The 2005 Environmental Economics Research Strategy (EERS) presents a conceptual framework for future economics and decision science research of the U.S. Environmental Protection Agency (EPA). This research strategy identifies the economics and decision science research areas important to EPA programs and EPAs planned research agenda in these areas. This program implements components of the Office of Research and Development's (ORD's) Strategic Plan and is consistent with priorities outlined in EPA's 2003 Strategic Plan. This research strategy outlines EPA's research effort to provide the necessary behavioral science foundation for making decisions and designing environmental policies at the least cost to American businesses and consumers. To be effective, the Agency must understand how people and firms make decisions about and affect the environment and, in turn, how the environment affects Americans quality of life. High-quality environmental economics research is the best way to improve this understanding.