nep-env New Economics Papers
on Environmental Economics
Issue of 2008‒05‒17
23 papers chosen by
Francisco S.Ramos
Federal University of Pernambuco

  1. The EU Emissions Trading Scheme : Disentangling the Effects of Industrial Production and CO2 Emissions on Carbon Prices By Emilie Alberola; Benoît Chèze; Julien Chevallier
  2. Does Trade Liberalization Reduce Pollution Emissions? By MANAGI Shunsuke; HIBIKI Akira; TSURUMI Tetsuya
  3. Steering the European transport greenhouse gas emissions under uncertainty By Mandell, Svante
  5. Models in evolutionary economics and environmental policy: Towards and evolutionary environmental economics By Albert Faber; Koen Frenken
  6. Using ex post data to estimate the hurdle rate of abatement investments - an application to sulfur emissions from the Swedish pulp and paper industry and energy sector. By Åsa Löfgren; Katrin Millock; Céline Nauges
  7. Non-Economic Engagement and International Exchange: The Case of Environmental Treaties By Andrew K. Rose; Mark M. Spiegel
  8. Indexed Regulation By Richard G. Newell; William A. Pizer
  9. Corporate Social Responsibility Through an Economic Lens By Forest L. Reinhardt; Robert N. Stavins; Richard H. K. Vietor
  10. Analysis of U.S. Greenhouse Gas Tax Proposals By Gilbert E. Metcalf; Sergey Paltsev; John Reilly; Henry Jacoby; Jennifer F. Holak
  11. A Regression on Climate Policy - The European Commission's Proposal to Reduce CO2 Emissions from Transport By Manuel Frondel; Christoph M. Schmidt; Colin Vance
  12. Equity Considerations and Payments for Ecosystem Services By Wendy Proctor; Thomas Köllner; Anna Lukasiewicz
  13. Informing Efficient and Effective Solid Waste Management to Improve Local Environmental Quality and Public Health: Application of the Choice Experiment Method in West Bengal, India By Sukanya Das; Ekin Birol; ARabindra N. Bhattacharya
  14. Ecological thought and concern for social inequalities: indifference, opposition or convergence? By Edwin Zaccaï
  15. Nutrient Trading in Lake Rotorua: Social, Cultural, Economic and Environmental Issues in a Nutrient Trading System By Kelly Lock; Suzi Kerr
  17. Facteur 4 et mobilité des personnes et des marchandises By Hector G. Lopez-Ruiz
  18. Estimation of a social and environmental accounting matrix By Carmen Rodríguez Morilla; M.Alejandro Cardenete; Gaspar J. LLanes Díaz Salazar
  19. Hartwick's rule and maximin paths when the exhaustible resource has an amenity value. By Antoine d'Autume; Katheline Schubert
  20. Socio-metabolic Transitions in Developing Asia By Heinz Schandl; Marina Fischer-Kowalski; Clemens Grunbuhel; Fridolin Krausmann
  21. Informational Benefits of International Environmental Agreements By Amihai Glazer; Vesa Kanniainen; Panu Poutvaara
  22. Stochastic Dominance, Entropy and Biodiversity Management By Catherine M. Chambers; Paul E. Chambers; John R. Crooker; John C. Whitehead
  23. Localización del Esfuerzo de Pesca en la Pesquería Chileno-Transzonal del Jurel (Trachurus murphyi) By Julio Peña Torres; Mabyr Valderrama

  1. By: Emilie Alberola; Benoît Chèze; Julien Chevallier
    Abstract: This article critically examines the impact of industrial production for sectors covered by the EU Emissions Trading Scheme (EU ETS) on emissions allowance spot prices during Phase I (2005-2007). Using sector production indices and CO2 emissions compliance positions dened by a ratio of allowance allocation relative to baseline emissions, we show that the effect of industrial activity on EU carbon price changes shall be analysed in conjunction with production peaks and compliance net short/long positions at the sector level. The results extend previous literature by showing that carbon price changes react not only to energy prices forecast errors and extreme temperatures events, but also to industrial production in three sectors covered by the EU ETS: combustion, paper and iron.
