Resource and Energy Economics最新文献_第2页

Ambiguity, value of information and forest rotation decision under storm risk 风暴风险下的模糊性、信息价值与森林轮作决策

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-09-29 DOI: 10.1016/j.reseneeco.2025.101536

Patrice Loisel , Marielle Brunette , Stéphane Couture

Storm is a major risk in forestry. However, due to the more or less pessimistic scenarios of future climate change, storm frequency is now ambiguous and only partially known (i.e., scenario ambiguity). Furthermore, within each scenario, the quantification of storm frequency is also ambiguous due to the differences in risk quantification by experts, creating a second level of ambiguity (i.e., frequency ambiguity). In such an ambiguous context, knowledge of the future climate through accurate information about this risk is fundamental and can be of significant value. In this paper, we question how ambiguity and ambiguity aversion affect forest management, in particular, optimal cutting age. Using a classical Faustmann framework of forest rotation decisions, we compare three different situations: risk, scenario ambiguity and frequency ambiguity. We show that in a context of risk or scenario ambiguity, a forest owner characterized by risk aversion and ambiguity aversion reduces the optimal cutting age, whereas in a context of frequency ambiguity the owner does not change it. The optimal cutting age is always reduced when risk aversion increases, whereas an increase in ambiguity aversion never has an impact. The value of information that resolves scenario ambiguity is low and it is almost null for frequency ambiguity.

风暴是林业的主要风险。然而，由于对未来气候变化或多或少悲观的设想，风暴频率现在是模糊的，而且只是部分已知的（即设想模糊）。此外，在每个情景中，由于专家在风险量化方面的差异，风暴频率的量化也存在歧义，从而产生了第二级歧义（即频率歧义）。在这样一个模棱两可的背景下，通过这种风险的准确信息来了解未来气候是至关重要的，而且可能具有重大价值。在本文中，我们质疑歧义和歧义厌恶如何影响森林管理，特别是最佳采伐年龄。利用经典的fastmann森林轮作决策框架，我们比较了三种不同的情况：风险、情景模糊和频率模糊。研究表明，在风险或情景模糊的情况下，具有风险规避和模糊规避特征的森林所有者降低了最优采伐年龄，而在频率模糊的情况下，所有者不改变最优采伐年龄。当风险厌恶增加时，最佳切割年龄总是降低，而模糊厌恶的增加则不会产生影响。解决场景歧义的信息价值很低，而解决频率歧义的信息价值几乎为零。

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引用次数: 0

Discounting and extraction behavior in continuous time resource experiments 连续时间资源实验中的折现与提取行为

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-08-21 DOI: 10.1016/j.reseneeco.2025.101531

Marion Davin, Dimitri Dubois, Katrin Erdlenbruch, Marc Willinger

Experimenting with dynamic games raises issues about implementing discounting in experiments. Theoretical rational decision-makers evaluate payoff streams by converting them to a reference period, often “time zero.” In experiments, subjects can adapt their strategy continuously. We explore individual behavior in a dynamic resource extraction experiment with two treatments: “z-discounting” (evaluating gains at time zero) and “p-discounting” (evaluating gains in present-time equivalents). Contrary to theoretical predictions, our data shows a significant positive treatment effect, indicating more substantial extraction under p-discounting. This challenges the theoretical model and prompts discussion on methodological considerations for discounting in laboratory settings.

动态游戏实验引发了关于在实验中执行折扣的问题。理论上理性的决策者通过将收益流转换为参考期（通常是“时间零”）来评估收益流。在实验中，受试者可以不断地调整他们的策略。我们在动态资源提取实验中探索了两种处理方法的个体行为：“z折现”（评估时间零的收益）和“p折现”（评估当前等价物的收益）。与理论预测相反，我们的数据显示了显著的积极处理效果，表明p-贴现下提取量更大。这对理论模型提出了挑战，并引发了对实验室环境中贴现方法考虑的讨论。

引用次数: 0

Land scarcity, sustainable uses and environmental policies 土地短缺，可持续利用和环境政策

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-08-20 DOI: 10.1016/j.reseneeco.2025.101532

