Many conservation programs offer financialcompensation to farmers in exchange for socially desiredservices, such as soil conservation or biodiversity protection.Realization of the conservation objective at minimum costrequires payments to just cover the extra costs incurred byeach individual...

Many conservation programs offer financial compensation to farmers in exchange for socially desired services, such as soil conservation or biodiversity protection. Realization of the conservation objective at minimum cost requires payments to just cover the extra costs incurred by each...

We investigate the features of optimal regulatory policies composed of pollution standards and probabilities of inspection, where fines for non-compliance depend not only on the degree of violation but alson on nongravity factors.We show that optimal policies can induce either compliance or...

We study optimal policies composed of pollution standards, probabilities of inspection and fines dependant on the degree of noncompliance with the standards, in a context where regulated firms own private information.In contrast with previous literature, we show that optimal policies, being...

To facilitate the energy transition, regulators can choose between several policy options to stimulate energy-efficient design by firms. One possibility is to target firms directly through standards or subsidies. Alternatively, it is possible to influence firms indirectly by targeting firms'...

Over time, inspection agencies gather information about firms that cause harmful externalities. This information may allow agencies to differentiate their monitoring strategies in the future, since inspections can be influenced by firms’ past performance relative to other competitors in the...

In this paper, we study the incentives to adopt advanced abatement technologies in the presence of imperfect compliance. Surprisingly, incentives to adopt advanced abatement technologies remain intact under emission taxes and pollution abatement subsidies when compared to the perfect compliance...