The economic models that prescribe Pigovian taxation as the first-best means of reducing energy-related externalities are typically based on the neoclassical model of rational consumer choice. Yet, consumer behavior in markets for energy-using durables is generally thought to be far from...

This paper considers four alternative policies for controlling harvest within a fishery: (1) individual limits without a permit market, (2) individual limits with a permit market, (3) a collective limit with individual decisions, and (4) a collective limit with collective decisions. We focus on...

One of the great successes of the law and economics movement has been the use of economic models to explain the structure and function of broad areas of law. The original contributions to this volume epitomize that tradition, offering state-of-the-art research on the many facets of economic...

Stated preference scenarios often provide information on intermediate biophysical processes but omit information on the resulting final services that provide utility. This may cause respondents to speculate about the effects of intermediate outcomes on their welfare, leading to biased welfare...

States are increasingly turning to environmental taxes as a means of raising revenue. These taxes are often thought to generate a double dividend: an environmental dividend stemming from the environmental improvement, and an economic dividend resulting from use of the revenue from environmental...

The economic models that prescribe Pigovian taxation as the first-best means of reducing energy-related externalities and argue that taxes are superior to energy efficiency standards are typically based on the neoclassical model of rational consumer choice. Yet, observed consumer behavior with...

This paper analyzes the influence of financial status on the effectiveness of environmental enforcement. It considers multiple dimensions of both enforcement and financial status. Regarding enforcement, the paper considers both the likelihood of enforcement, as captured by the likelihood of...

This paper discusses both the opportunities for and the challenges associated with integrating economics and ecology in the study of ecosystem services. We distinguish between integration in positive versus normative analysis. There is rapid growth in positive research that combines the two...

Recently some industries have collectively agreed not to produce models of a product that do not meet an environmental standard. We present a model to examine a voluntary agreement of this type. The conditions under which an agreement is profitable include the stringency of the agreement, the...