The purpose of this paper is to develop models with and without emissions trading and to compare industry profits under the two regimes. The model in which emissions trading is permitted is a nonparametric industry frontier model in the spirit of Fare, Grosskopf and Li (1992). It is relative to...

This paper critiques a recent attempt to model pollution prevention using data envelopment analysis (DEA). We contribute an alternative model which explicitly models joint provision of desirable and undesirable outputs (a la Shephard and Fare (1974)), using weak disposability of output. We also...

Multi-unit auctions are promising mechanisms for the reallocation of water. The main advantage of such auctions is to avoid the lumpy bid issue. However, there is great uncertainty about the best auction formats when multi-unit auctions are used. The theory can only supply the structural...

EPA's central mission is to carry out its various statutory directives to protect the nation's health, welfare, and environment from the risks posed by pollution. Because the nation's resources are limited, EPA seeks to the extent legally permitted to direct those resources towards the actions...

www.can.nl\~cool Comments: 39 pages in Word - zipped JEL: N0, Z0 EWP References: ewp-get/9604002 ewp-get/9604003 Report-no: Thomas Cool 96-05

Keynes proposed that a ‘Commod Control’ agency be created after the Second World War to stabilise spot prices of key internationally traded commodities by systematically buying and selling physical buffer stocks. In this paper, the creation of a new Global Commodity Insurer (GCI) is...

The effect of monetary policy on the farm sector remains controversial. Studies attempting to quantify the effects of monetary disturbances on real farm prices report conflicting results: some find that positive monetary shocks increase real farm prices in the short run, while others detect no...

The purpose of this paper is to model the interaction between the targets of the current CAP: environmental adaptation, subsidies and efficiency the of animal farming. To this end we first have to identify the production frontier and relative efficiency level for each animal oriented type of...