This paper develops economic definitions of energy quality for individual fuels and energy aggregates. There are both use- and exchange-value concepts as well as marginal and total measures of energy quality. A factor augmentation or quality coefficients approach corresponds to the use-value...

As is the case with capital-energy substitution, interfuel substitutability has been of longstanding interest to the energy economics and policy community. However, no quantitative meta-analysis has yet been carried out of this literature. This paper fills this gap by analyzing a broad sample of...

The ecosystem services provided by coastal and nearshore marine systems contribute significantly to human welfare. However, studies that document values of these services are widely scattered in the peer-reviewed literature. We collected 39 contingent valuation papers with 120 observations to...

The Hicks or direct elasticity of substitution is traditionally derived from the production function. This paper exploits duality theory to present a more general derivation from the input distance function, which is exactly dual to the Shadow Elasticity of Substitution. The new elasticity is...

We construct an endogenous (Bayesian) learning model with fat-tailed uncertainty on the equilibrium climate sensitivity and solve the model with stochastic dynamic programming. In our model a decision maker updates her belief on the climate sensitivity through temperature observations each time...

Abstract Non-cooperative game theoretical models of self-enforcing international environmental agreements (IEAs) that employ the cartel stability concept of d'Aspremont et al. (1983) frequently use the assumption that countries can sign a single agreement only. We modify the assumption by...