Economic values are increasingly used in policy analysis and legal settings. With the growing recognition that many of the things that benefit or harm people are outside the market system, have come increasing efforts to develop nonmarket valuation techniques. One such technique is the...

This review focuses on four key scholars who were instrumental in helping to launch the field of natural resource economics: Siegfried von Ciriacy-Wantrup, James Crutchfield, John Krutilla, and Anthony Scott. Their contributions include recognizing natural resources as renewable capital, thereby...

This article presents experimental tests of a linear and a nonlinear ambient tax mechanism that involve modest information requirements for the regulator. When agents are not allowed to communicate, both tax mechanisms result in emission levels that approximate the social optimum. When agents...