The economic development of oil importing countries creates an increased demand for oil. This results in higher prices and an increased surplus to producers. A buyers' cartel would be a mechanism by which the US (in association with other importing countries) could retain (all or a part of) this...

In the active literature on regulatory reinvention, many have pointed to the Endangered Species Act's Habitat Conservation Plan program as a successful example of the potential for collaborative and experimentalist regulatory innovation. Yet, despite its frequent mention as a prototype for...

In the presence of uncertainty and irreversibility, dynamic decision problems should not be solved using expected net present value analysis. The right to delay a decision can be valuable. We show that the value of this right equals Arrow and Fisher's [K. J. Arrow and A. C. Fisher, Environmental...

The major argument against climate change treaties (like the Kyoto Agreement) is that they would reduce economic activity. On the contrary, in this paper we show that a revenue neutral tax on crude (returned as a lump sum payment to consumers) would achieve a reduction in consumption of oil (to...

This paper examines the efficiency of the European market for carbon dioxide emission allowances. To this end, spot and futures market data are analyzed from Powernext, Nord Pool and ECX, the three main exchanges under the European Union Emission Trading Scheme (EU ETS). The methodology employs...

This book addresses two questions. First, what progress did the United States make toward sustainable development between the 1992 (the date of the U.N. Conference on Environment and Development, or Earth Summit) and 2002? Second, what should the United States do next, particularly in the next 5...

We analyze the optimal dynamic scale and structure of a two-sector economy, where each sector produces one consumption good and one specific pollutant. Both pollutants accumulate at different rates to stocks which damage the natural environment. This acts as a dynamic driving force for the...

This paper seeks to explore how the concept of sustainable development has been written about by United Kingdom corporations in their environmental reports. This paper draws on the accounting literature which characterises explores how an account of a phenomena socially constructs our...

This paper has been written in response to the perception that quot;sustainable developmentquot; and its derivatives are being used in, amongst others, the accounting literature in a way which equates sustainable development with quot;good environmental managementquot;. Further, the paper...

In December of 1962, Vail opened as a ski area. The lodges, houses, condominiums, shops, and restaurants at its base became the nucleus of the emergent town of Vail and the prototype of the modern recreational gateway community. The term quot;gateway communityquot; did not originate in Vail. It...