There is an increasing tendency for forest product firms worldwide to adopt sound environmental management practices by voluntarily agreeing to have their forest practices certified by third parties. Using a simple model of profit maximization, we illustrate that the puzzling emergence of this...

Non-compensatory preferences may form a significant component of individuals' values for non-market goods such as natural areas, especially in the context of a reduction in environmental quality. The widespread neglect of such preferences can result in erroneous estimates of changes in economic...

The Safe Minimum Standard (SMS) Rule has been developed as a decision rule involving environmental assets, particularly species, that face some risk of extinction. The SMS rule has been presented by Bishop (1978) (1979) and Randall (1991) as a better decision process than the use of cost benefit...

In this paper the optimal management strategy for intensive aquaculture is viewed in terms of a combined strategy of releasing the optimal number of recruits and harvesting those recruits at the optimal harvesting time. A model which can be used to determine the optimal management strategy is...

Pollution of the River Murray by salt imposes costs on domestic and industrial users in Adelaide and to irrigators on the River Murray. Salt enters the Murray-Darling system through saline ground water aquifers and from irrigation and drainage of saline land. Irrigation and drainage generate...

There are at least five general reasons why market-based policies fail to address some of the most basic environmental objectives. This study evaluates the available biophysical and economic data against these criteria and concludes that market-based approaches should be employed cautiously in...

We broaden the existing empirical literature on environmental regulation and voluntary pollution abatement programs by testing the effects of implicit boycott threats and a firm's participation in a partnership program on its subsequent regulatory oversight using EPA's 33/50 program as a...

This paper presents a proposal to utilize insurance as a market-based alternative to traditional command-and-control regulation of concentrated animal feeding operations in order to meet policy goals to curtail negative environmental externalities.

This paper analyzes potential cost savings to the U.S. agricultural sector associated with applying marketable permit designs for methyl bromide critical use exemptions (CUE), under the phase-out of methyl bromide. A necessary condition for an efficient trading system is heterogeneity among...