This paper summarizes and synthesizes the role of markets in facilitating climate change adaptation. It explains how market signals encourage adaptation through land markets. It also identifies impediments to critical market signals, provides related policy recommendations, and points to...

This paper derives the incidence of a pollution tax in a stylized general equilibrium framework, building on previous work by Fullerton and Heutel (2007a). Using the CPI as numeraire, we show that tax incidence is a simpler problem than previously thought, and that general insights can be...

This paper provides empirical evidence on the welfare losses associated with asymmetric information about product quality in a competitive market. When consumers cannot observe product characteristics at the time of purchase, atomistic producers have no incentive to supply costly quality. We...

While high transportation cost and market power are long-recognized sources of market inefficiency, their interaction is less well understood, and has not been explored in a developing-country context. In this paper, we analyze the mechanisms by which lower transportation costs increase farm...

This paper analyses budget-constrained, nonpoint source (NPS) pollution control with costly information acquisition and learning. To overcome the inherent ill-posed statistical problem in NPS pollution data the sequential entropy filter is applied to the sediment load management program for...

In the face of growing management problems and conflicts over increasing demands and dwindling or increasingly variable supplies of surface and groundwater, the need for revising the conventional water resource allocation methods has been increasingly felt among natural resource managers and...

This paper demonstrates a method for reconstructing flexible form production functions using minimal disaggregated data sets. The policy focus of our approach puts emphasis on the ability of the model to reproduce the existing production system and predict the disaggregate outcomes of policy...

Paper replaced with revised version 06/03/08

This paper demonstrates a robust method for achieving disaggregation in the estimation of flexible-form farm-level multi-input production functions using minimally-specified data sets. Since our ultimate goal is to address important questions related to the distributional effects of policy...

In California, the tremendous spatial and temporal variation in precipitation suggests that flexible contractual arrangements, such as option contracts, would increase allocative efficiency of water over time and space. Under such arrangements, a water agency pays an option premium for the right...