In this article, we show how the degree of risk aversion, discounting, and preference for intertemporal substitution for a natural resource manager can be structurally estimated within a recursive utility framework. We focus on the management of a reservoir in California, and test the data for...

This book explores frontier work at the intersection of experimental and environmental economics, with cutting edge research provided by premier scholars in the field. The book begins by focusing on improving benefit–cost analysis, which remains the hallmark of public policy...

Hydroelectric power plants can quickly and inexpensively respond to changes in electricity demand. However, this operational flexibility can cause negative environmental impacts and these environmental effects are mitigated through direct restrictions on hydropower operations, rather than taxes...

Water development and allocation to competing uses without well-defined water quality rights contribute to water use externalities. Federal legislation to address the salinity externalities in the Colorado River Basin comprises a set of arbitrary quality standards and millions of dollars in...