Pub Date : 2025-01-27DOI: 10.1016/j.reseneeco.2025.101481
Jean-Pierre Amigues , Gilles Lafforgue
We develop a dynamic model of energy use that relies on three primary sources: a ‘dirty’ fossil resource, a ‘clean’ fossil resource equipped with a specific abatement device, and a carbon-free renewable energy source. The total amount of carbon emissions is limited by a given carbon budget. Expenditures on adaptation measures can expand this budget by increasing society’s tolerance to the effects of climate change. Therefore, we make the carbon budget endogenous and dependent on the adaptation effort. Within this framework, we study the trade-offs between mitigation (achieved through energy substitutions and abatement) and adaptation to relax the climate constraint imposed by the carbon budget. We find that, without any abatement option, adaptation measures are only taken once carbon concentrations reach a minimum tolerance level for society. On the other hand, when abatement is possible, the economy should start implementing it as soon as it begins adapting. Over time, both abatement and adaptation efforts will increase until the economy reaches a point where it prefers to fully abate carbon emissions rather than investing further in adaptation. We refer to this point as the maximum adaptation frontier.
{"title":"Optimal adaptation policies under a carbon budget constraint","authors":"Jean-Pierre Amigues , Gilles Lafforgue","doi":"10.1016/j.reseneeco.2025.101481","DOIUrl":"10.1016/j.reseneeco.2025.101481","url":null,"abstract":"<div><div>We develop a dynamic model of energy use that relies on three primary sources: a ‘dirty’ fossil resource, a ‘clean’ fossil resource equipped with a specific abatement device, and a carbon-free renewable energy source. The total amount of carbon emissions is limited by a given carbon budget. Expenditures on adaptation measures can expand this budget by increasing society’s tolerance to the effects of climate change. Therefore, we make the carbon budget endogenous and dependent on the adaptation effort. Within this framework, we study the trade-offs between mitigation (achieved through energy substitutions and abatement) and adaptation to relax the climate constraint imposed by the carbon budget. We find that, without any abatement option, adaptation measures are only taken once carbon concentrations reach a minimum tolerance level for society. On the other hand, when abatement is possible, the economy should start implementing it as soon as it begins adapting. Over time, both abatement and adaptation efforts will increase until the economy reaches a point where it prefers to fully abate carbon emissions rather than investing further in adaptation. We refer to this point as the maximum adaptation frontier.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"82 ","pages":"Article 101481"},"PeriodicalIF":2.6,"publicationDate":"2025-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143176019","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 : 2025-01-23DOI: 10.1016/j.reseneeco.2025.101480
Axel Gautier , Julien Jacqmin , Jean-Christophe Poudou
Energy communities involve various agents who decide to invest in renewable production units. This paper examines how these communities interact with the energy system and can decrease its overall cost. First, we show that an energy community can contribute positively to welfare if the electricity produced by the investment is consumed close to its place of production, i.e if the community has a high degree of collective self-consumption. Second, our analysis identifies the condition on prices and grid tariffs to align the community’s interest with welfare maximization. We also show that some of these grid tariffs do not have a negative impact on non-members of the community and could therefore limit potential distributional issues. Third, various internal organizations of the energy communities are feasible. We show that the internal organization impacts the distribution of benefits among members but not the investment and the global efficiency of the community.
