Traditional models of export bonus programs focus only on the effects of disposing public stocks on the world market. We show that the economic effects of export bonus programs are significantly different when one includes the costs of acquiring these stocks. Including stock acquisition costs...

Interest has grown in Water Quality Trading (WQT) as a means to achieve water quality goals, with more than 70 such programs now in operation in the United States. Substantial evidence exists that nonpoint sources can reduce nutrient loading at a much lower cost than point sources, implying the...

Over the past several decades, market-based approaches to natural resource management have received increased attention as a means to cost-effectively achieve environmental quality goals. Following on what has been hailed a success for reducing air pollution, water quality trading (WQT) has more...