Drawing on recent results in the industrial organization literature (Carvajal et al. 2013), we derive non-parametric tests of the tragedy of the commons. Our approach allows group output to be any arbitrarily concave, differentiable function of total inputs and for individual exploiters of the resource to have any arbitrary convex, differentiable cost of supplying inputs. We show that observed ...

Recreation is one of the ecosystem’s secondary values of a well conserved natural ecosystem, associated with the direct use individuals make of these natural assets. In this paper we define and estimate the total economic recreation value to visitors of a particular natural area, a national park. An on-site individual observation Travel Cost Model, Count Data distributions, and a version of hyp...

Rate-based emissions policies (like tradable performance standards, TPS) fix average emissions intensity, while cap-and-trade (CAT) policies fix total emissions. This paper shows that unfettered trade between rate-based and cap-and-trade programs always raises combined emissions, except when product markets are related in particular ways. Gains from trade are fully passed on to consumers in the...

The purpose of the paper is to test empirically the existence of an environmental Kuznets Ž . curve EKC , using switching regime models along with cross-sectional data and Bayesian Markov chain Monte Carlo methods to perform the computations. The models are based on the normal and Student’s t distributions. These methods allow us to present exact, finitesample posterior distributions of switchi...

We construct a model of participation and bidding at multi-unit, sequential, ascending-price auctions when bidders can potentially have multi-unit demand. We then describe conditions sufficient to characterize a strategic equilibrium of the auction game. Subsequently, we demonstrate that this equilibrium induces an efficient allocation and then propose an algorithm to calculate the expected win...

This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups played the same game but with no information about the payoff function. It will be shown that the patterns of investment decisions in both treatments are re...

The Journal of Economic Literature codes classification system (JEL) published by the American Association (AEA) is de facto standard for research literature in economics. JEL used to classify articles, dissertations, books, book reviews, and working papers EconLit, a database maintained AEA. Over time, it has evolved extended with over 850 subclasses. This paper reviews history development sys...