We explore the efficiency of allowing participants in transferable-rights programs to sell credits in multiple markets, i.e., to double dip. In a first-best economy double-dipping is efficient, but if the cap is set suboptimally, then the answer depends on the relative slopes of the marginal...

This paper examines the ability of two new policies to reduce bycatch of red snapper by the shrimp fishery in the Gulf of Mexico: Fractional License and Fractional Gear Programs, as proposed by Townsend, reduce bycatch by reducing the effort levels of shrimp vessels. The policies are evaluated...

Replaced with revised version of paper 06/30/04.

This paper reports on an investigation of hypothetical bias and approaches to identifying and mitigating the bias. The split sample design includes an actual donation treatment, a contingent donation treatment with a follow-up certainty question and a contingent donation treatment with cheap...