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This paper considers the problem of a water management authority faced with the threat of a drought that hits at an uncertain date. Three management policies are investigated: i) a laissez-faire (open-access) policy of automatic adjustment through a zero marginal private net benefit condition,...
Persistent link: https://www.econbiz.de/10012986182
myopic competitive (common) exploitation of groundwater resources to a long-term efficient and sustainable allocation. A … groundwater) and (b) a social planner's model (representing the cooperative and sustainable allocation). The deviation of their … equilibrium state of this system. The two models are then applied in a typical rural area of Greece where groundwater is the only …
Persistent link: https://www.econbiz.de/10008934713
This paper discusses a framework for analyzing robust institutions for water markets drawn on the new institutional economics school of thoughts which is based on Williamson, North, Coase and Ostrom theories on transaction cost economics, property rights and collective actions. Based on these...
Persistent link: https://www.econbiz.de/10009757358
The current Water Abstraction License (WAL) regime in Italy is no longer flexible enough to cope with the challenges posed by human-induced climate and global environmental changes. The cornerstones of the current regime were laid down in the 1930s and have remained essentially unchanged ever...
Persistent link: https://www.econbiz.de/10011457607
Persistent link: https://www.econbiz.de/10002181680
Persistent link: https://www.econbiz.de/10003545185
We study the potential of tropical multi-age multi-species forests for sequestering carbon in response to financial incentives from REDD+. The use of reduced impact logging techniques (RIL) allows a forest owner to apply for carbon credits whereas the use of conventional logging techniques (CL)...
Persistent link: https://www.econbiz.de/10011348906
First-best optimal forest sector carbon policy is examined. Using a comprehensive forest sector model with a detailed carbon cycle section we show that the renewability and carbon neutrality arguments do not warrant emission free treatment of forest bioenergy. However, under the biomass stock...
Persistent link: https://www.econbiz.de/10010250434
are tolerated by the authorities. Groundwater overexploitation for irrigation has created in these areas an unprecedented …
Persistent link: https://www.econbiz.de/10010373740
This essay reviews the implementation experience with three main applications of tradable permit systems: air pollution control, water supply and fisheries management. Opening with a brief summary of the theory behind these programs and both the economic and environmental consequences...
Persistent link: https://www.econbiz.de/10011596945