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Exit Timing Decisions Under Land Speculation And Resource Scarcity In Agriculture, Ram Ranjan, Sorada Tapsuwan
Exit Timing Decisions Under Land Speculation And Resource Scarcity In Agriculture, Ram Ranjan, Sorada Tapsuwan
Ram Ranjan
This paper models the impact of water scarcity in agriculture on the timing of exit decisions for farmers faced with the prospect of declining profitability in agriculture but increasing benefits from land rezoning in the future. The prospects of land rezoning are modeled as a Poisson process. The analysis highlights the role of speculative rewards in making farmers resilient to declining profitability in agriculture and also identifies the circumstances under which water prices may become an ineffective policy tool for allocating water. An empirical application is performed for the case of a drought prone region in Western Australia. Results indicate …
When Environmentalists Collide: Understanding Conflicting Views And Values Of Environmentalists To Wind Energy, Brad Jessup
When Environmentalists Collide: Understanding Conflicting Views And Values Of Environmentalists To Wind Energy, Brad Jessup
Brad Jessup
No abstract provided.
Legislating The Highway Act Of 1956: Lessons For Climate Change Regulation, Roel Hammerschlag
Legislating The Highway Act Of 1956: Lessons For Climate Change Regulation, Roel Hammerschlag
Roel Hammerschlag
In the United States, greenhouse gas regulation can produce a revenue stream of approximately 0.5 % of gross domestic product, through emissions taxes or auctions of emission allowances. Many advocates of climate change regulation envision a federally-coordinated, research & development megaproject to develop greenhouse gas-free energy technologies; the funding for such a project would likely be drawn from the regulatory revenues. In contemporary American history, there is only one other example of a similarly-sized, federal megaproject funded by a tax schema, which is the Interstate System funded by the Federal-Aid Highway Act of 1956. A structured review of the political …