Introduction1.1 why a book on environmental law and economics?Sustainability and environmental law have never been more important. If there are new legal toolkits available for building a better, more sustainable world, there is a duty incumbent to explore and learn those new ideas, to transform our legal rules and institutions.This book presents research drawn from literature on the economic analysis of environmental law. 1 Fundamentally, it presents a case that these methods share the established values and principles of environmental law, 2 yet they extend the set of legal policy options to address the needs of environmental protection and sustainable development. 3 Furthermore, it is shown that beyond the theoretical frameworks developed by environmental Law and Economics researchers, there now exists 1 The terms 'economic analysis of environmental law' and 'environmental Law and Economics' are synonymous and interchangeable. The concept of 'economic analysis of environmental law' is distinguishable from the similarly named 'economic analysis of environmental policy', in that the former focuses on law and legal institutions whereas the latter focuses on economics and economic institutions; also, the latter tend to present a greater amount of mathematical content in their literature. Nevertheless, the two literatures are closely intertwined. Fischman and Barbasch-Riley limited their definition of environmental law to include research on legal issues of pollution, species or habitat conservation, land use, natural resource management, and climate change law (Fischman and Barbasch-Riley 2018, at 772). 2 Driesen notes that environmental law still lacks a positive theory of environmental law; thus, it is quite likely that environmental law will continue to evolve much as Law and Economics is evolving (Driesen 2017, at 58). 3 This argument of shared common legal principles was originally presented by Faure and Skogh (2003, at 19-39). The present book honours Professor Skogh's memory, as it extends and deepens the framework originally introduced by Faure and Skogh and additionally provides empirical case studies on the effectiveness of the models proposed in that earlier work. See De Sadeleer (2002, at 15-18) for the comparative reference to the principles of 'conventional' environmental law.

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