    Keywords: EU ETS, Emissions Trading, Carbon Pricing, CO2 Emissions, Industrial Production
    JEL: L11 L16 Q48 Q54
    Date: 2008
  2. By: MANAGI Shunsuke; HIBIKI Akira; TSURUMI Tetsuya
    Abstract: Literature on trade liberalization, economic development, and the environment is largely inconclusive about the environmental consequences of trade. This study treats trade and income as endogenous and estimates the overall impact of trade openness on environmental quality using the instrumental variables technique. Trade is found to benefit the environment using a globally representative sample. A 1% increase in trade openness causes a decrease of 0.344%, 0.754%, and 1.909% for SO2, CO2, and BOD emissions, respectively, in the long term. Our results also show composition and scale-technique effects contribute differently to the overall effect in the short and long term.
    Date: 2008–05
  3. By: Mandell, Svante (Swedish National Road & Transport Research Institute (VTI))
    Abstract: This paper addresses how to regulate greenhouse gas emissions from the transport sector when abatement costs are uncertain. In an EU context, it is shown that a combination of a cap-and-trade system and emission taxes is preferable as it minimizes the expected efficiency loss. The optimal design will depend on the relative cost structure within and outside the transport sector. It is argued that the optimal regime for the transport sector has similarities, but is not identical to, a pure emissions tax.
    Keywords: Transport; policy; climate change; tradable permits
    JEL: Q54 Q58
    Date: 2008–05–06
  4. By: Al-Amin, Abul Quasem; Abdul Hamid , Jaafar; Chamhuri , Siwar
    Abstract: This study analyzes the macroeconomic effects of limiting carbon emissions using computable general equilibrium (CGE) model in the Malaysian economy. Doing so, we developed an environmental computable general equilibrium model and investigate carbon tax policy responses in the economy applying exogenously different degrees of carbon tax into the model. Three simulations were carried out using a Malaysian Social Accounting Matrix. The carbon tax policy illustrates that a 1.21% reduction of carbon emission reduces the nominal GDP by 0.82% and exports by 2.08%; a 2.34% reduction of carbon emission reduces the nominal GDP by 1.90% and exports by 3.97%and a 3.40% reduction of carbon emission reduces the nominal GDP by 3.17% and exports by 5.71%. Imposition of successively higher carbon tax results in increased government revenue from baseline by 26.67%, 53.07% and 79.28% respectively. However, fixed capital investment increased in scenario 1a (1st) by 0.43% but decreased in scenarios 1b (2nd) and 1c (3rd) by 0.26% and 1.79% respectively from the baseline. According to our findings policy-makes should consider initial (1st) carbon tax policy. This policy results in achieving reasonably good environmental impacts without losing the investment, fixed capital investment, investment share of nominal GDP and government revenue.
    Keywords: Emission; Environmental General Equilibrium; Malaysian Economy
    JEL: C68 Q56 B22
    Date: 2008–05–12
  5. By: Albert Faber; Koen Frenken
    Abstract: In this paper we review evolutionary economic modelling in relation to environmental policy. We discuss three areas in which evolutionary economic models have a particularly high added value for environmental policy-making: the double externality problem, technological transitions and consumer demand. We explore the possibilities to apply evolutionary economic models in environmental policy assessment, including the opportunities for making policy-making endogenous to environmental innovation. We end with a critical discussion of the challenges that remain.
    Date: 2008–04
  6. By: Åsa Löfgren (Göteborg University - Department of Economics); Katrin Millock (Centre d'Economie de la Sorbonne et Paris School of Economics); Céline Nauges (LERNA-INRA - Toulouse School of Economics)
    Abstract: We propose a method for estimating hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The econometric procedure is illustrated using a panel of firms from the Swedish pulp and paper industry, and the energy and heating sector from 2000 to 2003. The results indicate a hurdle rate of investment of 2.9 in the pulp and paper industry and 3.4 in the energy and heating sector.
    Keywords: Option value, fuel price uncertainty, investment decision, pollution abatement, panel data, pulp and paper industry, energy and heating sector.
