We study production capacity utilization and emission permit utilization in a model where firms jointly produce a valued good and an environmental bad, pollution. Firms are ex ante identical but experience random productivity shocks after factor employment. A regulator imposes a cap-and-trade...

We study production capacity utilization and emission permit utilization in a model where firms jointly produce a valued good and an environmental bad, pollution. Firms are ex ante identical but experience random productivity shocks after factor employment. A regulator imposes a cap-and-trade...

Pooling diversified and specialized firm data to analyze multiproduct cost technologies raises two issues in applied research: (1) a functional form must be specified that accommodates zero outputs, and (2) assumptions must be made regarding the structure of the multiproduct technology when some...

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This paper examines search with active learning and correlated information. We first develop a simple model to show how correlation affects the decision to acquire information. A unique data set on fishing site choice by mid-Atlantic clam fishermen is used to test the model predictions. Results...

This report presents an overview of the methods used to collect field data from commercial halibut fishermen in the Gulf of Alaska during the 2006 and 2007 fishing seasons. The report consists of three parts: Part I presents an overview of project goals, the survey instrument, and procedures...

We introduce a model of fishing behavior that features costly targeting of a spatially and temporally heterogenous, multiple-species fish stock. We characterize fishing behavior under species-specific regulations including time-area-depth closures, per-trip landings limits and tradable harvest...