We consider optimal fishery management under the assumption of increasing returns that is supported by previous empirical evidence. We improve the tractability and realism of the previous approaches by introducing flow adjustment costs on changes in harves rate. Our framework is the first to...

This paper summarizes recent empirical research on compliance costs and strategies and on permit market performance under the U.S. acid rain program, the first large-scale, long-term program to use tradeable emissions permits to control pollution. An efficient market for emissions permits...

Efficient regulation of the commons requires information about the regulated firms that is rarely available to regulators (e.g., cost of pollution abatement). Montero (2008) proposes a simple mechanism for inducing firms to truthfully reveal their privat

The Climate Action Teams (CAT) initiative is a mechanism that supports international resource transfers for climate mitigation. CAT operates through government-to-government agreements based on verified mitigation outcomes beyond nationally determined contribution (NDC) commitments in one...

In this article we look at factors that could explain why department stores in Chile provide extensive financial services to their customers, and compare this situation with that in other countries. We believe that the success of department stores in Chile responds to several factors acting...

Políticas internacionales de limitación de emisiones de gases efecto invernadero en el período 2008-2012 pueden tener importantes efectos en la economía chilena. Durante este período,los países menos desarrollados no están sujetos a ningún tipo de control sobre estas emisiones, pero...

I study a regulatory process in which both the regulator and the regulated firm propose prices that in case of disagreement are settled through final-offer arbitration – a practice currently used in Chile for setting prices in the water sector. Rather than submitting a single offer, each...

The paper studies the design of a treadable permit system with opt-in possibilities for LDCs countries in the context of climate change. In setting the optimal opt-in rule, the regulator faces a trade-off between production efficiency (minimization of control costs) and information rent...