Alessandro Bellocchi , Enrico Saltari , Giuseppe Travaglini

We present a dynamic model of land use in a small economy, where land is a fixed resource that can either be used for food consumption, resulting in pollution, or invested in natural capital. Land scarcity imposes a quantity constraint that creates a trade-off between these alternative uses. This constraint shapes the dynamics of the system, influencing its differential equations and leading to a differential–algebraic system of equations (DAE). This approach represents a novelty compared to environmental dynamic models that rely solely on differential equations. Using this analytical framework, we show that shadow prices and stocks are closely interconnected and must be determined simultaneously. We use the DAE system to explore the impact of supranational policies aimed at achieving broader environmental goals on land allocation in the small economy. We derive two main results. First, the relative effectiveness of policy instruments is determined by the pollution intensity of consumption: when pollution intensity is low, incentives that promote land investment in natural capital are more efficient; conversely, when pollution intensity is high, regulatory measures that limit land use for consumption become more effective. Second, although temporary policies do not affect the long-run steady state of the system, they significantly accelerate the transition toward a more sustainable land allocation in the medium term.

我们提出了一个小型经济体中土地利用的动态模型，其中土地是一种固定资源，可以用于食品消费，导致污染，也可以投资于自然资本。土地稀缺造成了数量限制，在这些替代用途之间产生了权衡。这种约束塑造了系统的动力学，影响其微分方程并导致微分代数方程组（DAE）。与仅依赖微分方程的环境动态模型相比，这种方法代表了一种新颖的方法。利用这一分析框架，我们表明影子价格和股票是紧密相连的，必须同时确定。我们使用DAE系统来探索旨在实现更广泛的环境目标的超国家政策对小型经济体土地分配的影响。我们得到两个主要结果。首先，政策工具的相对有效性取决于消费的污染强度：当污染强度较低时，促进土地投资于自然资本的激励措施更有效；相反，当污染强度高时，限制土地消费的管制措施就会更加有效。第二，虽然临时政策不会影响系统的长期稳定状态，但它们在中期显著加速了向更可持续的土地分配的过渡。

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引用次数: 0

Complexities in the simple optimization of wood production and carbon sinks 简单优化木材生产和碳汇的复杂性

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-08-19 DOI: 10.1016/j.reseneeco.2025.101533

Samuli Korhonen, Olli Tahvonen

To resolve several open issues in the forestry and carbon literature, we apply an analytically solvable stand-level model for optimizing the values of wood production and carbon sinks. We show that when stand volume development has a peak, locally optimal finite and infinite rotation periods may exist simultaneously. With infinite rotation period, forests are most valuable as a carbon storage, and this outcome is shown to depend on discount rate and, in specific situations, on initial stand age. Rotation periods maximizing the pure value of carbon sinks is proved to lengthen with discount rate. In contrast to existing understanding, zero discounting does not render carbon sink enhancement as superfluous; instead, maximizing the average carbon stock in standing forests and in harvested biomass is shown to become the long-run optimality criterion. However, combining carbon sinks with wood production implies that the role of carbon completely disappears when the discount rate approaches zero. The value of carbon sinks changes the rationale of stand value and its development over the rotation. Our results have far-reaching implications in interpreting various carbon sink studies.

为了解决林业和碳文献中的几个开放问题，我们应用了一个可解析解决的林分水平模型来优化木材生产和碳汇的价值。研究表明，当林分发育达到峰值时，局部最优的有限和无限旋转周期可能同时存在。在无限循环周期下，森林作为碳储存最有价值，这一结果显示取决于贴现率，在特定情况下取决于初始林龄。证明了使碳汇纯价值最大化的循环周期随着折现率的增加而延长。与现有的理解相反，零折扣不会使碳汇的增加成为多余的；相反，最大化现存森林和收获生物量的平均碳储量被证明是长期的最优标准。然而，将碳汇与木材生产结合起来意味着，当贴现率接近于零时，碳的作用完全消失。碳汇的价值改变了林分价值及其发展的基本原理。我们的结果对解释各种碳汇研究具有深远的意义。

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引用次数: 0

Sampling of alternatives in spatial decision contexts with logit and logit mixture models: Simulation and application to freshwater recreation in Germany logit和logit混合模型在空间决策背景下的选择抽样：德国淡水娱乐的模拟和应用

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-08-19 DOI: 10.1016/j.reseneeco.2025.101535

