The Dasgupta Review takes a global perspective. Biodiversity varies geographically, and the success of biodiversity actions is sensitive to national institutional and socio-ecological conditions. Therefore, the implementation of the options for change (OCs) suggested by the Review calls for a...

We analyse optimal phosphorus fertilisation and erosion control policies in a spatial, dynamic, steady-state framework. First-best instruments to incentivise farmers to undertake socially optimal choices are analysed both analytically and empirically. An empirical illustration is presented for a...