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Forest resources are an ideal starting point for economic analysis of sustainability. In this book, leading economists discuss key aspects of sustainability and sustainable forest management including complexity, ethical issues, consumer choice theory, intergenerational equity, non-convexities, and multiple equilibria. This systematic critique of neoclassical economic approaches is followed by a companion work, Institutions, Sustainability, and Natural Resources: Institutions for Sustainable Forest Management, Volume 2 in the series.

A new economic theory, rather than a new public policy based on old theory, is needed to guide humanity toward sustainability. Institutions are a critical dimension of sustainability and sustainable forest management, and economic analysis of institutional dimension requires an inclusionist rather than an exclusionist approach. This book provides a systematic critique of neoclassical economic approaches and their limitations with respect to sustainability. Leading institutional economists discuss theoretical perspectives about appropriate institutions for sustainable forest management,...

Forest resources are an ideal starting point for economic analysis of sustainability. In this book, leading economists discuss key aspects of sustainability and sustainable forest management including complexity, ethical issues, consumer choice theory, intergenerational equity, non-convexities, and multiple equilibria. This systematic critique of neoclassical economic approaches is followed by a companion work, Institutions, Sustainability, and Natural Resources: Institutions for Sustainable Forest Management, Volume 2 in the series.

A new economic theory, rather than a new public policy based on old theory, is needed to guide humanity toward sustainability. Institutions are a critical dimension of sustainability and sustainable forest management, and economic analysis of institutional dimension requires an inclusionist rather than an exclusionist approach. This book provides a systematic critique of neoclassical economic approaches and their limitations with respect to sustainability. Leading institutional economists discuss theoretical perspectives about appropriate institutions for sustainable forest management,...

It is increasingly recognized that the economic value of forests is not merely the production of timber. Forests provide other key ecosystem services, such as being sinks for greenhouse gases, hotspots of biodiversity, tourism and recreation. They are also vitally important in preventing soil erosion and controlling water supplies, as well as providing non-timber forest products and supporting the livelihoods of many local people.

This handbook provides a detailed, comprehensive and broad coverage of forest economics, including traditional forest economics of timber production,...