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Optimal fisheries management and the response to price changes 最佳渔业管理和对价格变化的反应
IF 2.6 3区 经济学
Resource and Energy Economics Pub Date : 2024-09-19 DOI: 10.1016/j.reseneeco.2024.101461
{"title":"Optimal fisheries management and the response to price changes","authors":"","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":null,"pages":null},"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}
引用次数: 0
Learning and uncertainty in spatial resource management 空间资源管理中的学习与不确定性
IF 2.6 3区 经济学
Resource and Energy Economics Pub Date : 2024-06-01 DOI: 10.1016/j.reseneeco.2024.101449
Kwabena Bediako , Bruno Nkuiya
{"title":"Learning and uncertainty in spatial resource management","authors":"Kwabena Bediako ,&nbsp;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":null,"pages":null},"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}
引用次数: 0
International emissions trading and the distribution of capital 国际排放贸易与资本分配
IF 2.6 3区 经济学
Resource and Energy Economics Pub Date : 2024-06-01 DOI: 10.1016/j.reseneeco.2024.101450
Yu-Bong Lai
{"title":"International emissions trading and the distribution of capital","authors":"Yu-Bong Lai","doi":"10.1016/j.reseneeco.2024.101450","DOIUrl":"https://doi.org/10.1016/j.reseneeco.2024.101450","url":null,"abstract":"<div><p>This paper compares two regimes of tradable emission permits, a regime with international permit trade (IPT) and a regime with domestic permit trade (DPT). We focus on the effects of the distribution of firms between countries. Our model combines intra-industry trade with a monopolistically competitive industry. We find that a more equal distribution of firms between countries results in higher global pollution under the DPT regime, while under the IPT regime the global pollution is invariant with the distribution of firms. We also find that international permit trade can either increase or reduce global pollution, depending on the distribution of firms.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141607693","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}
引用次数: 0
The intrinsic value of decision rights: Field evidence from electricity contract choice automation 决策权的内在价值:电力合同选择自动化的实地证据
IF 2.9 3区 经济学
Resource and Energy Economics Pub Date : 2024-04-04 DOI: 10.1016/j.reseneeco.2024.101440
Christoph Feldhaus , Jörg Lingens , Andreas Löschel , Gerald Zunker
{"title":"The intrinsic value of decision rights: Field evidence from electricity contract choice automation","authors":"Christoph Feldhaus ,&nbsp;Jörg Lingens ,&nbsp;Andreas Löschel ,&nbsp;Gerald Zunker","doi":"10.1016/j.reseneeco.2024.101440","DOIUrl":"https://doi.org/10.1016/j.reseneeco.2024.101440","url":null,"abstract":"<div><p>Previous laboratory evidence suggests that people tend to value their decision right beyond its instrumental value. We measure the intrinsic value of decision rights in the context of switching the electricity provider. We focus on customers of an online platform who can either choose a service that reminds them when they are allowed to switch their electricity contract or a service that automatically switches the contract on their behalf whenever possible. Our focus is on the intrinsic value of decision rights as a potential obstacle of this choice automation. Surprisingly, we find that customers who make use of the automation service assign significantly <em>higher</em> intrinsic value to their decision rights, compared to those who opted for the mere reminder. Hence, there appears to be a connection between having a high intrinsic value of decision rights and the level of interest in attributes of the automation service under consideration. The positive correlation suggests that the widespread positive intrinsic value of decision rights and the future adoption of similar automation services and devices do not necessarily contradict each other.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0928765524000162/pdfft?md5=24c7000813a727694d89d25c9147f7eb&pid=1-s2.0-S0928765524000162-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140644978","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}
引用次数: 0
Farm debt and the over-exploitation of natural capital 农业债务和自然资本的过度开发
IF 2.9 3区 经济学
Resource and Energy Economics Pub Date : 2024-03-24 DOI: 10.1016/j.reseneeco.2024.101439
Graeme Guthrie
