The literature and research on environmental and resource economics has exploded in recent years. This major annual publication provides a cutting-edge survey of current research by the leading experts in the field. The Yearbookincludes contributions on: *⊂ climate change policy *⊂ general equilibrium models in environmental and resource economics *⊂ hedonic property value techniques for policy and litigation *⊂ progress and problems in the economics of sustainability *⊂ valuing the health effects of pollution *⊂ the economics of carbon sequestration in agricultural soils *⊂ tradable permits for air quality *⊂ linking environmental ethics and environmental policy.