Energy conservation is widely accepted as an important strategy to combat climate change. It can, nevertheless, stimulate new energy uses that partly offset the original savings. This is known as rebound. One particular rebound mechanism is re-spending of money savings associated with energy...

There is currently much hope about environmental innovation and green technologies, notably as a response to the threat of climate change. This paper offers a critical perspective on the role of technological innovation to solving environmental problems, based on considering empirical economic...

Most insights of environmental economics are in line with the standard neo-classical economic model of rational behaviour, formulated in terms of maximisation of utility in general, or profits in particular. The standard theory of environmental policy is a case in point. However, the...

The equilibrium conditions for an economic system that produces output with several factors of production and which is subject to technological constraints are derived. Optimization of either output minus cost or integrated utility yields the conditions that output elasticities must be equal to...

The meaning of sustainability is the subject of intense debate among environmental and resourceeconomists. Perhaps no other issue separates more the traditional economic view of the naturalworld from the views of most natural scientists. The debate currently focuses on the...

The nature of energy and material resources in an endogenous growththeory framework isclarified. This involves three modifications of the conventionaltheory. Firstly, multiple feedbackmechanisms or “growth engines” are identified. Secondly, a productionfunction distinguishesbetween resource...

The rationale for conservation and creation of wetlands stems from the recognition of both their ecological and economic values. This paper examines the welfare impacts of goods and services provided by wetlands. We collected 385 estimates of the economic value of 181 natural and man-made...

Economic theories of managing renewable resources, such as fisheries and forestry, traditionally assume that individual harvesters are perfectly rational and thus able to compute the harvesting strategy that maximizes their discounted profits. The current paper presents an alternative approach...

Evolutionary economics offers clear insights into the mechanisms that underlie innovations, structural change and transitions. It is therefore of great value for the framing of policies aimed at fostering a transition to a sustainable development. This paper offers an overview of the main...