{"title":"Farm debt and the over-exploitation of natural capital","authors":"Graeme Guthrie","doi":"10.1016/j.reseneeco.2024.101439","DOIUrl":"https://doi.org/10.1016/j.reseneeco.2024.101439","url":null,"abstract":"<div><p>This paper uses a stochastic optimal control model to show how standard loan contracts create incentives for farmers to focus on short-term financial performance at the expense of farms’ long-term natural capital. These incentives are a manifestation of the debt overhang problem. Extending this model shows how sustainability-linked loans can be used to weaken these incentives in a way that potentially benefits farmers and their bankers. The magnitude of the economic benefits generated by these loans depends on farm characteristics. The paper investigates the optimal design of sustainability-linked loans.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2024-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140296819","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}
引用次数: 0
Rent formation and distortions due to quotas in biological production processes 生物生产过程中配额造成的租金形成和扭曲
IF 2.9 3区 经济学
Resource and Energy Economics Pub Date : 2024-03-16 DOI: 10.1016/j.reseneeco.2024.101438
Atle Oglend , Frank Asche , Hans-Martin Straume
{"title":"Rent formation and distortions due to quotas in biological production processes","authors":"Atle Oglend ,&nbsp;Frank Asche ,&nbsp;Hans-Martin Straume","doi":"10.1016/j.reseneeco.2024.101438","DOIUrl":"https://doi.org/10.1016/j.reseneeco.2024.101438","url":null,"abstract":"<div><p>Production licenses with use restrictions that limit output are commonly used to regulate biological production processes. Such regulations are vulnerable to rent formation and production distortions that can end up subsidizing harmful environmental behavior. This paper develops a partial equilibrium model for a biological production process and use the model to study the impact of production quotas in Norwegian salmon aquaculture. Results suggest substantial regulatory rents capitalized in license values. Production has intensified leading to excessive stocking of fish per license, a shorting of the production period, and smaller produced fish. Our findings provide important insights for quota policies in food production, especially for cases where quotas are motivated by harmful environmental effects.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2024-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0928765524000149/pdfft?md5=f8860f4bc5d5f8d6c06cba46d81a9de3&pid=1-s2.0-S0928765524000149-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140181022","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}
引用次数: 0
Feeling the heat? Analyzing climate change sentiment in Spain using Twitter data 感受高温?利用推特数据分析西班牙的气候变化情绪
IF 2.9 3区 经济学
Resource and Energy Economics Pub Date : 2024-03-08 DOI: 10.1016/j.reseneeco.2024.101437
Maria L. Loureiro , Maria Alló
{"title":"Feeling the heat? Analyzing climate change sentiment in Spain using Twitter data","authors":"Maria L. Loureiro ,&nbsp;Maria Alló","doi":"10.1016/j.reseneeco.2024.101437","DOIUrl":"10.1016/j.reseneeco.2024.101437","url":null,"abstract":"<div><p>To shed light on the recent debate about climate change in this post-pandemic scenario, we take advantage of a unique dataset that combines geo-tagged social media data from Twitter in Spain from 2017 to 2022. Twitter conversations have been analyzed with natural language processing techniques to obtain sentiment scores related to climate change. These were merged with additional relevant control variables, aiming to understand the role of the contributing factors on the evolution of the hedonic scores, including external temperatures, the occurrence of heat waves, and deaths related to climate. We find a strong negative effect of external temperatures on sentiment, aggravated by recent increases in the frequency of heat waves and deaths related to climate. Further, this negative sentiment is accentuated after experiencing the recent COVID-19.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2024-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140156537","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}
引用次数: 0
The political economy of financing climate policy — Evidence from the solar PV subsidy programs 气候政策融资的政治经济学--来自太阳能光伏补贴项目的证据
IF 2.9 3区 经济学
Resource and Energy Economics Pub Date : 2024-02-28 DOI: 10.1016/j.reseneeco.2024.101436
Olivier De Groote , Axel Gautier , Frank Verboven
