Showing papers in "Resource and Energy Economics in 2005"

TL;DR: In this article, the authors take a closer look at the dynamic effects of climate change on saving and capital accumulation and find that the capital accumulation effect is more important, relative to the direct effects, if climate change impacts are moderate overall.

TL;DR: This article used directional technology distance functions to evaluate the impact of environmental regulations on firms' performance and found that when firms face environmental rules preventing free disposal of bads, their potential to increase desirable output by behaving efficiently is largely affected.

TL;DR: In this article, the authors examine policies to encourage efficient product design and recycling in a setting with these two recycling options plus the option of putting recyclables in the trash, and find value in having two parallel recycling options.

TL;DR: In this paper, the authors examined the impact of oil and gas facilities on rural residential property values using data from Central Alberta, Canada, and found that property values are negatively correlated with the number of sour gas wells and flaring oil batteries within 4 km of the property.

TL;DR: The authors investigated whether the preference and willingness-to-pay estimates obtained from the choice experiment method of estimating non-market values are sensitive to the vector of prices used in the experimental design.

TL;DR: In this paper, the strategic interaction between the manager of a protected area and a group of local people was studied, where the park manager benefits from wildlife through tourism and hunting, but also bears the wildlife damage.

TL;DR: In this paper, the authors analyzed the impact of the pollution generated by the use of non-renewable resources on the standard results of growth models and showed that the Hotelling rule is not a pure efficiency condition any longer.

TL;DR: In this paper, a river basin pollution game, which is a model for a common nonpoint source pollution problem, is solved numerically using the idea of coupled constraint equilibrium, where agents face a joint constraint on the total pollution, which defines a coupled constraint set in the combined strategy space.

TL;DR: In this article, the authors compare the relative cap to an absolute cap and to a price instrument, in terms of welfare impact, and show that in most plausible cases, either a price or an absolute tax instrument yields a higher expected welfare than a relative cap.

TL;DR: The authors analyzes the impact of environmental taxes and quotas on the timing of adoption when the rate at which new, improved energy-efficient technologies become available, is uncertain, and the investment decision is (at least partially) irreversible.

TL;DR: In this article, the authors assess the cost-effectiveness of the performance standard system to reduce CO2 emissions and suggest that this instrument could reduce emissions with almost the same productive efficiency as a permit-trading system.

TL;DR: In this paper, a model of the impacts of uncertainty and learning in a non-cooperative game is presented, which shows that the level of correlation of damages across countries is crucial for determining optimal policy.

TL;DR: In this paper, the authors jointly estimate contingent valuation and revealed and contingent behavior data to incorporate behavioral change in the willingness to pay model and find that accounting for the endogeneity of the change in trips in both independent and jointly estimated models of willingness-to-pay and behavior leads to an increase in the ratio of use value to total value.

TL;DR: In this article, the authors apply real option theory to the issue and ask what price for crude oil would justify the investment in field development and the loss of an amenity (wilderness) dividend.

TL;DR: In this paper, a decomposition of the DP option value into two components, one of which corresponds exactly to the AFHH quasi-option value, and a second one which captures the postponement value irrespective of uncertainty.

TL;DR: In this paper, the authors investigated the impact of uncertainty in the discovery date of superior backstop technologies on the rate of exhaustible resource depletion and adoption timing and found that the option value of waiting can justify putting off, possibly indefinitely, what would otherwise be a sound investment in current backstop technology.

TL;DR: In this paper, a stochastic control model that includes ecological and economic uncertainty for jointly managing both renewable and non-renewable resources is developed for offshore oil platforms with data from California, and numerical sensitivity analysis helps determine how these components affect the options of removing and salvaging the platform, continuing diversified resource production or delaying extraction activity.

TL;DR: In this paper, the question of membership in a non-renewable resource cartel, with specific application to OPEC, was analyzed, and it was shown that the benefits of cartel membership were positively related to the size of remaining reserves, while domestic petroleum consumption was negatively related to membership.

TL;DR: In this paper, the impact of deregulation in an energy market on R&D activities for new energy technology when climate policy is implemented is analyzed. But the authors focus on low-carbon energy technology.

TL;DR: In this paper, the authors show that the social desirability of a resource substitute systematically depends on the pattern of resources involved in the resource substitute development program, and that the larger the willingness to smooth consumption, the greater is the investment in the NRR-based economy, the smaller in the RR-based one.