This paper develops and parameterizes an overarching analytical framework to estimate the welfare effects of energy efficiency standards applied to automobiles and electricity-using durables. We also compare standards with sectoral and economywide pricing policies. The model captures a wide...

The concept of ecosystem services has become increasingly influential in conservation policy, uniting natural and social scientists in efforts to develop values for environmental benefits consistent with underlying ecological and social processes. Understanding the consequences for ecosystem...

The use of cap-and-trade to regulate air pollution promises to achieve environmental goals at lower cost than traditional prescriptive approaches. Cap-and-trade has been applied to various air pollutants including sulfur dioxide, nitrogen oxides, and volatile organic compounds in the United...

Determining the appropriate survey population and the commodity to be valued are among the most fundamental design decisions for stated preference (SP) surveys. However, often little information is available about who in the population holds measurable value for the resource (the extent of the...

The Emissions Reduction Market System (ERMS), an emissions-trading program for volatile organic materials (VOMs) in Chicago, Illinois, has been characterized by emissions significantly below the annual allocation of emission allowances, allowance prices much lower than predicted, limited...

In 2005, the European Union introduced the largest and most ambitious emissions trading program in the world to meet its Kyoto commitments for the containment of global climate change. The EU Emissions Trading Scheme (EU ETS) has some distinctive features that differentiate it from the more...