As we wrote in a previous preface, there are two main reasons for pro- ducing a new edition of a textbook. First, the subject may have moved on – this has certainly been true in the area of natural resource and envir- onmental economics. Second, experience in using the text may suggest areas for improvement. Both reasons warrant a third edition now. We will say nothing here about the ways in which the subject area has ‘moved on’ except to note that it has and that you will find those changes reflected in this new edition. As far as experience in the use of this text is concerned,.