    JEL: C33 D81 O33 Q48 Q53
    Date: 2008–03
  7. By: Andrew K. Rose; Mark M. Spiegel
    Abstract: We examine the role of non-economic partnerships in promoting international economic exchange. Since far-sighted countries are more willing to join costly international partnerships such as environmental treaties, environmental engagement tends to encourage international lending. Countries with such non-economic partnerships also find it easier to engage in economic exchanges since they face the possibility that debt default might also spill over to hinder their non-economic relationships. We present a theoretical model of these ideas, and then verify their empirical importance using a bilateral cross-section of data on international cross-holdings of assets and environmental treaties. Our results support the notion that international environmental cooperation facilitates economic exchange.
    JEL: F10 F34
    Date: 2008–05
  8. By: Richard G. Newell; William A. Pizer
    Abstract: Seminal work by Weitzman (1974) revealed prices are preferred to quantities when marginal benefits are relatively flat compared to marginal costs. We extend this comparison to indexed policies, where quantities are proportional to an index, such as output. We find that policy preferences hinge on additional parameters describing the first and second moments of the index and the ex post optimal quantity level. When the ratio of these variables' coefficients of variation divided by their correlation is less than approximately two, indexed quantities are preferred to fixed quantities. A slightly more complex condition determines when indexed quantities are preferred to prices. Applied to climate change policy, we find that the range of variation and correlation in country-level carbon dioxide emissions and GDP suggests the ranking of an emissions intensity cap (indexed to GDP) compared to a fixed emission cap is not uniform across countries; neither policy clearly dominates the other.
    JEL: C68 D81 H41 Q54 Q58
    Date: 2008–05
  9. By: Forest L. Reinhardt; Robert N. Stavins; Richard H. K. Vietor
    Abstract: Business leaders, government officials, and academics are focusing considerable attention on the concept of "corporate social responsibility" (CSR), particularly in the realm of environmental protection. Beyond complete compliance with environmental regulations, do firms have additional moral or social responsibilities to commit resources to environmental protection? How should we think about the notion of firms sacrificing profits in the social interest? May they do so within the scope of their fiduciary responsibilities to their shareholders? Can they do so on a sustainable basis, or will the forces of a competitive marketplace render such efforts and their impacts transient at best? Do firms, in fact, frequently or at least sometimes behave this way, reducing their earnings by voluntarily engaging in environmental stewardship? And finally, should firms carry out such profit-sacrificing activities (i.e., is this an efficient use of social resources)? We address these questions through the lens of economics, including insights from legal analysis and business scholarship.
    JEL: L51 M14 Q50
    Date: 2008–05
  10. By: Gilbert E. Metcalf; Sergey Paltsev; John Reilly; Henry Jacoby; Jennifer F. Holak
    Abstract: The U.S. Congress is considering a set of bills designed to limit the nation's greenhouse gas (GHG) emissions. This paper complements the analysis by Paltsev et al. (2007) of cap-and-trade bills and applies the MIT Emissions Prediction and Policy Analysis (EPPA) model to carry out an analysis of the tax proposals. Several lessons emerge from this analysis. First, a low starting tax rate combined with a low rate of growth in the tax rate will not reduce emissions significantly. Second, the costs of GHG reductions are reduced with the inclusion of non-CO2 gases in the carbon tax scheme. Third, welfare costs of the policies can be affected by the rate of growth of the tax, even after controlling for cumulative emissions. Fourth, a carbon tax -- like any form of carbon pricing -- is regressive. However, general equilibrium considerations suggest that the short-run measured regressivity may be overstated. Additionally, the regressivity can be offset with a carefully designed rebate of some or all of the revenue. Finally, the carbon tax bills that have been proposed or submitted are for the most part comparable to many of the carbon cap-and-trade proposals that have been suggested. Thus the choice between a carbon tax and cap-and-trade system can be made on the basis of considerations other than their effectiveness at reducing emissions over some control period.
