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Larry Karp

Larry Karp is Professor in the Department of Agricultural and Resource Economics at the University of California, Berkeley.

Titles by This Author

This introduction to natural resource economics treats resources as a type of capital; their management is an investment problem requiring forward-looking behavior within a dynamic setting. Market failures are widespread, often associated with incomplete or nonexistent property rights, complicated by policy failures. The book covers standard resource economics topics, including both the Hotelling model for nonrenewable resources and models for renewable resources.