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Articles 1 - 6 of 6
Full-Text Articles in Industrial Organization
Drilling In The Drought: The Industrial Organization Of Groundwater, Ujjayant N. Chakravorty, E. Somanathan
Drilling In The Drought: The Industrial Organization Of Groundwater, Ujjayant N. Chakravorty, E. Somanathan
Ujjayant Chakravorty
China and India together produce about half the world's rice and a third of the world's wheat, but production in both countries is heavily dependent on depleting groundwater resources. A large proportion of farmers buy and sell groundwater - the trading facilitated by small farm sizes and fragments land holdings. The economics of groundwater, when farm sizes are small, is little understood. This paper develops a simple, spatial model of the industrial organization of groundwater markets appropriate for smallholder agriculture. We show that if water is abundant, then equilibrium with free entry results in Bertrand competition, with water sellers charging …
Market Structure And The Cost Of Compliance With Environmental Regulation, Stuart Mcdonald
Market Structure And The Cost Of Compliance With Environmental Regulation, Stuart Mcdonald
Stuart McDonald
This paper analyses the expected level of non-compliance with environmental standards within in an oligopolistic industry. The paper departs from the previous literature on environmental compliance by allowing for the possibility of product differentiation. In doing this, the paper provides results quantifying the important role that strategic complements and substitutes have in determining both the relative degree of non-compliance and level of fines required to achieve both partial and universal compliance with environmental standards. The paper shows that under Bertrand competition it is relatively more difficult to achieve compliance with environmental standards than under Cournot competition, requiring larger fines to …
Optimal Environmental Taxation With Pre-Commitment And Green R&D, Stuart Mcdonald
Optimal Environmental Taxation With Pre-Commitment And Green R&D, Stuart Mcdonald
Stuart McDonald
Two approaches for modelling investment in R\&D have been developed by d'Aspremont and Jacquemin (AJ, 1988) and Kamien, Muller and Zang (KMZ, 1992), when there are spillovers associated with R\&D effort. This paper examines how these two approaches predict investment in green technology, when environmental policy takes the form of an optimal emission tax. The results show that the two models are equivalent when there are no R\&D spillovers; but when R\&D spillovers are present, significant differences in their predictions are observed. Specifically, the KMZ model predicts higher emission tax rates, higher level of R\&D expenditures and higher levels of …
Combining Multiple Climate Policy Instruments: How Not To Do It, Jisung Park
Combining Multiple Climate Policy Instruments: How Not To Do It, Jisung Park
Jisung Park
Putting a price on carbon is critical for climate change policy. Increasingly, policymakers combine multiple policy tools to achieve this, for example by complementing cap-and-trade schemes with a carbon tax, or with a feed-in tariff. Often, the motivation for doing so is to limit undesirable fluctuations in the carbon price, either from rising too high or falling too low. This paper reviews the implications for the carbon price of combining cap-and-trade with other policy instruments. We find that price intervention may not always have the desired effect. Simply adding a carbon tax to an existing cap-and-trade system reduces the carbon …
Information, Direct Access To Farmers, And Rural Market Performance In Central India, Aparajita Goyal
Information, Direct Access To Farmers, And Rural Market Performance In Central India, Aparajita Goyal
Aparajita Goyal
This paper estimates the impact of a change in procurement strategy of a private buyer in the central Indian state of Madhya Pradesh. Beginning in October 2000, Internet kiosks and warehouses were established that provide wholesale price information and an alternative marketing channel to soy farmers in the state. Using a new market-level dataset, the estimates suggest a significant increase in soy price after the introduction of kiosks, supporting the predictions of the theoretical model. Moreover, there is a robust increase in area under soy cultivation. The results point toward an improvement in the functioning of rural agricultural markets. (JEL …
Mitigation And The Geoengineering Threat, Juan B. Moreno-Cruz
Mitigation And The Geoengineering Threat, Juan B. Moreno-Cruz
Juan B. Moreno-Cruz
Recent scientific advances have introduced the possibility of engineering the climate system to lower ambient temperatures without lowering greenhouse gas concentrations. This possibility has created an intense debate given the ethical, moral and scientific questions it raises. In this paper I examine the economic issues introduced when geoengineering becomes available in a standard two-period two-country model where strategic interaction leads to suboptimal mitigation. Geoengineering introduces the possibility of technical substitution away from mitigation, but it also affects the strategic interaction across countries: mitigation decisions made in the first period directly affect the geoengineering decisions made in the second period. With …