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| Preface to the Second Edition: What Stayed, What Went, What's New? | |
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| Acknowledgments | |
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| Basic Concepts | |
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| Renewable, Nonrenewable, and Environmental Resources | |
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| Population Dynamics: Simulation, Steady State, and Local Stability | |
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| Extraction of a Nonrenewable Resource | |
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| Discounting | |
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| A Discrete-Time Extension of the Method of Lagrange Multipliers | |
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| Asymptotic Depletion of a Nonrenewable Resource | |
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| The Maximum Principle and Dynamic Programming in Discrete Time | |
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| Dynamic Programming in a Two-Period, Two-State Model | |
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| A Markov Decision Model and Stochastic Dynamic Programming | |
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| Exercises | |
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| Solving Numerical Allocation Problems Using Excel's Solver | |
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| Introduction and Overview | |
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| Optimal Rotation for an Even-Aged Forest | |
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| Solving an Implicit Equation for the Optimal Steady-State Fish Stock | |
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| Solving an Implicit Equation for the Optimal Date of Exhaustion | |
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| Optimal First-Period Harvest in a Two-Period, Two-State Model | |
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| The Optimal Linear Harvest Policy | |
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| Optimal Escapement in a Finite-Horizon Deterministic Model | |
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| Optimal Escapement for One Realization (Seed 1) of Z<sub>t+1</sub> | |
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| An Optimal Depletion Problem: The Mine Manager's Problem | |
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| Approximating the Asymptotic Approach to a Bioeconomic Optimum | |
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| The Most Rapid Approach Path to an Optimal Pollution Stock | |
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| Optimal Escapement with Stochastic Growth | |
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| Exercises | |
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| The Economics of Fisheries | |
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| Introduction and Overview | |
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| Net Growth | |
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| Fishery Production Functions | |
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| The Yield-Effort Function | |
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| The Static Model of Open Access | |
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| The Dynamic Model of Open Access | |
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| Regulated Open Access | |
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| Maximization of Static Rent | |
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| Present-Value Maximization | |
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| Traditional Management Policies | |
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| Bioeconomic or Incentive-Based Management Policies | |
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| Marine Reserves | |
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| Exercises | |
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| The Economics of Forestry | |
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| Introduction and Overview | |
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| The Volume Function and Mean Annual Increment | |
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| The Optimal Single Rotation | |
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| The Faustmann Rotation | |
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| An Example | |
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| Timber Supply | |
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| The Optimal Stock of Old-Growth Forest | |
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| Exercises | |
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| The Economics of Nonrenewable Resources | |
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| Introduction and Overview | |
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| A Simple Model | |
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| Hotelling's Rule | |
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| The Inverse Demand Curve | |
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| Extraction and Price Paths in the Competitive Industry | |
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| Extraction and Price Paths under Monopoly | |
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| Reserve-Dependent Costs | |
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| Exploration | |
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| The Economic Measure of Scarcity | |
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| A Postscript to "Betting the Planet" | |
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| Exercises | |
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| Stock Pollutants | |
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| Introduction and Overview | |
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| The Commodity-Residual Transformation Frontier | |
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| Damage Functions and Welfare | |
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| A Degradable Stock Pollutant | |
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| Diffusion and a Nondegradable Stock Pollutant | |
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| Optimal Extraction with a Nondegradable Waste | |
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| Climate Change | |
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| Emission Taxes and Marketable Pollution Permits | |
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| Exercises | |
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| Maximin Utility with Renewable and Nonrenewable Resources | |
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| Introduction and Overview | |
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| The Maximin Criterion | |
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| The Gini Coefficient | |
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| Growth with Resources, Intergenerational Utility, and the Maximin Criterion | |
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| Overlapping Generations | |
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| Complications | |
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| An Exercise | |
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| Annotated Bibliography | |
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| Index | |