A great challenge facing future agricultural water policy is to explore the potential for transition from the current myopic competitive (common) exploitation of groundwater resources to a long-term efficient and sustainable allocation. A number of economic and/or command and control instruments...

This article argues that a key to sustainability is redirecting the law of economic development. From a historical perspective, sustainable development is an effort to integrate environmental protection and restoration with development. As a result, it is not possible to fully understand...

Ecologists have made great strides in developing criteria for describing the resilience of an ecological system. In addition, expansion of that effort to social-ecological systems has begun the process of identifying changes to the social system necessary to foster resilience in an ecological...

International climate protection investments (Joint Implementation and Clean Development Mechanism projects) are burdened with problems of contract enforcement, which prevent the realisation of efficiency gains associated with these investments. The paper analyses this problem from the...

Climate-economy models aiming at quantifying the costs and effects of climate change impacts and policies have become important tools for climate policy decision-making. Although there are several important dimensions along which models differ, this paper focuses on a key component of climate...

We discuss the selection of the socially optimal discount rate for public investment projects that entail costs and benefits in the very long run. More specifically, we examine in an expected utility framework how the uncertainty on the growth rate of the GNP per head affects this rate. Under...

Temperature records compiled by the International Panel on Climate Change are biased by non-climatic factors that are largely socioeconomic in origin. The result is that as much as 50 percent of the land-surface warming that has been detected in recent decades may not be the product of global...

We combined an expert elicitation and a bottom-up manufacturing cost model to compare the effects of R&D and demand subsidies. We modeled their effects on the future costs of a low-carbon energy technology that is not currently commercially available, purely organic photovoltaics (PV). We found...

This paper models strategic behavior in the market for sulfur dioxide emissions allowances. Firms are monopolies in their respective output markets and strategic players in the input market for allowances. A competitive allowance market provides the benchmark setting, and in this case, any...