This paper studies plant level data on actual and permitted levels of water pollution emissions for the pulp and paper industry. There is widespread and substantial overcompliance with the relevant regulations: aggregate BOD emissions in 1992 were only 50% of the amount allowed. Overcompliance...

Policy makers have turned to competition- based voluntary-enrollment programs as a cost-effective way to achieve preferred land uses. This paper studies bidder behavior in an innovative auction-based program in which farmers compete to sell and retire the right to develop their land. We derive a...