Land Economics articles from May 1999

Land Economics archives from May 1999

On sustainability and intergenerational transfers with a renewable resource.
May 1, 1999... I. INTRODUCTION This paper studies the sustainability concept within the context of an infinite horizon, overlapping generations model with a renewable resource. A competitive economy can generate a variety of outcomes, from resource...

Optimal exploitation of a biomass confronted with the threat of collapse.
May 1, 1999... I. INTRODUCTION Environmental perturbations are known to have adverse consequences for stocks of living organisms. However, a collapse due to an environmental perturbation does not necessarily imply total extinction of the biomass....

Reconsidering the initial allocation of ITQs: the search for a Pareto-safe allocation between fishing and processing sectors.
May 1, 1999... To analyze [a proposed policy change] is not to reduce all of its components to dollar estimates of surplus, or to changes in net national income. While these measures may clearly be one part of a complete benefit-cost analysis, to analyze a...

The costs of water pollution regulation in the pulp and paper industry.
May 1, 1999... I. INTRODUCTION The costs of pollution regulation are a constant source of political and public concern. Just how costly individual regulations are is often difficult to determine. The main focus by economists is on marginal costs of...

Conflict and cooperation in managing international water resources such as the Great Lakes.
May 1, 1999... I. INTRODUCTION Managing water basins is a complex task. Changes in management policies will involve both the winners and losers. A common definition of an optimal change management policy is one that maximizes the difference between the...

Household responses to increased water rates during the California drought.
May 1, 1999... I. INTRODUCTION Matching residential, business, and agricultural water demands with the available supply of water has long been a problem in the add Western region of the United States. Growth in the U.S. economy and population, combined...

Optimal provision of hydroelectric power under environmental and regulatory constraints.
May 1, 1999... I. INTRODUCTION Unlike thermal generating units, hydroelectric power plants can quickly and inexpensively respond to changes in electricity demand. Although hydroelectric facilities generally have low operating costs, high reliability, and...

Obtaining welfare bounds in discrete-response valuation studies: a non-parametric approach.
May 1, 1999... I. INTRODUCTION In a typical experiment using the contingent valuation method (CVM) in its closed-ended format, subjects are asked to accept or reject to pay a proposed amount of money for a given change in the environment. This format,...

Asymmetries in ordered strength of preference models: implications of focus shift for discrete-choice preference estimation.
May 1, 1999... I. INTRODUCTION In contingent valuation studies, researchers often favor the dichotomous-choice format for its simplicity and familiarity to respondents (Mitchell and Carson 1989; Hanemann 1985; Arrow et al. 1993). The dichotomous format...

Do property values rebound from environmental stigmas? Evidence from Dallas.
May 1, 1999... I. INTRODUCTION Gregory, Flynn, and Slovic (1995) associate the word "stigma" with places, products, and technologies that have one or more of the following characteristics: dread consequences, involuntary exposure, inequitable...

Some questions about land economics.
May 1, 1999... From its beginnings, the American approach to the economics of agricultural land has been strongly influenced by characteristics of national economic development. As Schultz argues, each author reflects upon "the circumstances of his period,...

The physical destruction of Nauru: an example of weak sustainability.
May 1, 1999... I. INTRODUCTION Basic to neoclassical economics is the sanctity of individual choice, the fungibility of economic goods and inputs, and faith in the market system to bring forth substitutes as relative prices change. These notions are part...