Oliver Becker, Tobias Börger, Jürgen Meyerhoff

Destination choice modeling is challenging as the number of feasible sites is often very large. Sampling of alternatives has been used successfully to make large choice sets manageable and yields consistent estimates under certain conditions. However, the specific structure of destination choice data has rarely been addressed explicitly. Besides large numbers of alternatives, it is characterized by a skewed distribution of travel costs with few low-cost nearby sites and a disproportionate increase in alternatives with distance. In this paper, we investigate how this characteristic travel cost structure affects the quality of destination choice models estimated on samples of alternatives. Comparing uniform and strategic sampling (Lemp and Kockelman, 2012), we find that (i) strategic sampling reduces bias and improves efficiency relative to uniform sampling, (ii) sampling performance generally declines with stronger travel cost sensitivity, and (iii) the gains from strategic sampling increase as travel cost sensitivity becomes stronger. For multinomial logit, strategic sampling yields high levels of accuracy and precision when drawing as few as 10 out of 20,000 alternatives. For mixed logit, bias is higher, while the protocol still offers substantial performance gains. After presenting Monte Carlo evidence, we apply both sampling approaches to a nationwide freshwater recreation dataset and examine their impact on welfare estimates for two policy scenarios, as well as on bias and efficiency.

目的地选择建模具有挑战性，因为可行站点的数量通常非常大。备选方案的抽样已成功地用于使大的选择集易于管理，并在某些条件下产生一致的估计。然而，目的地选择数据的具体结构很少得到明确的解决。除了大量的选择外，它的特点是旅行成本分布不平衡，附近的低成本地点很少，而且随着距离的增加，选择的数量不成比例地增加。在本文中，我们研究了这种特征的旅行成本结构如何影响目的地选择模型的质量。比较均匀抽样和策略抽样（Lemp和Kockelman， 2012），我们发现(i)相对于均匀抽样，策略抽样减少了偏差，提高了效率；（ii）随着旅行成本敏感性的增强，抽样性能一般会下降；（iii）随着旅行成本敏感性的增强，策略抽样的收益会增加。对于多项逻辑，策略抽样产生高水平的准确性和精度，当绘制少至10的20,000个备选方案。对于混合logit，偏差更高，而协议仍然提供了大量的性能增益。在提供蒙特卡罗证据之后，我们将这两种抽样方法应用于全国淡水娱乐数据集，并检查它们对两种政策情景下福利估计的影响，以及偏差和效率。

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引用次数: 0

Ghost fishing and the voluntary adoption of biodegradable gear 幽灵捕鱼和自愿采用生物可降解渔具

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-08-18 DOI: 10.1016/j.reseneeco.2025.101534

Huu-Luat Do , Todd L. Cherry

The use of biodegradable fishing gear is increasingly seen as a way to mitigate the negative impacts associated with abandoned, lost, or otherwise discarded fishing gear (ALDFG), often referred to as “ghost gear”. However, a major concern with such an environmentally friendly technique is its potential to reduce catch efficiency due to its degradable characteristics, which may diminish competitiveness. To contribute to the limited empirical evidence, we conducted a survey experiment to investigate how the effectiveness of biodegradable gear, compared to conventional fishing gear, influences the adoption by Norwegian fishers. Our findings reveal that fishers are willing to adopt biodegradable fishing gear without conditions if its catch efficiency is comparable to conventional gear. We consider alternative adoption conditions and find that, as the relative efficiency of biodegradable gear decreases, the individual adoption decision becomes more conditional on other fishers doing so. These findings suggest that strategic concerns make conditional adoption important to widespread use of biodegradable gear. Specifically, adoption depends on improving the relative catch efficiency of biodegradable gear or implementing policies that lead to widespread adoption. Results indicates that marine environment protection concerns drive adoption, while economic concerns drive opposition.

使用可生物降解渔具越来越被视为减轻与废弃、丢失或以其他方式丢弃的渔具（ALDFG）（通常被称为“幽灵渔具”）相关的负面影响的一种方法。然而，这种环境友好技术的一个主要问题是，由于其可降解的特性，它有可能降低捕获效率，从而可能降低竞争力。为了提供有限的经验证据，我们进行了一项调查实验，以调查与传统渔具相比，生物可降解渔具的有效性如何影响挪威渔民的采用。我们的研究结果表明，如果生物降解渔具的捕捞效率与传统渔具相当，渔民愿意无条件采用生物降解渔具。我们考虑了不同的收养条件，发现当生物可降解渔具的相对效率降低时，个体的收养决定对其他渔民来说变得更有条件。这些发现表明，战略性的考虑使得有条件的采用对广泛使用生物可降解齿轮很重要。具体地说，采用取决于提高可生物降解渔具的相对捕捞效率或执行导致广泛采用的政策。结果表明，对海洋环境保护的关注推动了采用，而对经济的关注则推动了反对。

