The problem of global climate change presents overwhelming factual, analytical, and normative challenges. Nordhaus surveys this terrain bravely and mostly successfully. He explains the scientific/economic consensus that the planet is warming, that people are responsible, that the consequences...

We summarize existing theoretical claims linking poverty to rates of deforestation and then examine this linkage empirically for Costa Rica during the 20th century using an econometric approach that addresses the irreversibilities in deforestation. Our data facilitate an empirical analysis of...

We review claims about the potential for carbon markets that link both payments for carbon services and poverty levels to ongoing rates of tropical deforestation. We then examine these effects empirically for Costa Rica during the 20th century using an econometric approach that addresses the...

A number of decisions need to be made when setting up a nutrient trading system including defining a target, allocating allowances and setting up a monitoring system. To ensure that the nutrient trading system implemented operates in harmony with existing regulation, existing work and...

This paper explores how to enhance the role for academic research (natural sciences, economics and their integration; and stakeholder management) within the development and implementation of water quality policy in New Zealand. Our focus is on the use of market based instruments and particularly...

Lake Rotorua is experiencing increasing nutrient-related water quality problems. This paper is one in a series that explores the idea of creating a nutrient trading system as part of the ongoing policy response to this problem.1 Most of the current nutrient flows to the Lake come from non-point...

For a nutrient trading system to achieve the desired environmental outcome, or goal, this outcome needs to be translated into nutrient flows and allowances. To connect the nutrient loss provided for under the allowances with the environmental goal, a number of decisions need to be made. These...

Pastoral farming can result in adverse environmental effects such as nitrogen leaching and greenhouse gas emissions. However, the cost of mitigation and hence the socially appropriate level of tolerance for environmental effects is still unclear. Research to date within New Zealand has either...

Water quality in Lake Rotorua has been declining for at least the last 30 years as increased levels of nutrients have entered the lake. Despite significant effort and expenditure, the level of nutrients entering the lake still exceeds sustainable levels. A nutrient trading system would help the...

A nutrient trading system is one mechanism that is currently being considered to control and reduce nutrient loss into Lake Rotorua. However this may not be the best mechanism for controlling nutrient loss from all sources. A more comprehensive system improves efficiency and decreases market...