A new approach is under way for the research agenda of environmental valuation. Rather than treating stated preference (SP) and revealed preference (RP) as competing valuation techniques, analysts have started to view them as complementary, where the strengths of each approach can be used to...

Given the empirically observed sensitivity of welfare estimates to functional form, it is natural to consider whether nonparametric methods such as those developed by Varian might be of value in nonmarket welfare analysis. This study presents simple methods for constructing nonparametric bounds...

In this paper, we examine the design of permit trading programs when the objective is to minimize the cost of achieving an ex ante pollution target, that is, one that is defined in expectation rather than an ex post deterministic value. We consider two potential sources of uncertainty, the...