This book explores some of the complexities of decision-making under risk and uncertainty in environmental and natural resource economics. Risk and uncertainty are inherent problems for economists, and the authors in this volume offer numerous challengesand opportunities to improve the tools we use to assess these concepts. They begin by studying various environmental issues such as climate change and biodiversity conservation to underline the importance of identifying different forms of uncertainty and irreversibility. They move on to consider the implications risk and uncertainty have on economic development and environmental policies, and study the attitudes of different user-groups to these issues. Finally, they examine the natural resource management dilemmas faced by the private sector including issues of optimal resource allocation, insurance problems and consumer behavior. Presenting cutting-edge research on the management of the environment under risk and...

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