This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence of externalities linked to one another through markets rather than technical production relationships. Analytical results reveal that the second-best externality tax rate may be...

We show how stated preference information obtained from a choice experiment, and revealed preference information based on housing market transactions, can be combined via generalized method of moments (GMM) estimation. Specifically, we use a moment condition matching the predicted marginal...

This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence of externalities linked to one another through markets rather than technical production relationships. Analytical results reveal that the second-best externality tax rate may be...

We examine the efficiency of current flood risk allocation and the use of flood easements as a means of reallocating flood risk and reducing total flood damages in large river floodplains. Changes in agricultural floodplain land use and levels of crop insurance coverage as the risk of flooding...

Exchanges of either long term rights (property right transfer) or spot rights (rights rental) to water may result in third party effects that place practical limits on the geographic scope of a water market. The result will be a market with few eligible participants. A "thin" market suffers from...

Some environmental problems transcend national boundaries and pose issues for international as well as domestic policies. The impacts of domestic environmental policy on the welfare of output and input suppliers are evaluated using a partial vertically integrated model. The model includes...

Illinois faces a legally de ned quota for the amount of water that it is allowed topump from Lake Michigan. Separately, in Northeastern Illinois, the ground waterlevel has fallen due to pumping pressure. Together, these constraints on watersupply could limit economic and population growth in the...

This dissertation examines annual price data of two resources, copper and zinc, to test the hypothesis that these resources have become more scarce during the years 1870 to 1985. A theoretical model is developed which incorporates the effects of endogenous technological change and monopolistic...