Chakravorty, Ujjayant; Magné, Bertrand; Moreaux, Michel - In: Journal of Economic Dynamics and Control 32 (2008) 4, pp. 1181-1203
In the midwestern United States, ethanol produced from corn is mixed with gasoline to meet clean air standards. Allocating land to produce clean fuel means taking away land from farming. We examine the use of a scarce fossil fuel that causes pollution but may be substituted by a clean fuel...