A new vision is sweeping through ecological science: The dense web of dependencies that makes up an ecosystem has gained an added dimension-the dimension of time. Every field, forest, and park is full of living organisms adapted for relationships with creatures that are now extinct. In a vivid narrative, Connie Barlow shows how the idea of "missing partners" in nature evolved from isolated, curious examples into an idea that is transforming how ecologists understand the entire flora and fauna of the Americas. This fascinating book will enrich and deepen the experience of anyone who enjoys a stroll through the woods or even down an urban sidewalk. But this knowledge has a dark side too: Barlow's "ghost stories" teach us that the ripples of biodiversity loss around us now are just the leading edge of what may well become perilous cascades of extinction.

Acclaim for first edition: The author succeeds in bringing together many interesting real-life applications of CBA in various areas (including among others health, environment and transportation). The examples are well chosen to illustrate the basic issues and show clearly the crucial importance of theoretical and assumptions. Moreover, they are presented in an accessible amethodologicalnd attractive way. For those who know already the principles of CBA, these applications are stimulating and enjoyable reading. Erik Schokkaert, Tijdschrift voor Economie en Management This fully updated new edition continues in the vein of its predecessor by viewing cost benefit analysis as applied welfare economics, while at the same time building on the earlier framework by extending the theory and providing further applications in each chapter. New for this edition are analyses of theory related applications in mental health, condom social marketing programs, female primary education as a means of preventing HIV/AIDS and the pricing of natural gas. Presented in an integrated manner, the theoretical concepts are constructed around the main building blocks of CBA, such as shadow pricing, distribution weights, the social discount rate and the marginal cost of public funds. This edition will cement the book s place as a major and accessible text in the field and will be of great interest to graduate and undergraduate students of welfare economics and microeconomic theory, as well as government economists involved with any area of public policy.