This paper calculates the optimal gasoline tax for the state of California. According to our analysis, the optimal gasoline tax in California is $1.37/gallon, which is over 3 times the current California tax when excluding sales taxes. The Pigovian tax is the largest part of this tax, comprising...

This paper calculates the optimal gasoline tax for the state of California. According to our analysis, the optimal gasoline tax in California is $1.37/gal, which is over three times the current California tax when excluding sales taxes. The Pigovian tax is the largest part of this tax,...

Replaced with revised version of poster 08/25/11.

This paper uses a structural econometric model to analyze the investment timing game in offshore petroleum production that ensues on wildcat tracts in U.S. federal lands off the Gulf of Mexico. When individual petroleum-producing firms make their exploration and development investment timing...

We develop a theoretical and empirical model to measure the benets and costs of policy options for controlling a seedborne, imported fungus, Verticillium dahliae, seriously aecting lettuce production in California. In 1995, the disease Verticillium wilt, caused by the fungus V. dahliae,...

We investigate the behavior of farmers who share an underground aquifer. In the case where seepage may occur the resource is nonexclusive, giving rise to a spatial externality whereby pumping by one user affects others nearby. Theoretically, these externalities are potentially important causes...

This paper analyses the effects of the expiration of the volumetric ethanol subsidy and the implementation of the renewable fuels standard (RFS) on the U.S. fuel ethanol industry. Analyses that ignore the dynamic implications of these policies, including their effects on incumbent ethanol...