The Environmental Protection Agency and the U.S. Department of Agriculture are promoting point/nonpoint trading as a way of reducing the costs of meeting water quality goals while giving nonpoint sources a larger role in meeting those goals. Farms can create offsets or credits in a...

We compare two tradable permit markets in their ability to meet a stated environmental target at least cost when some polluters have stochastic and non-measurable emissions. The environmental target is of the safety-first type, which requires probabilistic emissions control. One market is built...

We compare two tradable permit markets in their ability to meet a safety first environmental target at least cost when some polluters have stochastic, correlated, and non-measurable emissions. In both markets, the point source permit defines the allowable level of the observed (deterministic)...

We examine policy instruments for ambient water quality protection. One objective is to illustrate the unique and complex informational challenges that must be addressed in constructing instruments that are effective and efficient for point and nonpoint sources. A second objective is to describe...

Most research on point-nonpoint trading focuses on the choice of trading ratio (the rate point source controls trade for nonpoint controls), although the first-best ratio is jointly determined with the optimal number of permits. In practice, program managers often do not have control over the...

ABSTRACTSTaxes on environmental externalities have long been recognized in the economics literature as a cost-effective mechanism for reducing the costs of environmental degradation. However, in recent years there has been substantial interest in other possible benefits from environmental taxes,...

Traditionally, information collection for water quality management has been focused on biological data to describe environmental conditions, and stressor-condition-response relationships. While this kind of information is essential, other types of information e.g., economic information about the...

The dissertation consists of two major components on the topic of environmental valuation using spatial hedonic pricing models.The first component deals with the specification of a spatial hedonic model. The focus is on how to include the spatial effects of observed house prices into a hedonic...