We develop a model of regulation of environmental risks in a heterogeneousindustry when policy makers are sensitive to uncertainties about the processes generating the risks. Optimal source reduction capacity is shown to vary according to site suitability. Optimal source reduction capacity and...

This paper derives a method to quantify the short- to medium-run impact of biofuel on fuelmarkets, assuming that these markets are dominated by cartel of oil-rich countries, and that pricesin these countries are set to maximize the sum of domestic consumer and producer surplus, leadingto a wedge...

New discoveries in the life sciences and the challenge of climate change are leading to the emergence of the bioeconomy where basic methods of advanced biology are applied to produce a wide array of products while also improving environmental quality. The emergence of the bioeconomy is a...