{"title":"The energy community and the grid","authors":"Axel Gautier , Julien Jacqmin , Jean-Christophe Poudou","doi":"10.1016/j.reseneeco.2025.101480","DOIUrl":"10.1016/j.reseneeco.2025.101480","url":null,"abstract":"<div><div>Energy communities involve various agents who decide to invest in renewable production units. This paper examines how these communities interact with the energy system and can decrease its overall cost. First, we show that an energy community can contribute positively to welfare if the electricity produced by the investment is consumed close to its place of production, <em>i.e</em> if the community has a high degree of collective self-consumption. Second, our analysis identifies the condition on prices and grid tariffs to align the community’s interest with welfare maximization. We also show that some of these grid tariffs do not have a negative impact on non-members of the community and could therefore limit potential distributional issues. Third, various internal organizations of the energy communities are feasible. We show that the internal organization impacts the distribution of benefits among members but not the investment and the global efficiency of the community.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"82 ","pages":"Article 101480"},"PeriodicalIF":2.6,"publicationDate":"2025-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143176020","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 : 2025-01-22DOI: 10.1016/j.reseneeco.2025.101478
Raúl Pezoa , Louis de Grange , Rodrigo Troncoso
Electrification of vehicles is recognized as a key strategy for meeting global climate change targets and achieving a sustainable transport industry. Despite extensive efforts by governments worldwide, electric vehicle (EV) penetration remains low, suggesting that some disadvantages of this technology are significant barriers to consumer adoption. However, most of these barriers are associated with vehicle purchase and may not apply to rental or sporadic use. In this paper, unlike most of the existing literature that focuses on purchase decisions, we study the factors influencing EV adoption within a ride-hailing context. To achieve this, employ full real user data for electric and conventional vehicles for ride-hailing trips in Santiago, Chile. Since at the time of study the electric option is a still a very novel service, we first characterize the early adopter users, and we compare them to non-adopters. Our results align with those reported for EV purchases. For instance, higher-income individuals are more likely to adopt EV in the context of ride-hailing. This suggests that, even with fewer adoption barriers in ride-hailing services, significant inequalities in access or preferences may persist. Additionally, we find that frequent users of the ride-hailing service are more inclined to try the electric option. Then, we develop a binary choice setting to estimate the willingness to pay for the electric option. The explanatory variables include fare, trip time, and wait time of each alternative. The main result indicates that users choosing the electric option are willing to sacrifice a small amount of additional travel time and much more wait time to use that alternative. Additionally, for longer trips there is a higher probability that a user will choose the electric option. Finally, we conduct sensitivity analyses, finding that a lower EV market share drives up the willingness to pay, making the EV option less elastic.
{"title":"Paying to depollute: The case of electric ride-hailing","authors":"Raúl Pezoa , Louis de Grange , Rodrigo Troncoso","doi":"10.1016/j.reseneeco.2025.101478","DOIUrl":"10.1016/j.reseneeco.2025.101478","url":null,"abstract":"<div><div>Electrification of vehicles is recognized as a key strategy for meeting global climate change targets and achieving a sustainable transport industry. Despite extensive efforts by governments worldwide, electric vehicle (EV) penetration remains low, suggesting that some disadvantages of this technology are significant barriers to consumer adoption. However, most of these barriers are associated with vehicle purchase and may not apply to rental or sporadic use. In this paper, unlike most of the existing literature that focuses on purchase decisions, we study the factors influencing EV adoption within a ride-hailing context. To achieve this, employ full real user data for electric and conventional vehicles for ride-hailing trips in Santiago, Chile. Since at the time of study the electric option is a still a very novel service, we first characterize the early adopter users, and we compare them to non-adopters. Our results align with those reported for EV purchases. For instance, higher-income individuals are more likely to adopt EV in the context of ride-hailing. This suggests that, even with fewer adoption barriers in ride-hailing services, significant inequalities in access or preferences may persist. Additionally, we find that frequent users of the ride-hailing service are more inclined to try the electric option. Then, we develop a binary choice setting to estimate the willingness to pay for the electric option. The explanatory variables include fare, trip time, and wait time of each alternative. The main result indicates that users choosing the electric option are willing to sacrifice a small amount of additional travel time and much more wait time to use that alternative. Additionally, for longer trips there is a higher probability that a user will choose the electric option. Finally, we conduct sensitivity analyses, finding that a lower EV market share drives up the willingness to pay, making the EV option less elastic.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"82 ","pages":"Article 101478"},"PeriodicalIF":2.6,"publicationDate":"2025-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143176018","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 : 2024-11-22DOI: 10.1016/j.reseneeco.2024.101465
Jorge Holzer , Geret DePiper , Elizabeth N. Brooks
Heuristic learning from personal experience is hard-wired in humans, but overreliance on experiential samples may lead to biased beliefs when such samples are not representative of the population. Prominent examples include skepticism towards climate change and an increasingly vocal anti-vaccine movement. In turn, biased beliefs may lead to stakeholder conflict when different parties hold competing views of reality and financial stakes are high. In this paper we focus on the commercial fishing industry. We develop a theoretical model to study harvesters’ incentives to challenge the science that informs management when the claims of official science are at odds with their personal experience. In the empirical application, the case of the Georges Bank cod fishery, we estimate the distribution of extra profits industry would expect to earn if their view of science were incorporated into policy. Our findings show strong incentives to lobby for lax regulations even when harvesters hold relatively low confidence in their own beliefs. An impatient industry would have strong incentives to challenge the official science. While the stock would eventually collapse in this scenario, leading to welfare losses, the crash of the cod population would take time. The industry’s overreliance on first-hand observations will ultimately undermine its own interests. This paper highlights the importance of effectively communicating and translating the technical aspects of science to the relevant audiences, particularly those directly impacted by its use in policy.
