Book excerpt: This volume presents the results of a three-year collaborative effort involving research institutions in Africa, Asia, Europe and Latin America. Case studies demonstrate the diversity of environmental problems to which a variety of economic instruments can be applied - air and water pollution, packaging, deforestation, over-grazing, wildlife. They also show what is needed for them to work successfully and the pitfalls to avoid in introducing them, providing guidance for future applications. Written to be accessible to non-economists, the book offers source material for students and academic economists, as well as for professionals working with economic instruments.