Environment and economy-no conflict -- Market mistakes and how unpaid-for external effects are killing us -- Climate change: "the greatest external effect in human history" -- How to deal with external effects -- Solving the climate problem -- Everyone's property is no one's property -- Natural...

In the decades since Geoffrey Heal began his field-defining work in environmental economics, one central question has animated his research: "Can we save our environment and grow our economy?" This issue has become only more urgent in recent years with the threat of climate change, the...

Economic evaluation of climate policy traditionally treats uncertainty by appealing to expected utility theory. Yet our knowledge of the impacts of climate change may not be of sufficient quality to justify probabilistic beliefs. In such circumstances it has been argued that the axioms of...