{"title":"Observability and stakeholder conflict in resources management","authors":"Jorge Holzer , Geret DePiper , Elizabeth N. Brooks","doi":"10.1016/j.reseneeco.2024.101465","DOIUrl":"10.1016/j.reseneeco.2024.101465","url":null,"abstract":"<div><div>Heuristic learning from personal experience is hard-wired in humans, but overreliance on experiential samples may lead to biased beliefs when such samples are not representative of the population. Prominent examples include skepticism towards climate change and an increasingly vocal anti-vaccine movement. In turn, biased beliefs may lead to stakeholder conflict when different parties hold competing views of reality and financial stakes are high. In this paper we focus on the commercial fishing industry. We develop a theoretical model to study harvesters’ incentives to challenge the science that informs management when the claims of official science are at odds with their personal experience. In the empirical application, the case of the Georges Bank cod fishery, we estimate the distribution of extra profits industry would expect to earn if their view of science were incorporated into policy. Our findings show strong incentives to lobby for lax regulations even when harvesters hold relatively low confidence in their own beliefs. An impatient industry would have strong incentives to challenge the official science. While the stock would eventually collapse in this scenario, leading to welfare losses, the crash of the cod population would take time. The industry’s overreliance on first-hand observations will ultimately undermine its own interests. This paper highlights the importance of effectively communicating and translating the technical aspects of science to the relevant audiences, particularly those directly impacted by its use in policy.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"81 ","pages":"Article 101465"},"PeriodicalIF":2.6,"publicationDate":"2024-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747008","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 : 2024-11-13DOI: 10.1016/j.reseneeco.2024.101464
Robert Fonner, Leif Anderson
This article develops a demand model of recreational steelhead fishing to estimate how changes in catch rates and the percentage of catch of wild (vs. hatchery) origin influence angler welfare. Demand models of recreational fishing often rely on discrete choice experiments that are centered on the overall average attribute levels experienced within a fishery. In contrast, many recreational fisheries are characterized by heterogeneous anglers facing heterogeneous consideration sets and attribute levels experienced at given sites. Within the context of the steelhead fishery of Washington State, USA, we conducted a discrete choice experiment that closely mirrored the actual levels of catch rates experienced and locations used by individuals. The experiment varied catch rates and the percentage of steelhead that were of wild (vs. hatchery) origin. Estimated mean willingness-to-pay for a change in catch rates was an order of magnitude larger than mean willingness-to-pay for proportional changes in the percent of steelhead catch that was wild, indicating that catch rates were the primary determinant of behavior. The effects of both attributes depended on the catch- and location-specific baselines experienced by anglers.
