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We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not...
Persistent link: https://www.econbiz.de/10013136355
construction of city-specific price and purity series that pay careful attention to the data and incorporate existing knowledge of … economic analyses of supply, demand and harms …
Persistent link: https://www.econbiz.de/10012770677
constraining the gasoline and diesel supply chains. We consider several factors that alter the elasticity of supply, including … variation in the demand for untaxed uses of diesel. In general, we find that in periods of time when the supply chain is … supply disruptions such as after major hurricanes …
Persistent link: https://www.econbiz.de/10013128885
Inventories and price changes are correlated. The inverse relation is most obvious in housing where inventories build …
Persistent link: https://www.econbiz.de/10013144866
crops to estimate the effect of crop insurance on the output and prices of the insured crops.We find that the supply of and … benefit for consumers, even when it generates a large supply response …
Persistent link: https://www.econbiz.de/10013131302
. In particular, we look at the frequency and magnitudes of price changes in both countries and find that the results in … suggests a bigger role for supply disruptions that restricted the ability of retailers to re-stock goods after the earthquake …
Persistent link: https://www.econbiz.de/10013075420
Bigeye tuna in the Western and Central Pacific Ocean were perceived as overfished for nearly 20 years, in large part due to incidental catch in the much larger skipjack tuna fishery. Efforts to halt the overfishing of bigeye stalled due to disagreements over the distribution of costs and...
Persistent link: https://www.econbiz.de/10014093797
Fisheries. The model includes two sources of uncertainty: the resource biomass and the price of fish, and it can be used by …
Persistent link: https://www.econbiz.de/10012909855
For many products the average price paid by consumers falls during periods of high demand. We use information from a … large supermarket chain to decompose the decrease in the average price into a substitution effect, due to an increase in the … share of cheaper products, and a price reduction effect. We find that for almost all the products we study the substitution …
Persistent link: https://www.econbiz.de/10013247226
Seminal work by Weitzman (1974) revealed prices are preferred to quantities when marginal benefits are relatively flat compared to marginal costs. We extend this comparison to indexed policies, where quantities are proportional to an index, such as output. We find that policy preferences hinge...
Persistent link: https://www.econbiz.de/10012759315