The Spatial Dimension In Environmental and Resource Economics

Name: The Spatial Dimension In Environmental and Resource Economics
Brand: Cambridge University Press

Cambridge University Press

The Spatial Dimension In Environmental and Resource EconomicsAuthor(s): William Brock, Anastasios Xepapadeas\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9781009694384, 978-1009694384\nSynopsis\nAlthough the spatial dimension is embedded in most issues studied by environmental and resource economics, its incorporation into economic models is not widespread. As a result, significant aspects of important problems remain hidden, which could lead to policy failures. This Element fills this gap by exploring how space can be integrated into environmental and resource economics. The emergence of spatial patterns in economic models through Turing's mechanism is explained and an extension of Pontryagin's maximum principle under spatial dynamics is provided. Examples of the use of spatial dynamics serve to illustrate why space matters in environmental policy design. Moreover, the differentiation of policy when spatial .