We develop four experimental markets to examine how individuals respond to risk: self-protection and self-insurance in both private and collective auctions. First, we find evidence that the mechanism used to reduce risk is important. Results indicate that the upper and lower bounds on value were...

Economic impacts are evaluated for four agricultural policies intended to increase organic carbon stored in agricultural soils. Two policies are directed at changing agricultural practices on tillage and cover crops. The other two involve alternative land use scenarios under the Conservation...

Although rational choice theory presumes people have a point estimate of their willingness to pay (WTP) for a good or service, the idea of coherent arbitrariness suggests they have an interval of values. Herein we explore bidding behavior in a second-price auction in which bidders have point or...

Matching grants are commonly used to influence the bundle of public goods provided by governments. A contingent valuation experiment was designed to determine the value that individuals place on improved recreational facilities under a matching grant proposal. The experiment provided an...

Environmental federalism considers what level of government should optimally regulate pollution. This paper addresses this question for accidental pollution, which government regulates through the ex post liability regimes of either negligence or strict liability. We find that decentralizing the...

We consider how the reputation of being socially responsible works as an effective source of motivation in protecting a public good, such as endangered species. This paper investigates the mechanism design for endangered species protection on private land under asymmetric information about...

Understanding why environmental problems occur and what best to do about them is much facilitated by an understanding of economics. This book provides an introduction to the subject of environmental economics which does not assume an in-depth prior understanding of economics. Part one explains...

The obesity epidemic and the growing debate about what, if any, public health policy should be adopted is the subject of endless debates within the media and in governments around the world. Whilst much has been written on the subject, this book takes a unique approach by looking at the obesity...

Environmental economics is now a long standing field of research ; much has been learned on how environmental policy can use incentives to drive individual behaviors. Among the many examples, preference elicitation is the most discussed case in which incentives fail to accurately implement...

Recent work with Randomized Controlled Trials (RCTs) in development economics has contributed to economists' use of the experimental mindset to inform policy choices. Development scholars, however, question the authority of RCT evidence, and worry that the RCT trend will turn their profession...