Professor Phoebe Koundouri

Professor in Economic Theory and Econometrics, Founder and Scientific Director of ICRE8

CV Koundouri

Professor Dr. Phoebe Koundouri holds a PhD (2000), MSc (1996) and MPhil (1995) in Economics from the University of Cambridge (UK). She is Professor in Economic and Econometric Theory and Applications (with special emphasis on Natural Resources, Energy and the Environment) at the School of Economics, Department of International and European Economic Studies, Athens University of Economics and Business  (Greece). She is also Founder and Scientific Director of the Research Laboratory: (ReSEES): Research tEam on Socio-Economic and Environmental Sustainability at the same University. Since 2013 she is also a Visiting Senior Research Fellow at the Grantham Research Institute on Climate Change and the Environment, London School of Economics (UK).

Phoebe Koundouri is the Founder and Scientific Director of the non-for-profit ICRE8: International Center for Research on the Environment and the Economy ( ICRE8 is the host of the United Nations Sustainable Development Solutions Network (UNSDSN)-Greece ( and Prof. Koundouri is the Co-Chair of UNSDSN-Greece.

She has published 15 edited books and monographs, and more than 250 articles in academic journals and edited volumes. She is a highly cited academic author ranked in the top 1.5% of all female economists in the world. She is co-editor of the official journal of the European Association of Environmental and Resource Economists, associate editor and editorial board member in 23 academic journals. She was elected Council Member (2012-2015) and Vice President of the European Association of Environmental and Resource Economists (2014-2015).  She is Visiting Professor and Research Fellow in many Universities and Research Centers around the world.

In the past she held fixed-term and tenure track academic positions at the University of Cambridge, University College London, University of Reading, and many visiting positions around the world. She has been acting as an advisor, consultant and research evaluator for the European Commission, World Bank, OECD, UN, NATO, WHO, various Foundations and Governments. Since 1996, she has coordinated and/or participated, in more than 60 research projects on natural resources management issues. She has organized a number of international conferences and supervised numerous PhD students, all of them now working in academia. Over the last two decades Phoebe Koundouri has given keynote and public lecturers all over the world, and received scholarships and prizes for academic excellence from various academic institutions and foundations.

Central to her research is the concept of ‘total economic value of public goods’ and in particular the value humans derive from natural resources/ environment/ecosystem. Her main research goal is to produce a structured and methodologically sound approach towards capturing the total economic value of public goods, demonstrating this approach to policy makers and achieve its integration in natural resource economic policy. In her view this is the only sustainable way forward for our environment, economy and society.

In doing so she is working on refining the theoretical models and empirical methods used in the field of natural resource, ecological & agricultural economics, towards: (a) better understanding of the concept and determinants of the total economic value of ecosystem goods and services under uncertainty, (b) more accurate modelling of this value, (c) more robust estimation of this value, (d) more efficient integration of this value in long-run cost benefit analysis, interdisciplinary resource management and policy-making.

More technically, she works towards: (a) improving the real world relevance of the mathematical (theoretical) models focused on capturing the total economic value of ecosystem goods and services (mainly by incorporating dynamic and intergenerational, spatial, information creation and diffusion, risk and uncertainty elements, informed not only by economics but also by other relevant disciplines), (b) improving the link between theoretical and empirical models on this total economic value, by homogenising their mathematical and statistical underpinnings and then refining the models, (c) improving the econometric applications of the empirical models to real world data, (d) incorporate the derived empirical estimates in the implementation of natural resource cost-benefit analysis and development of management policy.

She has applied refined theoretical and empirical models to the economic analysis of various natural resources (inland -groundwater and surface-, coastal and marine waters, renewable energy, land, forest, biodiversity, etc.) and a number of economics sectors (agriculture, industry, services, etc.) in quite a few case studies all over the world. Her refined models, methods and estimates, have been cited and used by many in economics and interdisciplinary research, and have influenced policy-making mainly in the EU, but also the US and Asia. Lately some of her models and methods have been incorporated into decision support e-tools for natural resource management and cost-benefit analysis.

In a nutshell, she aspires that her contribution to the field of environmental economics is mainly methodological and aims at further integrating: (a) the natural resource mathematical modelling literature, (b) the non-market valuation (econometric) literature, (c) the market valuation (econometric) literature, towards making the concept of total economic value the driving force of natural resource economic policy, while acknowledging the need to work in an interdisciplinary framework. It is the only sustainable way forward!

Below a list of areas she works in, using Economic Literature and Natural Sciences traditional categorizations:

1. Agricultural Economics: Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets; Agricultural Finance; Land Ownership and Tenure; Land Use; Irrigation; Agriculture and Environment; R&D and Agricultural Technology; Biofuels; Agricultural Extension Services; Agricultural Policy; Food Policy
2. Natural Resources (Renewable and Non-Renewable) Economics and Econometrics:
- Resources: Inland water (surface and groundwater) resources; Fisheries, aquaculture and oceans resources; Forest resources; Energy (renewable) sources; Biodiversity and ecosystem service (Ecological Economics); Land use; Recreational aspects of natural resources; Air
- Pollution: Air Pollution; Water Pollution; Noise; Waste
- Climate Change (and intergenerational issues)
3. Long-Run Discounting and Cost-Benefit Analysis, Economic Sustainability
4. Uncertainty, Risk and Irreversibility, Natural Disasters
5. Benefit Valuation: Choice Modeling, Contingent Valuation, Hedonic Pricing, Travel Cost, Benefit Transfer, Cost-Benefit Analysis
6. Behavioral and Social Aspects: Experimental Economics, Consumption and Demand, Distributional Aspects.
7. Production and the Environment: Production/Cost Function; Micro-Econometrics, Production Technology Adoption and Diffusion; Processes, Production Under Uncertainty and Risk Preference Estimation.
8. Regulation and Instruments: Price-based MBI, Quantity-based MBI, Voluntary Approaches, Externalities, Other Market Failures.
9. Game Theory and the Environment.
10. Health and the Environment.
11. Interdisciplinary Approaches to Natural Resources Management and Policy.
12. Econometric Methods: Time Series, Cross-Section, Panel, Parametric/Non-parametric.
13. Philosophy of science applied to economics (general), econometrics and environmental and resource economics.

Phoebe Koundouri was born in Cyprus in 1974. She is married to Prof. Nikitas Pittis. They have two daughters, Chrysilia and Billie, and live (mainly) in Kifisia, Athens.

GO TO: Prof. Phoebe Koundouri Google Scholar Profile


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