{"title":"Accounting for baseline individual and site characteristics when estimating recreational demand for specialized activities","authors":"Robert Fonner, Leif Anderson","doi":"10.1016/j.reseneeco.2024.101464","DOIUrl":"10.1016/j.reseneeco.2024.101464","url":null,"abstract":"<div><div>This article develops a demand model of recreational steelhead fishing to estimate how changes in catch rates and the percentage of catch of wild (vs. hatchery) origin influence angler welfare. Demand models of recreational fishing often rely on discrete choice experiments that are centered on the overall average attribute levels experienced within a fishery. In contrast, many recreational fisheries are characterized by heterogeneous anglers facing heterogeneous consideration sets and attribute levels experienced at given sites. Within the context of the steelhead fishery of Washington State, USA, we conducted a discrete choice experiment that closely mirrored the actual levels of catch rates experienced and locations used by individuals. The experiment varied catch rates and the percentage of steelhead that were of wild (vs. hatchery) origin. Estimated mean willingness-to-pay for a change in catch rates was an order of magnitude larger than mean willingness-to-pay for proportional changes in the percent of steelhead catch that was wild, indicating that catch rates were the primary determinant of behavior. The effects of both attributes depended on the catch- and location-specific baselines experienced by anglers.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"81 ","pages":"Article 101464"},"PeriodicalIF":2.6,"publicationDate":"2024-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142757292","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 : 2024-11-09DOI: 10.1016/j.reseneeco.2024.101463
Jose D. Lopez-Rivas
This paper reports the direct and spillover effects of a norm-based informational campaign on residential water usage. I follow a two-stage randomized saturation design to produce and measure interference within utilities. A percentage of households within utilities is targeted to receive periodic reports comparing their usage to neighbors' average, while the rest are left untreated to measure spillover effects. I find targeted and spillover households reduced their water usage compared to the control group, with average reductions of 8.2 % and 5.6 %, respectively. I also find that the campaign’s effects depend on the number of targeted households within a utility, the feedback frequency, baseline water usage, and the proximity to other directly treated households. The findings shed light on the efficacy of leveraging social influence and norms to foster environmentally responsible behaviors.
{"title":"Spreading the word! Effects of a randomized normative informational campaign on residential water conservation","authors":"Jose D. Lopez-Rivas","doi":"10.1016/j.reseneeco.2024.101463","DOIUrl":"10.1016/j.reseneeco.2024.101463","url":null,"abstract":"<div><div>This paper reports the direct and spillover effects of a norm-based informational campaign on residential water usage. I follow a two-stage randomized saturation design to produce and measure interference within utilities. A percentage of households within utilities is targeted to receive periodic reports comparing their usage to neighbors' average, while the rest are left untreated to measure spillover effects. I find targeted and spillover households reduced their water usage compared to the control group, with average reductions of 8.2 % and 5.6 %, respectively. I also find that the campaign’s effects depend on the number of targeted households within a utility, the feedback frequency, baseline water usage, and the proximity to other directly treated households. The findings shed light on the efficacy of leveraging social influence and norms to foster environmentally responsible behaviors.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"79 ","pages":"Article 101463"},"PeriodicalIF":2.6,"publicationDate":"2024-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142656335","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 : 2024-10-09DOI: 10.1016/j.reseneeco.2024.101462
Pedro Naso
I study the drivers of a reduction in the discretionary power of environmental inspectors and the impact that such reduction has on firms’ perceptions. I examine the transition from the Air Pollution Protection Act of 1965 to the Air Quality Act of 2005 (AQA), a change from full to partial delegation of regulation in South Africa. By constructing a principal–agent model, I propose a theoretical explanation for why a society would restrict environmental inspectors’ discretionary power. I then use my theoretical model to discuss the air quality regulation transition in South Africa. I suggest that the transition might have occurred because of increases in inspectors’ rent-seeking motivation and capacity of appropriating rents after the end of Apartheid. Using microdata, I run difference-in-differences models in a two-period panel with 191 South African firms to show that the implementation of the AQA decreases affected firms’ perceived corruption, but does not change perceptions on obtaining licences and on the functioning of courts. My work indicates that national governments in developing countries should consider the characteristics of the agents who are implementing regulation, and the system they are embedded in, when designing environmental regulation.
