In this paper we advocate a new initial allocation mechanism for a tradable pollution permit market. We outline a Permit Allocation Contest (PAC) that distributes permits to firms based on their rank relative to other firms. This ranking is achieved by ordering firms based on an observable...

The establishment of a tradable permit market requires the regulator to select a level of aggregate emissions and then distribute the associated permits (rent) to specific groups. In most circumstances, these decisions are often politically contentious and frequently influenced by rent seeking...

This article examines the integration of regional Scottish grain markets from the early seventeenth century until the end of the long eighteenth century in 1815. The Scottish economy developed rapidly in this period, with expansion driven by improvements in market structures and specialisation...

This article examines the integration of regional Scottish grain markets from the early seventeenth century until the end of the long eighteenth century in 1815. The Scottish economy developed rapidly in this period, with expansion driven by improvements in market structures and specialisation...

There has been widespread debate about whether the way in which we measure economic activity is fit for purpose in the twenty-first century. One aspect of this debate is to move away from measuring a nation's income (GDP) towards monitoring a nation's assets (their inclusive wealth), as a better...

This paper considers the role which selfish, moral and social incentives and pressures play in explaining the extent to which stated choices over pro-environment behaviours vary across individuals. The empirical context is choices over household waste contracts and recycling actions in Poland. A...

How the valuation of environmental goods is related to income is a key question for economics, but the role of income inequality is often neglected. We study how income inequality affects the international transfer of the estimated value of environmental goods from a study to a policy site - a...

This paper considers the ways in which information can impact contingent valuation estimates of environmental values. The Hoehn/Randall distinction between value formulation and value statement is employed. We distinguish several ways information should be expected to effect true Willingness to...

Most work on valuing the recreational benefits of public forests has concentrated on arriving at consumers surplus per visit figures, using either the travel cost method, or contingent valuation. We use both methods to try and explain the variation in consumers surplus across different forest...

The Act of Union (1707) unified England and Scotland politically and economically, formally establishing the United Kingdom of Great Britain, and a customs union throughout the island of Britain. In this paper, we examine the impact of union on British market integration using wheat prices from...