In benefit-cost analysis, it is useful to model public goods as the quality of privately consumed nonmarketed goods. This strategy is often pursued in valuing environmental amenities. The theoretical foundations of this model have not been fully developed. In this paper, comparative statics...

Frontmatter -- Contents -- Preface to the Paperback Edition -- Preface to the First Edition -- Introduction -- Chapter 1. The Great Moderation -- Introduction -- Birth: Calm after the Storms -- Life: The Great Risk Shift -- Death: The Dissenters and Their Vindication -- Reanimation: A Global...