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This volume features essays dealing with a range of theoretical, measurement and policy issues in environmental and resource economics. Focusing on the integration of environmental considerations into decisions about extractive resource use, both in theory and practice, the essays range from exercises in the pure theory of resource depletion, to applications of theoretical and empirical techniques and the management of resources. Particular attention is given to uncertainty about environmental values and the irreversibility of certain kinds of resource depletion. The volume should be of interest to researchers, practitioners and policy makers.