Pub Date : 2025-05-07DOI: 10.1016/j.jeem.2025.103177
Michael Olaf Hoel
To reach the goals of the Paris agreement, net carbon emissions must be reduced to zero by the second half of this century. To achieve this, some kind of carbon dioxide removal (CDR) is needed. The paper gives an analysis of the interaction between extraction of fossil energy resources and CDR. If there is sufficient capacity for storing captured carbon, it will be optimal to have a period of negative net emissions. In this case cumulative extraction will not depend on climate costs, but will be higher the lower is the cost of CDR at low levels of CDR.
{"title":"The path to net zero emissions","authors":"Michael Olaf Hoel","doi":"10.1016/j.jeem.2025.103177","DOIUrl":"10.1016/j.jeem.2025.103177","url":null,"abstract":"<div><div>To reach the goals of the Paris agreement, net carbon emissions must be reduced to zero by the second half of this century. To achieve this, some kind of carbon dioxide removal (CDR) is needed. The paper gives an analysis of the interaction between extraction of fossil energy resources and CDR. If there is sufficient capacity for storing captured carbon, it will be optimal to have a period of negative net emissions. In this case cumulative extraction will not depend on climate costs, but will be higher the lower is the cost of CDR at low levels of CDR.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"132 ","pages":"Article 103177"},"PeriodicalIF":5.5,"publicationDate":"2025-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144069329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-03DOI: 10.1016/j.jeem.2025.103165
Johannes Brehm , Nico Pestel , Sandra Schaffner , Laura Schmitz
Do long-term improvements in air quality influence children’s educational outcomes? This paper investigates the impact of Low Emission Zones (LEZs), which restrict access to designated areas for emission-intensive vehicles, on the educational achievement of elementary school students in Germany. Using school-level data from North Rhine-Westphalia, Germany’s most populous state, we exploit the staggered introduction of LEZs since 2008 with a difference-in-differences approach. LEZ implementations increase transition rates to the academic track in secondary education by approximately one percentage point, or 2.4 percent. We validate this finding using more aggregated district-level data across all of Germany. Our findings imply sizable educational co-benefits of reductions in air pollution.
{"title":"From Low Emission Zone to academic track: Environmental policy effects on educational achievement in elementary school","authors":"Johannes Brehm , Nico Pestel , Sandra Schaffner , Laura Schmitz","doi":"10.1016/j.jeem.2025.103165","DOIUrl":"10.1016/j.jeem.2025.103165","url":null,"abstract":"<div><div>Do long-term improvements in air quality influence children’s educational outcomes? This paper investigates the impact of Low Emission Zones (LEZs), which restrict access to designated areas for emission-intensive vehicles, on the educational achievement of elementary school students in Germany. Using school-level data from North Rhine-Westphalia, Germany’s most populous state, we exploit the staggered introduction of LEZs since 2008 with a difference-in-differences approach. LEZ implementations increase transition rates to the academic track in secondary education by approximately one percentage point, or 2.4 percent. We validate this finding using more aggregated district-level data across all of Germany. Our findings imply sizable educational co-benefits of reductions in air pollution.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"132 ","pages":"Article 103165"},"PeriodicalIF":5.5,"publicationDate":"2025-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143941198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-04-04DOI: 10.1016/j.jeem.2025.103154
Elisabeth T. Isaksen , Bjørn G. Johansen
Decarbonizing transportation requires a shift from conventional to zero-emission vehicles. We examine whether congestion pricing with electric vehicle (EV) exemptions accelerates this transition by encouraging a shift toward cleaner cars. To identify causal effects, we combine administrative data on car ownership with a triple-differences design that exploits household-level variation in policy exposure across metropolitan areas and work commutes. We find that higher rush hour charges for conventional vehicles significantly increase EV adoption, primarily through replacement rather than fleet expansion. However, responses vary by socioeconomic characteristics, with higher-income and well-educated households more likely to adopt EVs. Beyond car ownership, we document behavioral adjustments, including relocation to avoid tolls, re-routing around the cordon, and shifting travel timing. Overall, congestion pricing reduced traffic volumes and improved air quality. Our findings offer insights for designing equitable and effective transportation policies.
