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Fishery managers in the US are required to identify and limit adverse consequences of fishing on essential fish habitat. We propose an individual habitat quota (IHQ) system for habitat conservation that would utilize economic incentives to achieve habitat conservation goals cost-effectively....
This paper presents a new random utility model of recreation demand that addresses the unobserved characteristics of recreation sites. Most random utility recreation demand models implicitly assume that all relevant site characteristics are observed by the researcher or allow for the possibility...
Using patent data from the United States, Japan, and Germany, this paper examines both innovation and diffusion of air pollution control equipment. Whereas the United States was an early adopter of stringent sulfur dioxide (SO 2 ) standards, both Japan and Germany introduced stringent nitrogen...
In a market where firms with different characteristics decide upon both the level of emissions and their reports, we study the optimal audit policy for an enforcement agency whose objective is to minimize the level of emissions. We show that it is optimal to devote the resources primarily to the...
This paper considers whether international environmental public goods provision, such as mitigation of climate change, is better dealt with through regional cooperation than through a global treaty. Previous research suggests that, at best, a global environmental treaty will achieve very little....
In environmental economics, hedonic property value (HPV) models have often employed distance from a localized environmental disamenity as a proxy for perceived risk. The magnitude of a distance effect on housing prices, however, may depend upon the direction in which it is being measured. We...
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