80 research outputs found
Measuring the Impact of Global Warming in Agriculture
Get PDFThis paper develops a "Ricardian" approach for measuring the economic impact of environmental factors such as climate by examining the direct impact of the environmental factor on land prices. Estimating the model using cross-sectional data on climate, farm-land prices, and other economic and geophysical data for almost 3,000 countries in the United States, we find that higher temperatures in all seasons except autumn reduce average farm values in the United States and more precipitation in all seasons except autumn increases farm values. Applying the model to a global-warming scenario finds a range of impacts depending upon whether the model emphasize the grains through crop-land weights or a broader set of crops through crop-revenue weights. The results of the Ricardian approach show a significantly lower estimated impact of global warming than the traditional production-function approach.
Power plant siting in Japan: the role and effectiveness of compensation
No full text[Extract] Japan, like many other nations, confronts a NIMBY problem in implementing a range of private and public projects including energy and industrial facilities, transportation projects, military installations and waste repositories. Even projects which would be regarded as socially desirable by many such as hospitals and research institutions have been delayed because of protracted conflict with local communities. Although there is a need for such projects to resolve many societal problems, it has become increasingly difficult to get local community acceptance for them. It is said that most communities understand and agree with the need for these projects as long as they are developed not in their own backyard but in someone elses, far away from them
Transaction costs and institutional change
No full text[Extract] The development or siting of unwanted facilities remains a major policy problem for industrialized countries around the world. Throughout Asia, Australia, Europe and North America, intense local opposition almost always greets attempts to site facilities that are perceived to be highly hazardous and risky, such as nuclear plants, high-level waste projects, and industrial projects. Local residents often view any local benefits as being small relative to the risks and burdens. These projects may be justified from a broader national perspective, but local communities often want them located somewhere else, a response often referred to as the 'not in my backyard'(NIMBY) syndrome (Popper, 1983). Such outcries generate political resistance, and makes siting a major policy challenge for both the private and public sectors in all democratic nations alike
On-site samples' regression : Problems of non-negative integers, truncation, and endogenous stratification
No full textThree Essays in the Economics of Recreation Demand (Travel Cost Method, National Resource).
No full textThree essays have been developed to improve the theory and the estimation of the travel cost method which is the most commonly used method to describe the demand for outdoor recreation. Theoretical issues are discussed in the first two essays, and econometric estimation is discussed in the final essay. In the first essay, I demonstrate that historically the travel cost method (TCM) has been used to measure the demand for household commodities (recreation experiences). This approach, unfortunately, is full of empirical hazards mainly due to the endogeneity of household commodity prices. An alternative strategy is to use the TCM as a derived input demand function. In this case, the price endogeneity problem disappears. The appropriate unit for the dependent variable is the consumer's number of trips to the site. Only prices of inputs and full income are appropriate arguments in the demand function. The widespread use of total cost that includes travel cost, on-site time, and money outlays is a misspecification. On-site time and on-site expenditures should be excluded from the model. In the second essay, the Slutsky equation for the derived input demand function is developed. Using the Slutsky equation, useful prior restrictions and hypotheses of the impacts of input price changes on the demand for inputs are deduced. Further, it is shown that welfare measures, based on the input demand equation, are appropriate measures of the net value of individual recreation sites. The third essay corrects an estimation problem in previous estimates of the TCM using on-site samples. There are two sources of the problem in on-site samples: truncation and endogenous stratification. Four theoretically correct methods are developed to solve the two problems. A numerical experiment is done to compare the four methods using generated data sets of a known model. Two methods are shown to be superior: (a) the maximum likelihood method solving the two problems together, and (b) normalizing for endogenous stratification and then using a maximum likelihood method to solve the problem of truncation. Using recreation data from sites in Montana, ordinary least squares (OLS) is compared with the maximum likelihood method. OLS significantly overestimates the individual net social benefits by factors of 1.3 (TURN) 2.3. Thus, we should not use OLS and instead should use the maximum likelihood methods developed here to estimate recreational site demand functions using on-site samples.PhDAgricultural economicsUniversity of Michiganhttp://deepblue.lib.umich.edu/bitstream/2027.42/160874/1/8600549.pd
Policies for transitioning to a green economy: Experiences from Taiwan
No full text[[sponsorship]]經濟研究所[[note]]已出版;有審查制度;具代表
On-Site Samples' Regression: Problems of Nonnegative Integers, Truncation, and Endogenous Stratification
Get PDFJoint Implementation, the Clean Development Mechanism and the baseline: an economic analysis
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