{"title":"Congestion pricing with electric vehicle exemptions: Car-ownership effects and other behavioral adjustments","authors":"Elisabeth T. Isaksen , Bjørn G. Johansen","doi":"10.1016/j.jeem.2025.103154","DOIUrl":"10.1016/j.jeem.2025.103154","url":null,"abstract":"<div><div>Decarbonizing transportation requires a shift from conventional to zero-emission vehicles. We examine whether congestion pricing with electric vehicle (EV) exemptions accelerates this transition by encouraging a shift toward cleaner cars. To identify causal effects, we combine administrative data on car ownership with a triple-differences design that exploits household-level variation in policy exposure across metropolitan areas and work commutes. We find that higher rush hour charges for conventional vehicles significantly increase EV adoption, primarily through replacement rather than fleet expansion. However, responses vary by socioeconomic characteristics, with higher-income and well-educated households more likely to adopt EVs. Beyond car ownership, we document behavioral adjustments, including relocation to avoid tolls, re-routing around the cordon, and shifting travel timing. Overall, congestion pricing reduced traffic volumes and improved air quality. Our findings offer insights for designing equitable and effective transportation policies.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103154"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143816631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-01-31DOI: 10.1016/j.jeem.2025.103126
JunJie Wu , Kathleen Segerson , Christian Langpap
The dramatic improvement in air quality in major Chinese cities in recent years has led to renewed interest in the question of whether economic development allows a country to “grow” out of its environmental problems. We shed new light on this question by identifying a new factor that can drive the long-term relationship between economic development and environmental quality, namely, a spatial effect that arises from a tradeoff between environmental quality and agglomeration economies. We show theoretically that this spatial effect can lead to an inverted U-shaped relationship between income and pollution, i.e., an environmental Kuznets curve. In addition, we decompose changes in US air pollution concentrations from 1990 to 2017 to allow for a possible spatial effect. Results point to the potential importance of a spatial effect in explaining the reductions in carbon monoxide (CO) concentrations. However, little of the change in sulfur dioxide (SO2) concentrations in the US can be attributed to a potential spatial effect.
{"title":"What drives the long-term relationship between economic development and environmental quality? The role of spatial dispersion vs. agglomeration","authors":"JunJie Wu , Kathleen Segerson , Christian Langpap","doi":"10.1016/j.jeem.2025.103126","DOIUrl":"10.1016/j.jeem.2025.103126","url":null,"abstract":"<div><div>The dramatic improvement in air quality in major Chinese cities in recent years has led to renewed interest in the question of whether economic development allows a country to “grow” out of its environmental problems. We shed new light on this question by identifying a new factor that can drive the long-term relationship between economic development and environmental quality, namely, a spatial effect that arises from a tradeoff between environmental quality and agglomeration economies. We show theoretically that this spatial effect can lead to an inverted U-shaped relationship between income and pollution, i.e., an environmental Kuznets curve. In addition, we decompose changes in US air pollution concentrations from 1990 to 2017 to allow for a possible spatial effect. Results point to the potential importance of a spatial effect in explaining the reductions in carbon monoxide (CO) concentrations. However, little of the change in sulfur dioxide (SO<sub>2</sub>) concentrations in the US can be attributed to a potential spatial effect.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103126"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143455049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-03-08DOI: 10.1016/j.jeem.2025.103149
Milena Suarez Castillo , David Benatia , Christine Le Thi
This paper examines the differential impacts of early childhood exposure to air pollution on children’s health care use across parental income groups and vulnerability factors using French administrative data. Our quasi-experimental study reveals significant impacts on emergency admissions and respiratory medication in young children, attributed to air pollution shocks. Using causal machine learning, we identify these health impacts as predominantly affecting 10% of infants, characterized by poor health indicators at birth and lower parental income. Our results indicate that targeted policies based on vulnerability metrics may be more effective than those based solely on exposure levels.
