This paper explores how a principal with time-inconsistent preferences invests optimally in technology or capital. If the current principal prefers her future self to save more, she can increase current investments complementary to future savings and decrease investments in the strategic...

Conventional wisdom argues that environmental policy is less costly if environmental policy induces the development of cleaner technologies. In contrast to this argument, we show that the cost of environmental policy (a reduction in emissions) may be larger with induced technical change than...

International trade policy analysis has tended to focus on the production side of general equilibrium, with policies such as a tariff or carbon tax affecting international and internal income distributions through a Heckscher-Ohlin nexus of factor intensities and factor endowments. Here I move...

Natural resource management organisations in Australia routinely establish resource condition targets in their regional plans/catchment strategies. We reviewed biodiversity, water and community resource condition targets set by Catchment Management Authorities (CMAs) in Victoria and New South...

Clean technology can help states mitigate climate change, and intellectual property rights (IPR) influence the development and adoption of clean technology. While previous research recognizes the importance of IPR rules, it does not investigate how IPR rules influence the political incentives of...

Consider a lobby group of exhaustible-resource suppliers, which bargains with the government over the extraction of an exhaustible resource and over contribution payments. We characterize the path of contributions and the resulting extraction path, taking into account how the environmental...

Biological invasions are classical examples of externalities. The risks and damages from biological invasions are endogenous, depending on how society protects itself from invasions, and how it reacts to them after they occur. This paper analyzes a dynamic model in which society can undertake a...

Energy innovation offers us our best chance to solve the three urgent and interrelated problems of climate change, worldwide insecurity over energy supplies, and rapidly growing energy demand. But if we are to achieve a timely transition to reliable, low-cost, low-carbon energy, the U.S. energy...

Environmental policy has assumed a high profile in Australia with recent policies addressing aspects of land degradation (National Heritage Trust and the National Action Plan), forest management (Regional Forests Agreements) and climate change (programs administered by the Australian Greenhouse...

The Michigan Agriculture Environmental Assurance Program (MAEAP) is a voluntary environmental program (VEP) initiated in 1999 by a coalition of state government agencies and agricultural, environmental and conservation groups in Michigan. We survey Michigan livestock producers and conduct...