B. Groom, G. Heal, R. Newell, W. Nordhaus, R. Pindyck, W. Pizer, P. Portney, T. Sterner, R. S. J. Tol and M. Weitzman (2013), ‘Determining benefits and costs for future generations’, Science, 341 (6144), July, 349–50 11. Ted Gayer and W. Kip Viscusi (2016), ‘Resisting abuses of benefit–cost analysis’, National Affairs, 35, Spring, 59–71 PART IVTHE MEANS OF ENVIRONMENTAL POLICY: COST EFFECTIVENESS AND MARKET-BASED INSTRUMENTS12. Richard Schmalensee and Robert N. Stavins (2017), ‘Lessons learned from three decades of experience with cap and trade’, Review of Environmental Economics and Policy, 11 (1), Winter, 59–79 13. Richard Schmalensee and Robert N. Stavins (2013), ‘The SO2 allowance trading system: the ironic history of a grand policy experiment’, Journal of Economic Perspectives, 27 (1), Winter, 103–22 14. Karen Fisher-Vanden and Sheila Olmstead (2013), ‘Moving pollution trading from air to water: potential, problems, and prognosis’, Journal ofEconomic Perspectives, 27 (1), Winter, 147–72 PART V ECONOMICS OF NATURAL RESOURCES15. Robert M. Solow (1974), ‘The economics of resources or the resources of economics’, American Economic Review, 64 (2), May, 1–14 16. Thomas Covert, Michael Greenstone and Christopher R. Knittel (2016), ‘Will we ever stop using fossil fuels?’, Journal of Economic Perspectives, 30 (1), Winter, 117–38 17. Sheila M. Olmstead (2010), ‘The economics of managing scarce water resources’, Review of Environmental Economics and Policy, 4 (2), Summer, 179–98 18. Severin Borenstein (2012), ‘The private and public economics of renewable electricity generation’, Journal of Economic Perspectives, 26 (1), Winter, 67–92 PART VI GLOBAL CLIMATE CHANGE19. Joseph E. Aldy, Alan J. Krupnick, Richard G. Newell, Ian W. H. Parry and William A. Pizer (2010), ‘Designing climate mitigation policy’, Journal of Economic Literature, 48 (4), December, 903–34 20. William Nordhaus (2007), ‘Critical assumptions in the Stern Review on climate change’, Science, 317 (5835), July, 201–2 21. Nicholas Stern and Chris Taylor (2007), ‘Climate change: risk, ethics, and the Stern Review’, Science, 317 (5835), July, 203–4 22. Richard G. Newell, William A. Pizer and Daniel Raimi (2013), ‘Carbon markets 15 years after Kyoto: lessons learned, new challenges’, Journal of Economic Perspectives, 27 (1), Winter, 123–46 23. Daniel M. Bodansky, Seth A. Hoedl, Gilbert E. Metcalf and Robert N. Stavins (2016), ‘Facilitating linkage of climate policies through the Paris outcome’, Climate Policy, 16 (8), 956–72 24. Richard S. J. Tol (2018), ‘The economic impacts of climate change’, Review of Environmental Economics and Policy, 12 (1), Winter, 4–25 PART VII SUSTAINABILITY, THE COMMONS, AND GLOBALIZATION25. Robert M. Solow (1992), ‘Sustainability: an economist’s perspective’,National Geographic: Research and Exploration, 8, 10–21 26. Elinor Ostrom (2009), ‘A general framework for analyzing sustainability of social-ecological systems’, Science, 325 (5939), July, 419–22 27. Robert N. Stavins (2011), ‘The problem of the commons: still unsettled after 100 years’, American Economic Review, 101 (1), February, 81–10828. Forest L. Reinhardt, Robert N. Stavins and Richard H. K. Vietor (2008), ‘Corporate social responsibility through an economic lens’, Review of Environmental Economics and Policy, 2 (2), Summer, 219–39 29. Michael Greenstone and B. Kelsey Jack (2018), ‘Environmental economics in developing countries: an emerging field’ PART VIII BEHAVIORAL ECONOMICS AND THE ENVIRONMENT30. Jason F. Shogren and Laura O. Taylor (2008), ‘On