Classic Papers in Natural Resource Economics brings together a choice selection of some of the most enduring academic writing published in this field in a single volume. The fourteen papers included in this book are grouped into five sections: the intertemporal problem; externalities and market failure; property rights, institutions and public choice; the economics of exhaustible resources; and the economics of renewable resources. Each section represents a major area in natural resource economics.This volume is a compact source book of well-known and highly regarded papers dealing with the theory and practice of natural resource economics. The chapters span many facets of the discipline and give the reader informed insights into the complex issues involved in resource production, pricing, consumption and allocation. Written by distinguished resource economists, the papers in this volume probe, analyze and illuminate the central issues of the discipline. The volume is directed largely at an academic audience; specifically, it is intended as a supplementary textbook for a graduate course in natural resource economics. Also, it would be very useful to researchers, policy analysts and others with a good grounding in economic theory and some knowledge of quantitative methods.