If the measurement of production in a commons is accurate and precise, it is possible to design a tradable permit program such that, under a fairly general set of conditions, the market equilibrium is efficient for the given aggregate permit level and everyone is better off after the permit program than before. Often, however, implementation of a tradable permit system is postponed or never und...

A waste-to-energy firm that recycles organic waste with energy recovery performs two environmentally beneficial functions: it diverts waste from landfill, and it produces renewable energy. At the same time, the waste-to-energy firm serves and collects revenue from two types of customers: waste generators who pay for waste disposal service, and electricity consumers who buy energy. Given the pro...

This paper deals with second-best pollution taxation by investigating allocations instead of the corresponding tax rates. Assuming certain restrictions on utility and that the marginal revenue from environmental taxation is positive, it is shown that environmental quality is higher in second best where only distortionary taxes are used to finance public expenditures than in the first-best optim...

Let {(Xi; Yi): i= : : : ;−1; 0; 1; : : :} be a doubly in nite renewal-reward process, where {Xi: i= : : :− 1; 0; 1; : : :} is an i.i.d. sequence of renewal cycle lengths and Yi= g(Xi−q; Xi−q+1; : : : ; Xi) is the lump reward earned at the end of the ith renewal cycle, with some function g :R q+1 → R . Starting with the rst renewal cycle (of duration X1) at the time origin, let C(t) denote the e...

We thank Jim Brander, Al Dexter and Alan Kraus for helpful comments. We are also indebted to the Departmental Editor, an Associate Editor, and two referees for their detailed and insightful suggestions. There are many situations where policy-makers would like to induce firms to make a major discrete conversion in production technology to help the environment. This paper examines how heterogenei...

This work addresses the issue of better considering the heterogeneity of precipitation fields within lumped rainfall-runoff models where only areal mean precipitation is usually used as an input. A method using a Kohonen neural network is proposed for the clustering of precipitation fields. The evaluation and improvement of the performance of a lumped rainfall-runoff model for one-day ahead pre...

Windkessel and similar lumped models are often used to represent blood flow and pressure in systemic arteries. The windkessel model was originally developed by Stephen Hales (1733) and Otto Frank (1899) who used it to describe blood flow in the heart. In this paper we start with the onedimensional axisymmetric Navier-Stokes equations for time-dependent blood flow in a rigid vessel to derive lum...

Lumped and transfer rate constants in ischemic brain tissue must be measured to estimate accurately cerebral glucose utilization by the deoxyglucose method. We studied the bilateral middle cerebral artery occlusion model in 17 cats, 5 with a 1-hour occlusion, 5 with a 4-hour occlusion, and 7 with a sham operation. The time course of cerebral tissue radioactivity (Ci*(t)) was monitored by extern...

Lumped Parameter Model is well known in solving high frequency signal propagation in high voltage transformer windings. At Southampton University, the modelling technique has been improvised and employed to solve partial discharge (PD) problem occurred within deep inside transformer windings. Firstly, a lumped capacitive parameter model was considered and secondly a transmission line lumped par...

In this paper, we study a firm’s optimal lobbying behavior and its effect on investment in pollution abatement capital. We develop a dynamic framework where a representative firm can invest in both abatement and lobby capital in response to a possible future increase in pollution tax. We show that when the firm lobbys against the scale of the tax increase at a determined date, it should act lik...