{"title":"Air pollution and children’s health inequalities","authors":"Milena Suarez Castillo , David Benatia , Christine Le Thi","doi":"10.1016/j.jeem.2025.103149","DOIUrl":"10.1016/j.jeem.2025.103149","url":null,"abstract":"<div><div>This paper examines the differential impacts of early childhood exposure to air pollution on children’s health care use across parental income groups and vulnerability factors using French administrative data. Our quasi-experimental study reveals significant impacts on emergency admissions and respiratory medication in young children, attributed to air pollution shocks. Using causal machine learning, we identify these health impacts as predominantly affecting 10% of infants, characterized by poor health indicators at birth and lower parental income. Our results indicate that targeted policies based on vulnerability metrics may be more effective than those based solely on exposure levels.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103149"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143591551","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-02-17DOI: 10.1016/j.jeem.2025.103135
Hai Hong , Yongbin Huang
This paper presents new evidence on how multitasking local governments' strategic responses to top-down environmental regulations can induce pollution in border areas. Using the implementation of the Air Pollution Prevention and Control Action Plan in China as a quasi-experiment, we exploit a difference-in-differences model and find that this policy induces the border effect of air pollution. We further reveal a salient window dressing behavior of local governments, which air pollution in border counties reduces significantly as the high-stakes inspection time neared, followed by a dramatic increase soon after the inspection. These results are driven by local government responses to incomprehensive air quality monitor stations installed in non-border counties, and local officials with strong promotion incentives, who exert strict regulations in non-border counties while varied regulations in border counties over time to cater for the multitasking of economic growth and air quality targets.
{"title":"Order! the border: Multitasking, air pollution regulation and local government responses","authors":"Hai Hong , Yongbin Huang","doi":"10.1016/j.jeem.2025.103135","DOIUrl":"10.1016/j.jeem.2025.103135","url":null,"abstract":"<div><div>This paper presents new evidence on how multitasking local governments' strategic responses to top-down environmental regulations can induce pollution in border areas. Using the implementation of the Air Pollution Prevention and Control Action Plan in China as a quasi-experiment, we exploit a difference-in-differences model and find that this policy induces the border effect of air pollution. We further reveal a salient window dressing behavior of local governments, which air pollution in border counties reduces significantly as the high-stakes inspection time neared, followed by a dramatic increase soon after the inspection. These results are driven by local government responses to incomprehensive air quality monitor stations installed in non-border counties, and local officials with strong promotion incentives, who exert strict regulations in non-border counties while varied regulations in border counties over time to cater for the multitasking of economic growth and air quality targets.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103135"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143464677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-03-28DOI: 10.1016/j.jeem.2025.103157
Corey Lang, Jarron VanCeylon
There exists a consistent partisan gap in preferences for public spending on the environment, with approval being 20 to 40 percentage points higher for Democrats than Republicans. In this paper, we investigate whether there is a similar partisan gap present in residential preferences for environmental amenities. We link housing data, land use, and household characteristics, including voter registration, for three distinct housing markets, and we develop a residential sorting model to estimate marginal willingness-to-pay (MWTP) for residential proximity to conserved land, allowing for preference heterogeneity by partisanship as well as other household characteristics. For all households combined, we estimate average annual household MWTP for locations proximate to open space to range from $426 to $1061 across the three markets. In our model that allows for heterogeneous preferences across groups, we find no evidence that Republicans' MWTP is less than Democrats’ MWTP, and we statistically reject the magnitude of preference disparity found in voting studies. These findings establish a difference in relative preferences across venues that has implications for valuation research and political economy. To assess why relative preferences may differ across venues, we develop a simple theoretical model that applies to both housing and voting decisions and incorporates parameters for parochial altruism and tax aversion. Using prior estimates on partisan differences in key parameters, we find both intuitive and, to some extent, numerical support for the observed difference in relative preferences.
