SPECIAL ISSUE: IN MEMORIAM PROFESSOR JACK L. KNETSCH ON ENVIRONMENTAL ECONOMICS AND COST-BENEFIT ANALYSIS: EDITOR’S INTRODUCTION

Professor Jack L. Knetsch passed away on August 5, 2022 at the age of 89 in Vancouver, British Columbia, Canada.

Jack was my academic mentor and university teacher. He was a great teacher and researcher who, often in his career, challenged the conventional ideas of the day. His well-known work with Nobel Laureates, Daniel Kahneman and Richard Thaler on the endowment effect, loss aversion, fairness, and much more in Behavioral Economics anchored his academic reputation. But many may have forgotten his earlier but equally influential works in environmental economics such as in the classic book, Economics of Outdoor Recreation with Marion Clawson, the Hotelling–Clawson–Knetsch Travel Cost Method, Property Rights and Compensation, Legal Rules and Pollution, and Valuing Non-market Goods were all great works. Jack was a regular participant in our Singapore Economic Review Conference Series since 2005, and was at one time, the Lim Chong Yah Professor at the National University of Singapore, a Nanyang Professor at the Nanyang Technological University, and a regular Visiting Professor at the Singapore Civil Service College. Few would know too that he was advisor to settling the river pollution issues in Malaysia and was on the cost-benefit analysis team for building the first Penang bridge many years ago. It was his encouragement to me that I pursued later my career in Cost-Benefit Analysis and it was Jack who brought me to know the eminent economist in the subject, Professor E. J. Mishan. Jack’s often heard phrase to students, “In the hope that we continue to question and to learn” will always be in my mind for all time. I shall miss him dearly.

This Special Issue was put together to remember Jack Knetsch who was a fixture in all our Singapore Economic Review Conference Series beginning from 2005. The journal had also benefitted from his regular suggestions to strengthen the Singapore Economic Review over the years. The journal owes an enormous debt by the active role he had played as a member of our Advisory Board.

The contributions here reflect many of Jack’s friends especially those who knew him well, had worked with him and shared his passion in the kinds of research, Jack did. There are two volumes of the Special Issue, and this is the first volume published. The second volume will follow.

Let us all remember Jack Knetsch as we read the papers in this volume.

Euston Quah

Nanyang Technological University, Singapore

ecsquahe@ntu.edu.sg