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引用次数: 0

Government-guided voluntary environmental regulations and the entry of green investors: Evidence from the Chinese green factory program 政府引导的自愿性环境法规与绿色投资者的进入：来自中国绿色工厂项目的证据

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-08-13 DOI: 10.1016/j.reseneeco.2025.101530

Xinze Li , Jiayin Zhu , Qiuyun Zhao , Gaofei Zhang , Yuan Gao

Leveraging China's distinctive Green Factory Program, we analyse investment data from publicly listed companies and securities funds to assess how voluntary environmental regulations influence the behaviour of green investors. Our findings indicate that the program significantly increased both the number and proportion of green investors attracted to participating firms. The observed effects are driven by several key mechanisms: reduced environmental information asymmetry, enhanced government incentives, improved market performance, and better risk management facilitated by the program. Additional analysis reveals that the impact is especially pronounced among firms with lower environmental sensitivity and less media scrutiny, as well as in regions facing stronger environmental governance challenges and legal risks. Overall, our study provides robust evidence that voluntary environmental regulations can meaningfully shape the investment decisions of green investors.

利用中国独特的绿色工厂计划，我们分析了上市公司和证券基金的投资数据，以评估自愿性环境法规如何影响绿色投资者的行为。我们的研究结果表明，该计划显著增加了参与企业吸引绿色投资者的数量和比例。观察到的效果是由几个关键机制驱动的：减少环境信息不对称，加强政府激励，改善市场绩效，以及该计划促进了更好的风险管理。进一步的分析表明，这种影响在环境敏感性较低、媒体监督较少的企业以及面临更大环境治理挑战和法律风险的地区尤为明显。总体而言，我们的研究提供了强有力的证据，证明自愿性环境法规可以有效地塑造绿色投资者的投资决策。

引用次数: 0

Negotiations of oil and gas auxiliary lease clauses: Evidence from Pennsylvania’s Marcellus Shale 油气辅助租赁条款的谈判：来自宾夕法尼亚州Marcellus页岩的证据

IF 3.1 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-08-01 DOI: 10.1016/j.reseneeco.2025.101515

Max Harleman , Pramod Manohar , Elaine L. Hill

Oil and gas lease negotiations provide mineral owners with the opportunity to negotiate for both compensation and clauses that may protect their health and the enjoyment of their properties. We use optical character recognition to assemble the most comprehensive dataset to date on royalty rates and clauses in nearly 60,000 leases signed in Pennsylvania’s Marcellus Shale. We leverage our data to produce three descriptive findings. First, we find a positive relationship between royalty rates and the prevalence of protective clauses. Second, we find that as development of the shale play progressed over time, royalty rates rose and leases became more likely to contain several protective clauses. Third, we find that royalty rates and the presence of protective clauses bear a weak relationship with the geologic productivity of nearby wells, explained by few firms competing in geographically segregated leasing markets. Some leases simultaneously containing higher royalty rates and more protective clauses suggests that there is a bargaining surplus in leasing markets, though our results do not identify the mechanism through which the surplus is allocated. The allocation appears not to depend on the productivity of the mineral estate, and may instead reflect mineral owners’ differing preferences, negotiating skills, legal resources, and access to information. By documenting 43 clauses found in shale leases and their prevalence — more than double the number identified in past research — we provide critical information that can help mineral owners overcome information asymmetries and increase transparency and equity in leasing markets.

石油和天然气租赁谈判为矿主提供了就补偿和可能保护其健康和享受其财产的条款进行谈判的机会。我们使用光学字符识别技术收集了迄今为止最全面的数据集，其中包括宾夕法尼亚州马塞勒斯页岩签署的近6万份租约的特许权使用费和条款。我们利用我们的数据产生了三个描述性的发现。首先，我们发现版税费率与保护条款的盛行率之间存在正相关关系。其次，我们发现，随着页岩气开发的推进，特许权使用费上升，租约更有可能包含一些保护性条款。第三，我们发现特许权使用费和保护条款的存在与附近井的地质生产率之间的关系很弱，这可以解释为在地理隔离的租赁市场上竞争的公司很少。一些租赁同时包含更高的特许权使用费和更多的保护性条款，这表明租赁市场中存在议价盈余，尽管我们的研究结果并没有确定盈余分配的机制。分配似乎不取决于矿产的生产率，而可能反映矿主的不同偏好、谈判技巧、法律资源和获取信息的机会。通过记录在页岩租约中发现的43项条款及其普遍程度（比过去研究中发现的数量多一倍以上），我们提供了关键信息，可以帮助矿主克服信息不对称，提高租赁市场的透明度和公平性。