{"title":"Voting with their (left and right) feet: Are homebuyers’ values of neighborhood environmental amenities consistent with their politics?","authors":"Corey Lang, Jarron VanCeylon","doi":"10.1016/j.jeem.2025.103157","DOIUrl":"10.1016/j.jeem.2025.103157","url":null,"abstract":"<div><div>There exists a consistent partisan gap in preferences for public spending on the environment, with approval being 20 to 40 percentage points higher for Democrats than Republicans. In this paper, we investigate whether there is a similar partisan gap present in residential preferences for environmental amenities. We link housing data, land use, and household characteristics, including voter registration, for three distinct housing markets, and we develop a residential sorting model to estimate marginal willingness-to-pay (MWTP) for residential proximity to conserved land, allowing for preference heterogeneity by partisanship as well as other household characteristics. For all households combined, we estimate average annual household MWTP for locations proximate to open space to range from $426 to $1061 across the three markets. In our model that allows for heterogeneous preferences across groups, we find no evidence that Republicans' MWTP is less than Democrats’ MWTP, and we statistically reject the magnitude of preference disparity found in voting studies. These findings establish a difference in relative preferences across venues that has implications for valuation research and political economy. To assess why relative preferences may differ across venues, we develop a simple theoretical model that applies to both housing and voting decisions and incorporates parameters for parochial altruism and tax aversion. Using prior estimates on partisan differences in key parameters, we find both intuitive and, to some extent, numerical support for the observed difference in relative preferences.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103157"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143759070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-02-04DOI: 10.1016/j.jeem.2025.103122
Enrica De Cian , Giacomo Falchetta , Filippo Pavanello , Yasmin Romitti , Ian Sue Wing
We provide a first globally-relevant assessment of the electricity consumption consequences of households’ adaptation to ambient heat through air conditioning (AC). We use household survey data from 25 countries within a discrete-continuous choice empirical framework to model households’ joint air conditioning adoption and utilization decisions, and combine the estimated responses with scenarios of socioeconomic, demographic, and climatic change to project air conditioning prevalence and cooling electricity demand circa mid-century. We find that air conditioning ownership increases households’ electricity consumption by 36%, on average, but the effect is heterogeneous, varying with weather conditions, income and country contexts, revealing the importance of behaviors, practices, climate, and technologies. Compared to the other drivers of electricity consumption, air conditioning has the leading marginal effect, also accounting for a significant share of household budgets. By 2050, the overall effect is a net increase in global yearly residential cooling electricity to 976–1393 TWh, with an additional 670–956 Mt of CO emissions, and associated social costs of $124–177 billion. Our findings highlight cooling energy expenditure as an emerging indicator of energy poverty as the climate warms, and provide an initial quantification of the economic and environmental risks associated with air conditioning as an adaptation to climate change.
