Economics of the Environment

Theory and Policy

  • Horst Siebert
  • Stephen Muller

Table of contents

  1. Front Matter
    Pages I-XIV
  2. Introduction

  3. Static Allocation Aspect

  4. Environmental-Policy Instruments

  5. Environmental Allocation in Space

  6. Environmental Allocation in Time and under Uncertainty

  7. Back Matter
    Pages 295-325

About this book


„The labor of nature is paid, not because she does much, but because she does little. In proportion as she becomes niggardly in her gifts, she exacts a greater price for her work. Where she is munificently bene- cent, she always works gratis.“ David Ricardo* This book interprets nature and the environment as a scarce resource. Whereas in the past people lived in a paradise of environmental superabundance, at p- sent environmental goods and services are no longer in ample supply. The en- ronment fulfills many functions for the economy: it serves as a public-c- sumption good, as a provider of natural resources, and as receptacle of waste. These different functions compete with each other. Releasing more pollutants into the environment reduces environmental quality, and a better environm- tal quality implies that the environment’s use as a receptacle of waste has to be restrained. Consequently, environmental disruption and environmental use are by nature allocation problems. This is the basic message of this book.


European Union (EU) allocation theory biodiversity economic growth environment environmental allocation environmental economics environmental policy political economy pollution public goods sustainability

Authors and affiliations

  • Horst Siebert
    • 1
  • Stephen Muller
    • 2
  1. 1.Kiel Institute of World EconomicsKielGermany
  2. 2.Johns Hopkins UniversityBolognaItaly

Bibliographic information