{"title":"Delegation of environmental regulation and perceived corruption in South Africa","authors":"Pedro Naso","doi":"10.1016/j.reseneeco.2024.101462","DOIUrl":"10.1016/j.reseneeco.2024.101462","url":null,"abstract":"<div><div>I study the drivers of a reduction in the discretionary power of environmental inspectors and the impact that such reduction has on firms’ perceptions. I examine the transition from the Air Pollution Protection Act of 1965 to the Air Quality Act of 2005 (AQA), a change from full to partial delegation of regulation in South Africa. By constructing a principal–agent model, I propose a theoretical explanation for why a society would restrict environmental inspectors’ discretionary power. I then use my theoretical model to discuss the air quality regulation transition in South Africa. I suggest that the transition might have occurred because of increases in inspectors’ rent-seeking motivation and capacity of appropriating rents after the end of Apartheid. Using microdata, I run difference-in-differences models in a two-period panel with 191 South African firms to show that the implementation of the AQA decreases affected firms’ perceived corruption, but does not change perceptions on obtaining licences and on the functioning of courts. My work indicates that national governments in developing countries should consider the characteristics of the agents who are implementing regulation, and the system they are embedded in, when designing environmental regulation.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"79 ","pages":"Article 101462"},"PeriodicalIF":2.6,"publicationDate":"2024-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142434184","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 : 2024-09-20DOI: 10.1016/j.reseneeco.2024.101460
Dietrich Earnhart , Lana Friesen
While previous studies demonstrate the importance of social norms for explaining the pro-environmental behavior of individual consumers, very few studies examine the role of social norms in the context of businesses’ pro-environmental decisions. This study contributes to the rich social norm literature by exploring whether professional social norms influence the compliance decisions of regulated chemical manufacturing facilities. To this end, the empirical analysis uses data on major facilities regulated under the U.S. Clean Water Act to estimate the link from the compliance history of other major chemical manufacturing facilities operating in the same state to an individual facility’s current compliance decision. Using a fixed-effects model that includes a large set of confounding factors, we find a significant positive effect of other facilities’ compliance history: improvement in the average compliance history prompts the individual facility to increase its own performance. By controlling for other plausible channels that link facility’s compliance decisions, we interpret this relationship as reflecting descriptive professional norms. The relationship proves stronger for facilities that are either geographically or sectorally closer.
{"title":"The effect of professional social norms on corporate environmental compliance","authors":"Dietrich Earnhart , Lana Friesen","doi":"10.1016/j.reseneeco.2024.101460","DOIUrl":"10.1016/j.reseneeco.2024.101460","url":null,"abstract":"<div><div>While previous studies demonstrate the importance of social norms for explaining the pro-environmental behavior of individual consumers, very few studies examine the role of social norms in the context of businesses’ pro-environmental decisions. This study contributes to the rich social norm literature by exploring whether professional social norms influence the compliance decisions of regulated chemical manufacturing facilities. To this end, the empirical analysis uses data on major facilities regulated under the U.S. Clean Water Act to estimate the link from the compliance history of other major chemical manufacturing facilities operating in the same state to an individual facility’s current compliance decision. Using a fixed-effects model that includes a large set of confounding factors, we find a significant positive effect of other facilities’ compliance history: improvement in the average compliance history prompts the individual facility to increase its own performance. By controlling for other plausible channels that link facility’s compliance decisions, we interpret this relationship as reflecting descriptive professional norms. The relationship proves stronger for facilities that are either geographically or sectorally closer.</div></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"79 ","pages":"Article 101460"},"PeriodicalIF":2.6,"publicationDate":"2024-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142442788","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 : 2024-09-19DOI: 10.1016/j.reseneeco.2024.101461
Eric Nævdal
The literature on how price changes affect optimally managed fisheries is mostly concerned with how fish stocks and harvest rates are affected in steady state. There is little published on how prices affect optimal harvest rates at stock levels outside of steady state. Here we show the effect of an unanticipated and permanent price increase. It is shown that in a model of a pure schooling fishery, if the stock is below the steady state, it is optimal to harvest less if the price goes up and vice versa. It is also shown that in a model with stock dependent harvest costs, the optimal response to a price increase is to reduce the harvest rate for low stock levels even if the optimal harvest rate increases close to the steady state. Empirical relevance is demonstrated by illustrating the theoretical results in an estimated model.
