National government-funded payments for environmental services (PES) programs often lack sustainable financing and fail to target payments to providers of important environmental services. In principle, these problems can be mitigated by supplementing government financing with contributions from...

National government-funded payments for environmental services (PES) programs often lack sustainable financing and fail to target payments to providers of important environmental services. In principle, these problems can be mitigated by supplementing government financing with contributions from...

National government-funded payments for environmental services (PES) programs often lack sustainable financing and fail to target payments to providers of important environmental services. In principle, these problems can be mitigated by supplementing government financing with contributions from...

This dissertation provides a thorough analysis of the costs associated with, andefficacy of, sequential license buyback auctions. I use data from the Texas ShrimpLicense Buyback Program - a sequential license buyback auction - to estimate theeffects of a repeated game set-up on bidding behavior....

Overfishing of red snapper in the Gulf of Mexico has significantly increasedlately. A major regulation to reduce the overfishing is Total Allowable Catches (TAC) incombination with a season closure. The restrictions on entry lead to an inefficientoutcome, however, because the resource is not...

A large body of literature studies the issues of the option price and other ex-antewelfare measures under the microeconomic theory to valuate reductions of risks inherentin environment and human health. However, it does not offer a careful discussion of howto estimate risk reduction values using...

In the standard economic model of cap and trade policies, the regulator is assumed to place zero value on pollution reductions below the cap. This paper considers an alternative case, where the policy makers can manipulate the rules of the program to achieve improved environmental performance....

Fisheries managers use licenses as a method of capping the size of a fishing industry, but as management goals change and the size of fishery stocks fluctuate, managers may be faced with the decision to buy back licenses. The vast majority of economic literature on license buyback programs...

We explore the efficiency of allowing participants in transferable-rights programs to sell credits in multiple markets, i.e., to double dip. In a first-best economy double-dipping is efficient, but if the cap is set suboptimally, then the answer depends on the relative slopes of the marginal...

This paper examines the ability of two new policies to reduce bycatch of red snapper by the shrimp fishery in the Gulf of Mexico: Fractional License and Fractional Gear Programs, as proposed by Townsend, reduce bycatch by reducing the effort levels of shrimp vessels. The policies are evaluated...