Leading environmental economists address three issues that are at the center of current interest. The first is the benefits valuation issue, i.e., the fact that many seemingly important environmental benefits are not valued in the market, resulting in the need for non-market valuation techniques. The second issue is how to augment the conventional national income or product accounts so as to cover changes in stocks of renewable and non-renewable natural resources and environmental degradation. The third issue is the development and estimation of general equilibrium models, which are needed in order to understand and capture the spillover effects of environmental change on different sectors of an economy. Distributed by St. Martin's. Annotation copyright Book News, Inc. Portland, Or.
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