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引用次数: 0

Water sharing and equity-efficiency trade-offs: Evidence from a lab-in-the-field experiment in India 水资源共享与公平效率的权衡：来自印度实地实验室实验的证据

IF 2.6 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-07-18 DOI: 10.1016/j.reseneeco.2025.101510

Benjamin Ouvrard , Arnaud Reynaud , Stéphane Cezera , Alban Thomas , Dishant Jojit James , Murudaiah Shivamurthy

We conduct a lab-in-the-field experiment to analyze the preferences of Indian farmers (Karnataka state) regarding surface water sharing. To elicit impartial social preferences, we implement a dictator game behind the veil of ignorance in which a limited quantity of water has to be allocated between two farmers which differ in terms of location (upstream versus downstream) and water productivity. We first show that subjects express preferences for allocating less water to the downstream farmer. Next, we demonstrate that a majority of subjects’ decisions are consistent with efficient, egalitarian in payoff or egalitarian in quantity behaviors. Last, more efficient water allocation behaviors can be induced by modifying subjects’ choice architecture. For instance, a loss framing is shown to induce subjects to share more efficiently the water resource, but only when the most productive farmer is located downstream.

我们进行了一项实验室现场实验，以分析印度农民（卡纳塔克邦）对地表水共享的偏好。为了引出公正的社会偏好，我们在无知的面纱背后实施了一个独裁者游戏，在这个游戏中，两个农民必须在不同的位置（上游和下游）和水生产力之间分配有限的水。我们首先表明，受试者表示倾向于分配较少的水给下游农民。接下来，我们证明了大多数被试的决策符合效率行为、平均主义的回报行为或平均主义的数量行为。最后，通过改变被试的选择结构，可以诱导更有效的水资源分配行为。例如，损失框架被证明可以诱导受试者更有效地分享水资源，但只有当最具生产力的农民位于下游时。

引用次数: 0

Does adoption always follow innovation? 创新之后总是采用吗？

IF 2.6 3区经济学 Q1 ECONOMICS

Resource and Energy Economics

Pub Date : 2025-07-05 DOI: 10.1016/j.reseneeco.2025.101514

Oliwia Kurtyka, Rania Mabrouk

The extent to which innovation is good news for environment depends not only on the research and development incentives but also on adoption stimulus. We analyze firm’s choice of abatement technology in vertical chains. A downstream polluting monopoly can sign a contract with an upstream supplier of mature end-of-pipe equipment or develop an in-house clean technology. We show that contracting plays a crucial role in the efficiency of environmental regulation in spurring adoption. We find that polluter’s innovation may be undertaken only to increase bargaining power and a share of industry profits he manages to capture. Consequently, polluter’s and regulator’s interests are not always aligned. The role of regulator as a technology forcing authority is partially confirmed in regions of under-investment. However, the regulator may not be able to trigger innovation and/or adoption if clean technology increases marginal costs too much. On the other hand, regulator may become laxer and oppose innovation in case of over-investment. All these results rely upon the creation of total profits from the integrated vertical structure and the partitioning rule.

创新在多大程度上对环境有利，不仅取决于研发激励措施，还取决于采用激励措施。本文分析了垂直产业链企业减排技术的选择。下游污染垄断企业可以与上游成熟的管道末端设备供应商签订合同，或开发内部清洁技术。我们表明，在促进采用环境法规的效率方面，合同起着至关重要的作用。我们发现，污染者的创新可能只是为了提高议价能力和他设法获得的行业利润份额。因此，污染者和监管者的利益并不总是一致的。在投资不足的地区，监管机构作为技术强制当局的作用得到了部分证实。然而，如果清洁技术使边际成本增加太多，监管机构可能无法引发创新和/或采用。另一方面，在过度投资的情况下，监管可能会变得宽松，反对创新。所有这些结果都依赖于一体化垂直结构和分割规则所创造的总利润。

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引用次数: 0