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This paper analyzes the effect of alternative institutional arrangements on the conservation of endangered species and economic activity on private land. Because a landowner does not capture the full value of species conservation, her preferences on land use will not coincide with social...
Persistent link: https://www.econbiz.de/10014071486
"This ninth edition of Economics and the Environment is the third to include Dr. Stephen Polasky as a coauthor, who has brought to the text a reworked and stronger focus on natural resource economics and ecosystem services. This book was first published almost 30 years ago in 1992, as the Rio...
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We use a two-period model to analyze the short run and long run profitability and welfare consequences of horizontal mergers, where the equilibrium responses to a merger can differ over time. Although firms can anticipate the merger, they can only adjust their capacity in the long run.We find a...
Persistent link: https://www.econbiz.de/10012790793
Discounting plays a central role in decisions about global environmental change that affect the well-being of future generations. Discounting the future more heavily tilts decisions toward the present, making it less likely that society will undertake actions to mitigate climate change or other...
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In this paper, we analyze the question of membership in a non-renewable resource cartel, with specific application to OPEC. Using a simple model of a non-renewable resource market, we show that the benefits of cartel membership are related to the size of remaining reserves. Domestic petroleum...
Persistent link: https://www.econbiz.de/10014167019