{"title":"Optimal fisheries management and the response to price changes","authors":"Eric Nævdal","doi":"10.1016/j.reseneeco.2024.101461","DOIUrl":"10.1016/j.reseneeco.2024.101461","url":null,"abstract":"<div><p>The literature on how price changes affect optimally managed fisheries is mostly concerned with how fish stocks and harvest rates are affected in steady state. There is little published on how prices affect optimal harvest rates at stock levels outside of steady state. Here we show the effect of an unanticipated and permanent price increase. It is shown that in a model of a pure schooling fishery, if the stock is below the steady state, it is optimal to harvest less if the price goes up and vice versa. It is also shown that in a model with stock dependent harvest costs, the optimal response to a price increase is to reduce the harvest rate for low stock levels even if the optimal harvest rate increases close to the steady state. Empirical relevance is demonstrated by illustrating the theoretical results in an estimated model.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"79 ","pages":"Article 101461"},"PeriodicalIF":2.6,"publicationDate":"2024-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S092876552400037X/pdfft?md5=7b2e10df89e97e975890da9ba05cc774&pid=1-s2.0-S092876552400037X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142270840","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 : 2024-06-01DOI: 10.1016/j.reseneeco.2024.101449
Kwabena Bediako , Bruno Nkuiya
Natural resources such as fish, and wildlife have the ability to move across different areas within an ecosystem. Such movements are subject to random changes in environmental conditions (e.g., nutrients, temperature, oxygen). Although empirical evidence suggests that learning about such movements helps improve management, the related economic literature concentrates on scenarios in which the resource population lives in a closed area and cannot migrate. In this paper, we develop a spatial bioeconomic model to examine a renewable resource harvester’s responses to learning about fish movements. Our baseline is the scenario in which the harvester is fully informed about the distribution of fish movements. We find that introducing uncertainty and learning about fish movements critically affects extraction incentives. For instance, we show that uncertainty and learning may increase harvest in a patch and reduce harvest in another patch when the marginal harvesting cost function is constant. In the stock dependent marginal harvesting cost case, we delineate conditions under which uncertainty and learning increase harvest in all patches. We also show how harvest responses to learning change with the distribution of uncertainty.
{"title":"Learning and uncertainty in spatial resource management","authors":"Kwabena Bediako , Bruno Nkuiya","doi":"10.1016/j.reseneeco.2024.101449","DOIUrl":"https://doi.org/10.1016/j.reseneeco.2024.101449","url":null,"abstract":"<div><p>Natural resources such as fish, and wildlife have the ability to move across different areas within an ecosystem. Such movements are subject to random changes in environmental conditions (e.g., nutrients, temperature, oxygen). Although empirical evidence suggests that learning about such movements helps improve management, the related economic literature concentrates on scenarios in which the resource population lives in a closed area and cannot migrate. In this paper, we develop a spatial bioeconomic model to examine a renewable resource harvester’s responses to learning about fish movements. Our baseline is the scenario in which the harvester is fully informed about the distribution of fish movements. We find that introducing uncertainty and learning about fish movements critically affects extraction incentives. For instance, we show that uncertainty and learning may increase harvest in a patch and reduce harvest in another patch when the marginal harvesting cost function is constant. In the stock dependent marginal harvesting cost case, we delineate conditions under which uncertainty and learning increase harvest in all patches. We also show how harvest responses to learning change with the distribution of uncertainty.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"78 ","pages":"Article 101449"},"PeriodicalIF":2.6,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141607726","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}
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