Vertical integration has received much attention in the last 25 years and there are well-known theories that explain this behavior. However, the one common thread that runs through virtually all of this research is the assumption of private property rights. Very little attention has been paid to...

Water quality trading programs envision regulated point sources meeting discharge control requirements and then being allowed to increase their nutrient discharge if they secure nutrient reduction credits from other pollutant sources in the watershed. Reduction credits can be created when...

The purpose of this study is to evaluate agricultural producer response to opportunities to generate nutrient credits under Virginia’s water quality trading program. In 2005 the Virginia legislature passed legislation authorizing trade of nutrient reduction credits from nonpoint to...

This paper reviews water quality investments that can increase the environment’s capacity to remove nutrients. The nutrient removal effectiveness, uncertainty, and cost of removing nutrients directly from ambient waters is compared to agricultural nonpoint source reductions in the context of...

Local water suppliers are increasingly faced with implementing policies to address temporary water shortages. This analysis estimates the reductions in residential water-use from the implementation of voluntary and mandatory water-use restrictions programs in Virginia. The level of information...

Emission trading programs have been discussed with respect to achieving water quality objectives and future caps on carbon emissions. A significant part of this literature explores the institutional and technical design issues associated with trades involving nonpoint effluent sources and carbon...

Last year, the Environmental Protection Agency finalized a Total Maximum Daily Load (TMDL) rule that would require states to establish water quality standards for American waterways. The new rule, which is currently under congressional scrutiny, would place emphasis on the rightful goal of water...

As the environmental policy recommendations of economists become more acceptable, differences in the professional understanding of, and support for, different policy forms are becoming more apparent. These different approaches to environmental policy and research are described around a taxonomy...

Rotational grazing can potentially reduce greenhouse gas (GHG) emissions from animal operations. This study investigates potential GHG reductions from rotational grazing farm operations under alternative procedures for defining a carbon credit. As applied to a case study cow-calf operation, GHG...