Most research on point-nonpoint trading focuses on the choice of trading ratio (the rate point source controls trade for nonpoint controls), although the first-best ratio is jointly determined with the optimal number of permits. In practice, program managers often do not have control over the...

We compare two tradable permit markets in their ability to meet a safety first environmental target at least cost when some polluters have stochastic, correlated, and non-measurable emissions. In both markets, the point source permit defines the allowable level of the observed (deterministic)...

The Environmental Protection Agency and the U.S. Department of Agriculture are promoting point/nonpoint trading as a way of reducing the costs of meeting water quality goals while giving nonpoint sources a larger role in meeting those goals. Farms can create offsets or credits in a...

We compare two tradable permit markets in their ability to meet a stated environmental target at least cost when some polluters have stochastic and non-measurable emissions. The environmental target is of the safety-first type, which requires probabilistic emissions control. One market is built...

In this study we use data envelopment analysis (DEA) and an extension of DEA called value efficiency analysis (VEA) to explore the “"production”" of quality of life within counties in the mid-Atlantic region and the extent to which production frontiers and efficiency differ between rural...

Economic instruments can achieve environmental goals at least cost and provide incentives for further improvements. There are limited opportunities for the use of such instruments in agriculture where the pollution problems can be traced as in the case of intensive livestock operations. However,...