behavioral-environmental economics’, Review of Environmental Economics and Policy, 2 (1), Winter, 26–44 31. Cass R. Sunstein and Lucia A. Reisch (2014), ‘Automatically green: behavioural economics and environmental protection’, Harvard Environmental Law Review, 38 (1), 127–58 32. Todd D. Gerarden, Richard G. Newell and Robert N. Stavins (2017), ‘Assessing the energy-efficiency gap’, Journal of Economic Literature, 55 (4), December, 1486–525 PART IX ECONOMICS AND ENVIRONMENTAL POLICY MAKING33. A. Myrick Freeman III (2002), ‘Environmental policy since Earth Day I: what have we gained?’, Journal of Economic Perspectives, 16 (1), Winter, 125–46 34. Robert W. Hahn (2000), ‘The impact of economics on environmental policy’, Journal of Environmental Economics and Management, 39 (3), May, 375–99 Index

Edited by Robert N. Stavins, A.J. Meyer Professor of Energy and Economic Development, John F. Kennedy School of Government, Harvard University; University Fellow, Resources for the Future; and Research Associate, National Bureau of Economic Research, US

• Contents:Acknowledgements IntroductionRobert N. Stavins PART IOVERVIEW AND PRINCIPLES1. Don Fullerton and Robert Stavins (1998), ‘How economists see the environment’, Nature, 395, October, 433–4 2. R. H. Coase (1960), ‘The problem of social cost’, Journal of Law and Economics, 3, October, 1–44PART IITHE COSTS AND BENEFITS OF ENVIRONMENTAL PROTECTION3. Antoine Dechezleprêtre and Misato Sato (2017), ‘The impacts of environmental regulations on competitiveness’, Review of Environmental Economics and Policy, 11 (2), July, 183–206 4. Trudy Ann Cameron (2010), ‘Euthanizing the value of a statistical life’, Review of Environmental Economics and Policy, 4 (2), July, 161–78 5. Richard T. Carson (2012), ‘Contingent valuation: a practical alternative when prices aren’t available’, Journal of Economic Perspectives, 26 (4), Fall, 27–42 6. Catherine L. Kling, Daniel J. Phaneuf and Jinhua Zhao (2012), ‘From Exxon to BP: has some number become better than no number?’, Journal of Economic Perspectives, 26 (4), Fall, 3–267. Jerry Hausman (2012), ‘Contingent valuation: from dubious to hopeless’, Journal of Economic Perspectives, 26 (4), Fall, 43–56 PART IIITHE GOALS OF ENVIRONMENTAL POLICY: ECONOMIC EFFICIENCY AND BENEFIT–COST ANALYSIS8. Kenneth J. Arrow, Maureen L. Cropper, George C. Eads, Robert W. Hahn, Lester B. Lave, Roger G. Noll, Paul R. Portney, Milton Russell, Richard Schmalensee, V. Kerry Smith and Robert N. Stavins (1996), ‘Is there a role for benefit-cost analysis in environmental, health, and safety regulation?’ Science, 272 (5259), April, 221–2 9. Lawrence H. Goulder and Robert N. Stavins (2002), ‘An eye on the future’, Nature, 419, October, 673–4 10. K. Arrow, M. Cropper, C. Gollier, B. Groom, G. Heal, R. Newell, W. Nordhaus, R. Pindyck, W. Pizer, P. Portney, T. Sterner, R. S. J. Tol and M. Weitzman (2013), ‘Determining benefits and costs for future generations’, Science, 341 (6144), July, 349–50 11. Ted Gayer and W. Kip Viscusi (2016), ‘Resisting abuses of benefit–cost analysis’, National Affairs, 35, Spring, 59–71 PART IVTHE MEANS OF ENVIRONMENTAL POLICY: COST EFFECTIVENESS AND MARKET-BASED INSTRUMENTS12. Richard Schmalensee and Robert N. Stavins (2017), ‘Lessons learned from three decades of experience with cap and trade’, Review of Environmental Economics and Policy, 11 (1), Winter, 59–79 13. Richard Schmalensee and Robert N. Stavins (2013), ‘The SO2 allowance trading system: the ironic history of a grand policy experiment’, Journal of Economic Perspectives, 27 (1), Winter, 103–22 14. Karen Fisher-Vanden and Sheila Olmstead (2013), ‘Moving pollution trading from air to water: potential, problems, and prognosis’, Journal ofEconomic Perspectives, 27 (1), Winter, 147–72 PART V ECONOMICS OF NATURAL RESOURCES15. Robert M. Solow (1974), ‘The economics of resources or the resources of economics’, American Economic Review, 64 (2), May, 1–14 16. Thomas Covert, Michael Greenstone and Christopher R. Knittel (2016), ‘Will we ever stop using fossil fuels?’, Journal of Economic Perspectives, 30 (1), Winter, 117–38 17. Sheila M. Olmstead (2010), ‘The economics of managing scarce water resources’, Review of Environmental Economics and Policy, 4 (2), Summer, 179–98 18. Severin Borenstein (2012), ‘The private and public economics of renewable electricity generation’, Journal of Economic Perspectives, 26 (1), Winter, 67–92 PART VI GLOBAL CLIMATE CHANGE19. Joseph E. Aldy, Alan J. Krupnick, Richard G. Newell, Ian W. H. Parry and William A. Pizer (2010), ‘Designing climate mitigation policy’, Journal of Economic Literature, 48 (4), December, 903–34 20. William Nordhaus (2007), ‘Critical assumptions in the Stern Review on climate change’, Science, 317 (5835), July, 201–2 21. Nicholas Stern and Chris Taylor (2007), ‘Climate change: risk, ethics, and the Stern Review’, Science, 317 (5835), July, 203–4 22. Richard G. Newell, William A. Pizer and Daniel Raimi (2013), ‘Carbon markets 15 years after Kyoto: lessons learned, new challenges’, Journal of Economic Perspectives, 27 (1), Winter, 123–46 23. Daniel M. Bodansky, Seth A. Hoedl, Gilbert E. Metcalf and Robert N. Stavins (2016), ‘Facilitating linkage of climate policies through the Paris outcome’, Climate Policy, 16 (8), 956–72 24. Richard S. J. Tol (2018), ‘The economic impacts of climate change’, Review of Environmental Economics and Policy, 12 (1), Winter, 4–25 PART VII SUSTAINABILITY, THE COMMONS, AND GLOBALIZATION25. Robert M. Solow (1992), ‘Sustainability: an economist’s perspective’,National Geographic: Research and Exploration, 8, 10–21 26. Elinor Ostrom (2009), ‘A general framework for analyzing sustainability of social-ecological systems’, Science, 325 (5939), July, 419–22 27. Robert N. Stavins (2011), ‘The problem of the commons: still unsettled after 100 years’, American Economic Review, 101 (1), February, 81–10828. Forest L. Reinhardt, Robert N. Stavins and Richard H. K. Vietor (2008), ‘Corporate social responsibility through an economic lens’, Review of Environmental Economics and Policy, 2 (2), Summer, 219–39 29. Michael Greenstone and B. Kelsey Jack (2018), ‘Environmental economics in developing countries: an emerging field’ PART VIII BEHAVIORAL ECONOMICS AND THE ENVIRONMENT30. Jason F. Shogren and Laura O. Taylor (2008), ‘On behavioral-environmental economics’, Review of Environmental Economics and Policy, 2 (1), Winter, 26–44 31. Cass R. Sunstein and Lucia A. Reisch (2014), ‘Automatically green: behavioural economics and environmental protection’, Harvard Environmental Law Review, 38 (1), 127–58 32. Todd D. Gerarden, Richard G. Newell and Robert N. Stavins (2017), ‘Assessing the energy-efficiency gap’, Journal of Economic Literature, 55 (4), December, 1486–525 PART IX ECONOMICS AND ENVIRONMENTAL POLICY MAKING33. A. Myrick Freeman III (2002), ‘Environmental policy since Earth Day I: what have we gained?’, Journal of Economic Perspectives, 16 (1), Winter, 125–46 34. Robert W. Hahn (2000), ‘The impact of economics on environmental policy’, Journal of Environmental Economics and Management, 39 (3), May, 375–99 Index