{"title":"The impact of air conditioning on residential electricity consumption across world countries","authors":"Enrica De Cian , Giacomo Falchetta , Filippo Pavanello , Yasmin Romitti , Ian Sue Wing","doi":"10.1016/j.jeem.2025.103122","DOIUrl":"10.1016/j.jeem.2025.103122","url":null,"abstract":"<div><div>We provide a first globally-relevant assessment of the electricity consumption consequences of households’ adaptation to ambient heat through air conditioning (AC). We use household survey data from 25 countries within a discrete-continuous choice empirical framework to model households’ joint air conditioning adoption and utilization decisions, and combine the estimated responses with scenarios of socioeconomic, demographic, and climatic change to project air conditioning prevalence and cooling electricity demand circa mid-century. We find that air conditioning ownership increases households’ electricity consumption by 36%, on average, but the effect is heterogeneous, varying with weather conditions, income and country contexts, revealing the importance of behaviors, practices, climate, and technologies. Compared to the other drivers of electricity consumption, air conditioning has the leading marginal effect, also accounting for a significant share of household budgets. By 2050, the overall effect is a net increase in global yearly residential cooling electricity to 976–1393 TWh, with an additional 670–956 Mt of CO<span><math><msub><mrow></mrow><mrow><mn>2</mn></mrow></msub></math></span> emissions, and associated social costs of $124–177 billion. Our findings highlight cooling energy expenditure as an emerging indicator of energy poverty as the climate warms, and provide an initial quantification of the economic and environmental risks associated with air conditioning as an adaptation to climate change.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103122"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143609742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-02-12DOI: 10.1016/j.jeem.2025.103134
Ying Chen , Wenjie Wu , Yanwen Yun
This paper examines the impact of China's 1998 “Two Control Zones” (TCZ) policy on firm productivity and local economies using geolocated micro data. The analysis relies on an instrumental variable based on engineering considerations related to pollution emissions. We find that the TCZ policy led to the exit of low-productivity firms and reduced ten-year productivity growth among surviving firms. These surviving firms adjusted by reducing coal consumption, altering their product mix, and increasing innovation activities, resulting in significant transitional costs. The negative effects are disproportionately larger for initially high-productivity firms that engage more actively in abatement efforts. The adverse impact is amplified in counties with closely related industries and strong vertical linkages. These findings highlight the uneven distributional costs of place-based environmental regulations.
{"title":"The geography of pollution regulation and productivity","authors":"Ying Chen , Wenjie Wu , Yanwen Yun","doi":"10.1016/j.jeem.2025.103134","DOIUrl":"10.1016/j.jeem.2025.103134","url":null,"abstract":"<div><div>This paper examines the impact of China's 1998 “Two Control Zones” (TCZ) policy on firm productivity and local economies using geolocated micro data. The analysis relies on an instrumental variable based on engineering considerations related to pollution emissions. We find that the TCZ policy led to the exit of low-productivity firms and reduced ten-year productivity growth among surviving firms. These surviving firms adjusted by reducing coal consumption, altering their product mix, and increasing innovation activities, resulting in significant transitional costs. The negative effects are disproportionately larger for initially high-productivity firms that engage more actively in abatement efforts. The adverse impact is amplified in counties with closely related industries and strong vertical linkages. These findings highlight the uneven distributional costs of place-based environmental regulations.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103134"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143455048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-05-01Epub Date: 2025-03-27DOI: 10.1016/j.jeem.2025.103151
Martin F. Quaas , Ralph Winkler
Sustainability and efficiency are potentially conflicting social objectives in natural resource management. We propose a market mechanism to allocate use rights over a stochastic resource to private managers, which is particularly parsimonious with respect to governing and monitoring institutions on which many traditional rights-based management practices rest. The mechanism endogenously determines the maximal tenure length guaranteeing sustainability over the entire period. In addition, the mechanism achieves efficiency, i.e., it maximizes the expected present value of resource rents that accrue to society. Potential applications include improved fishing agreements between developing countries and distant-water fishing fleets.
{"title":"A market mechanism for sustainable and efficient resource use under uncertainty","authors":"Martin F. Quaas , Ralph Winkler","doi":"10.1016/j.jeem.2025.103151","DOIUrl":"10.1016/j.jeem.2025.103151","url":null,"abstract":"<div><div>Sustainability and efficiency are potentially conflicting social objectives in natural resource management. We propose a market mechanism to allocate use rights over a stochastic resource to private managers, which is particularly parsimonious with respect to governing and monitoring institutions on which many traditional rights-based management practices rest. The mechanism endogenously determines the maximal tenure length guaranteeing sustainability over the entire period. In addition, the mechanism achieves efficiency, <em>i.e</em>., it maximizes the expected present value of resource rents that accrue to society. Potential applications include improved fishing agreements between developing countries and distant-water fishing fleets.</div></div>","PeriodicalId":15763,"journal":{"name":"Journal of Environmental Economics and Management","volume":"131 ","pages":"Article 103151"},"PeriodicalIF":5.5,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143759071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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