Edited by Bengt Kriström, Professor of Resource Economics, SLU-Umeå, Sweden, Partha Dasgupta, Frank Ramsey Professor of Economics, University of Cambridge, UK and the late Karl-Gustaf Löfgren, formerly Professor of Economics, Umeå University, Sweden

• Contents:Introduction Bengt Kriström 1 An example of dynamic control of negative stock externalities Kenneth J. Arrow2 An optimal R&D for a patent race with uncertain duration Thomas Aronsson, Per-Olov Johansson and Karl-Gustaf Löfgren3 The strategy of treaty negotiation: ‘broad but shallow’ versus ‘narrow but deep’ Scott Barrett4 A CGE analysis of sulfur deposition and Sweden’s ‘green’ net national product Lars Bergman5 Biodiversity management under uncertainty: species selection and harvesting rules William Brock and Anastasios Xepapadeas6 The Kyoto Protocol: an economic and game-theoretic interpretation Parkash Chander, Henry Tulkens, Jean-Pascal van Ypersele and Stephane Willems7 A model of fertility transition Partha Dasgupta8 Notes on irreversibility, sustainability and the limits to growth Anthony C. Fisher and Jinhua Zhao9 The acid rain game: a formal and mathematically rigorous analysis Henk Folmer and Pierre von Mouche10 Bridging ecology and economics: reflections on the role of cost–benefit analysis and the design of interdisciplinary research Ing-Marie Gren, Clifford S. Russell and Tore Söderqvist11 Valuing ecosystem services Geoffrey Heal12 Hotelling (1925) on depreciation Bengt Kriström13 Real versus hypothetical willingness to accept: the Bishop and Heberlein model revisited Chuan-Zhong Li, Karl-Gustaf Löfgren and W. Michael Hanemann14 An economic approach to the control of invasive species in aquatic systems Charles Perrings15 Global externalities: sovereign states Domenico Siniscalco16 What if Jevons had actually liked trees? Robert M. Solow17 Mobility and capitalization in local public finance: a reassessment David A. Starrett18 The core of the cooperative game associated with oligopoly firms Hirofumo Uzawa19 Highlighting the acid rain game Aart de ZeeuwIndex

'This book is an excellent festschrift in honour of Karl-Goran Maler and I thoroughly enjoyed reading it. It is a part of the series titled New Horizons in Environmental Economics, edited by Wallace E. Oates and Henk Folmer. Almost all the books in this series represent significant contributions to the field of environmental economics. This book is no exception.'