Feng, Hongli; Kling, Catherine L.; Kurkalova, Lyubov A.; … - Department of Economics, Iowa State University - 2007
In this paper, we examine command-and-control (CAC) policies and market-based instruments (MBI) in the context of the Conservation Reserve Program (CRP). The CRP, an MBI in the form of subsidies, is by far the largest agro-environmental policy implemented to date. We compare the environmental...