China is appraised to have the world's largest exploitable reserves of shale gas, although several legal, regulatory, environmental and investment-related issues will likely restrain its scope. China's capacity to successfully face these hurdles and produce commercial shale gas will have a...

We estimate the willingness to pay (WTP) of Beijing and Shanghai residents for improving the air quality of the two cities from their levels prior to the 2008 Beijing Olympic Games to the level achieved during the Olympics. The data are obtained from a contingent valuation study conducted...

Water quality in China has seriously deteriorated in recent years. However, very few valuation studies have been conducted to estimate the monetary values associated with water quality changes. As a result, the decision makers can hardly make rational choices with regard to investments in water...

The article adds empirical content to transaction costs concepts by analyzing the design and implementation of the first publicly listed company in Australia, Earth Sanctuaries Limited, devoted to protecting biodiversity. The venture was successful on some ecological criteria, but ultimately...

The maritime oil transport is regulated by the 1992 Civil Liability Convention for Oil Damage and the 1992 Oil Pollution Compensation Fund. In this compensation regime, contributions of oil firms are based on the aggregate risk of the Fund and are assessed each time an oil spill is registered....

Economic growth does not necessarily ensure environmental sustainability for a country. The relationship between the two is far more complicated for developing countries like India, given the dependence of a large section of the population on natural resources. Under this backdrop, the current...

This paper seeks to assess the current status of water quality trading and to identify possible problems and solutions. Water pollution permit trading programs have rarely been comprehensively described and analyzed in the peer-reviewed literature. Including active programs and completed or...

Property rights regimes determine a relationship between rights-holder and non rights-holder. It determines who takes responsibility and/or bears costs for environmental restoration. We analyze In-Stream Water Rights System introduced in Oregon in 1987. Where In-stream water right means the...

This paper explores empirically the impact of changes of enforcement efforts on environmental compliance. Our strategy is to link observed fines and other enforcement actions to subsequent compliance behavior. We find that, on the margin, the impact of a fine for water pollutant violations is...