"The tools of environmental economics guide policymakers as they weigh development against nature, present against future, and certain benefits against uncertain consequences. The policies and research findings explained in this textbook are relevant to decisions made daily by individuals,...

Externality problems hinder solutions to existential threats, including climate change and mass extinction. To avert environmental crises, policymakers seek mechanisms that align private incentives with societal exigencies. Successful solutions bring individuals to internalize the broad...