The merits of floor prices in emissions trading schemes (ETS) depend on the problem addressed. Traditional hybrid approaches emphasise automatic response to lower than anticipated abatement costs, but we find adjusting emissions targets over time is the better way to deal with this in the...

Australian economic modelling of policy options to reduce greenhouse gas emissions has to date given little attention to (i) crafting policy scenarios that use emissions revenues to target significant existing tax distortions, (ii) quantifying the effects of policy on the price and affordability...

Adaptive governance is a concept from institutional theory that deals with the evolution of institutions for the management of shared assets, particularly common pool resources and other forms of natural capital. This paper is the first of a set of four papers on adaptive governance, providing a...

A number of recent papers have provided estimates of willingness to pay derived in contingent valuation surveys exceeding those revealed in experimental or real-life markets. One possible explanation for the overestimation of values is the presence of yea-saying. With the objective of reducing...

The River Murray and the Coorong in Australia have been in a state of decline. With the prospect of extended droughts and shifts in inflows due to climate change, difficult choices loom. The options include halting the decline, triage of some assets along the River or staying with the declining...