Books with author Larry Kay

An introduction to the concepts and tools of natural resource economics, including dynamic models, market failures, and institutional remedies.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. The book also includes some topics in environmental economics that overlap with natural resource economics, including climate change.The text emphasizes skills and intuition needed to think about dynamic models and institutional remedies in the presence of both market and policy failures. It presents the nuts and bolts of resource economics as applied to nonrenewable resources, including the two-period model, stock-dependent costs, and resource scarcity. The chapters on renewable resources cover such topics as property rights as an alternative to regulation, the growth function, steady states, and maximum sustainable yield, using fisheries as a concrete setting. Other, less standard, topics covered include microeconomic issues such as arbitrage and the use of discounting; policy problems including the “Green Paradox”; foundations for policy analysis when market failures are important; and taxation. Appendixes offer reviews of the relevant mathematics. The book is suitable for use by upper-level undergraduates or, with the appendixes, masters-level courses.

An introduction to the concepts and tools of natural resource economics, including dynamic models, market failures, and institutional remedies.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. The book also includes some topics in environmental economics that overlap with natural resource economics, including climate change.The text emphasizes skills and intuition needed to think about dynamic models and institutional remedies in the presence of both market and policy failures. It presents the nuts and bolts of resource economics as applied to nonrenewable resources, including the two-period model, stock-dependent costs, and resource scarcity. The chapters on renewable resources cover such topics as property rights as an alternative to regulation, the growth function, steady states, and maximum sustainable yield, using fisheries as a concrete setting. Other, less standard, topics covered include microeconomic issues such as arbitrage and the use of discounting; policy problems including the “Green Paradox”; foundations for policy analysis when market failures are important; and taxation. Appendixes offer reviews of the relevant mathematics. The book is suitable for use by upper-level undergraduates or, with the appendixes, masters-level courses.

Shy middle grader Alf A. Bet (who wants to keep his middle name secret) accidentally learns the entire encyclopedia. He, three other children, and the school’s pet hamster get thrown together against their wishes. They learn to work with each other and use their individual skills to solve a worsening life-or-death crisis. After a successful outcome, the town celebrates at a local amusement park.This quirky story playfully pokes fun at itself, the reader, students, teachers, principals, coaches, cooks, adults, animals, Grandpa, and even the English language. Clever, innovative use of footnotes, glossary definitions, em-dashes, ellipses, intentional misspellings, Roman Numerals, whimsical names, parenthetical asides, word play, and emoticons all help to build a reader-author bond. They also add to the laughs and have educational value. There is a little bit of early romance.Unique chapters contain: words that mostly start with the same letter; partial famous quotations that the reader may try to identify and complete; words using numbers 4 letters; a dream sequence containing all the words in numerous nursery rhymes; text printed in disappearing ink.The surprise ending is pleasant and thought-provoking.