{"title":"The political economy of financing climate policy — Evidence from the solar PV subsidy programs","authors":"Olivier De Groote ,&nbsp;Axel Gautier ,&nbsp;Frank Verboven","doi":"10.1016/j.reseneeco.2024.101436","DOIUrl":"https://doi.org/10.1016/j.reseneeco.2024.101436","url":null,"abstract":"<div><p>We analyze the political impact of a generous solar panel subsidization program. Subsidies far exceeded their social benefit and were partly financed by new taxes on adopters and by electricity surcharges for all consumers. We use local panel data from Belgium and find a decrease in votes for government parties in municipalities with high adoption rates. This shows that the voters’ punishment for a costly policy exceeded the potential reward by adopters who received generous subsidies. Further analysis indicates that punishment mainly comes from non-adopters, who change their vote towards anti-establishment parties.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2024-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139986937","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}
引用次数: 0
The distributional effects of CO2 pricing at home and at the border on German income groups 国内和边境二氧化碳定价对德国收入群体的分配影响
IF 2.9 3区 经济学
Resource and Energy Economics Pub Date : 2024-02-13 DOI: 10.1016/j.reseneeco.2024.101435
Michael Hübler , Malin Wiese , Marius Braun , Johannes Damster
{"title":"The distributional effects of CO2 pricing at home and at the border on German income groups","authors":"Michael Hübler ,&nbsp;Malin Wiese ,&nbsp;Marius Braun ,&nbsp;Johannes Damster","doi":"10.1016/j.reseneeco.2024.101435","DOIUrl":"10.1016/j.reseneeco.2024.101435","url":null,"abstract":"<div><p>While climate policy studies are widespread, fully fledged computable general equilibrium (CGE) model analyses of distributional policy effects are challenging because the required data and approaches are not directly available. To ease such distributional analyses, we provide a step-by-step “recipe” for disaggregating a country-specific representative consumer of a CGE model. Using this “recipe”, we implement German household survey data in a global CGE model by distinguishing three income groups of the German representative consumer. We find that the negative consumption effect of CO<span><math><msub><mrow></mrow><mrow><mn>2</mn></mrow></msub></math></span> pricing is highest for the low-income group, whereas the negative income effect is highest for the high-income group and exceeds the consumption effect. The low-income group benefits most from (per capita-based redistribution of) carbon pricing revenues and receives social transfers such that poor households can be better off with such climate policies than without them. CO<span><math><msub><mrow></mrow><mrow><mn>2</mn></mrow></msub></math></span> pricing of imports at the (EU) border slightly strengthens these distributional effects and is mainly beneficial for the low-income group. The geographic extension of emissions trading within a “climate club” leads to substantial efficiency gains that are beneficial for Germany and the EU.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0928765524000113/pdfft?md5=0507c63903c313654d538e3f4aae24f5&pid=1-s2.0-S0928765524000113-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139815530","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}
引用次数: 0
Domestic versus international emissions trading with capital mobility 具有资本流动性的国内与国际排放贸易
IF 2.9 3区 经济学
Resource and Energy Economics Pub Date : 2024-02-01 DOI: 10.1016/j.reseneeco.2024.101433
Haitao Cheng
{"title":"Domestic versus international emissions trading with capital mobility","authors":"Haitao Cheng","doi":"10.1016/j.reseneeco.2024.101433","DOIUrl":"10.1016/j.reseneeco.2024.101433","url":null,"abstract":"<div><p>We employ the footloose capital model to examine and compare how two countries decide on their emission permits non-cooperatively under domestic and international emissions trading in the presence of capital mobility. We find that even if two countries are symmetric and have the same carbon prices under domestic emissions trading, they can benefit from international emissions trading. This finding holds regardless of capital mobility. We also find that allowing footloose capital increases each country’s and global emissions under domestic emissions trading; however, it does not affect emissions under international emissions trading. Additionally, we show that the cooperative choices of emission permits are the same regardless of international mobility of emission permits and capital and are always lower than the non-cooperative ones.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0928765524000095/pdfft?md5=1c341b18aa44253284cb27e5cc917433&pid=1-s2.0-S0928765524000095-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139677351","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}
引用次数: 0
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