Ground-level ozone has been shown to have significant negative health externalities from short-term exposure, and as such has been regulated by the U.S. Clean Air Act since the 1970s. Ozone is not emitted directly; instead formation occurs due to a complex Leontief-like combination of air...

Agricultural producers make investment decisions based on beliefs about future returns. This article investigates how changes in beliefs about input availability affects the adoption of conservation practices. We develop a theoretical model to examine how a producer's beliefs about water...