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The present study formalizes and quantifies the importance of uncertainty, irreversibility, and managerial flexibility for investment in a corn-stover based cellulosic biofuel plant. Using a real options model, we recover prices of gasoline that would trigger entry into the market and compare it...
Persistent link: https://www.econbiz.de/10011068514
The present study formalizes and quantifies the importance of uncertainty for investment in a corn-stover based cellulosic biofuel plant. Using a real options model we recover prices of gasoline that would trigger entry into the market and calculate the portion of that entry trigger price...
Persistent link: https://www.econbiz.de/10011068943
Government subsidies on electricity used for pumping groundwater by agricultural irrigators has long been suspected to be an important reason for overexploitation of aquifers in Mexico. We hypothesize that institutional arrangements that exacerbate non-excludability of groundwater also matter....
Persistent link: https://www.econbiz.de/10010915976
In Mexico, farmers only pay the cost of electricity used to pump groundwater from wells for groundwater consumption and also receive electricity subsidy from government. It causes the fact that farmers consume groundwater under the situation that private marginal cost is lower than social...
Persistent link: https://www.econbiz.de/10010916354
This paper develops a model of spatial competition nesting the classical Zhang and Sexton (2001) duopsony and spatial monopsony in order to evaluate the effects of alternative stover market structures on stover prices, supply of biofuels, and firm profits. We show theoretically, as well as in an...
Persistent link: https://www.econbiz.de/10011068753
Policies that aim to mitigate water pollution from fertilizer use in agriculture include input-based and output-based policies. Both cost-effectiveness and the speed for policies to take effect are important for policy assessment. In this study, we found that fertilizer price policies cannot...
Persistent link: https://www.econbiz.de/10011069092
Persistent link: https://www.econbiz.de/10010880862
The energy savings from tree shade coincide with peak electricity demand during summer months, creating an opportunity for utilities to use tree protection policies as demand side management tools. We apply a quasi-experimental research design to identify the change in residential energy caused...
Persistent link: https://www.econbiz.de/10010880874
Persistent link: https://www.econbiz.de/10010880878
Recent policy and research initiatives aim to make sustainable biofuel crops an important component of the nation’s agricultural and energy sectors, yet few studies have explored potential supply response at the farm level using survey information. This article utilizes contingent valuation...
Persistent link: https://www.econbiz.de/10010880880