    JEL: H23 Q54
    Date: 2008–05
  11. By: Manuel Frondel; Christoph M. Schmidt; Colin Vance
    Abstract: As part of its efforts to reach the targets of the Kyoto Protocol, the European Commission is currently considering a new directive to reduce the per-kilometer CO2 emissions of newly registered automobiles. This paper critically assesses this proposal with respect to its economic and technological underpinnings. We argue that the proposal’s reliance on targets based on per-kilometer emissions not only conceals the true costs of compliance and thereby stifles informed public discourse, but is also less cost-effective than alternative measures such as emissions trading.We further examine the proposal’s underlying assumptions, finding that these misrepresent the current state of automotive technology and therefore may overestimate the feasibility of achieving the suggested emissions targets. Alternative targets are consequently proposed that are argued to more accurately reflect the industry's technological evolution to date.
    Keywords: Technological progress, private automobiles, efficiency standards
    JEL: L98 Y10
    Date: 2008–04
  12. By: Wendy Proctor (Policy and Economic Research Unit, CSIRO, Canberra, Australia); Thomas Köllner; Anna Lukasiewicz
    Abstract: Payments for Ecosystem Services (PES) schemes are now increasingly being adopted as a solution to environmental conservation problems in many countries throughout the world. Examples of these market based instruments are tradable pollution permits or certificates for ecosystem services. However, equity outcomes have rarely been considered in the implementation of such instruments. Neo-classical economic analysis does not explicitly take such equity considerations into account with efficiency concerns being the overriding goal. Increasingly this is being seen as inadequate to meet sustainability objectives and there is evidence to suggest that the adherence to an equitable framework for such schemes may determine whether or not stakeholders will participate in these markets. In this paper we develop a framework for consideration of equity in PES schemes. First the background and historical beginnings of these instruments are provided. A review of some existing schemes, particularly those that have tried to address income equity (pro-poor schemes), is presented and raises important issues related to efficiency versus equity concerns A framework is then provided to allow for the consideration of equity and fairness in such schemes designed to protect and enhance ecosystem services. Here a methodology for measuring equity, fairness and justice issues in PES and market based instrument schemes is developed on a case by case basis.
    Keywords: Payment for Ecosystem Services, poverty, equity
    Date: 2008
  13. By: Sukanya Das (Jadavpur University, Kolkata, India); Ekin Birol (Markets, Trade, and Institutions Division; International Food Policy Research Institute 2033 K St, NW; Washington, DC 20006, USA); ARabindra N. Bhattacharya (Centre for Studies in Social Sciences, Kolkata, India)
    Abstract: In this paper we employ the choice experiment method to estimate residents’ willingness to pay (WTP) for improvements in the solid waste management (SWM) services provided in Chandernagore and South Dum Dum municipalities of Greater Kolkata in West Bengal, India. 101 randomly selected residents took part in a choice experiment survey. Data are analysed with conditional logit, random parameter logit and random parameter logit with interactions models. The best fitting random parameter logit with interactions model reveal that there is significant conditional and unconditional heterogeneity in residents’ preferences for improvements in SWM services. The results reveal that on average residents of these municipalities are WTP significant amounts, in terms of higher monthly municipality taxes, to increase the frequency of waste collection, and to ensure that the waste is collected by covered trucks. Differences in WTP values across residents, however, should be taken into consideration to ensure social equity. The results reported in this paper have important policy implications for informing efficient, effective and equitable SWM services aimed at reducing local environmental pollution and the consequent public health risks.
    Keywords: Municipal solid waste management, choice experiment, conditional logit model, random parameter logit model, interactions, preference heterogeneity, India
    Date: 2008
  14. By: Edwin Zaccaï (Université Libre de Bruxelles, IGEAT)
    Abstract: This paper is an attempt to assess key relations between ecological thought and concern for social inequalities. Building on the fact that these relations may be controversial, the analysis will proceed as a fictional trial, introducing two opposite thesis, one after the other. In the first section, arguments that tend to see ecological thought as indifferent or detrimental to social equity are presented. The second part, after the prosecution, will conduct the case for the defence: arguments that sustain the idea that ecological objectives reinforce the search for a social equity will be outlined. In both parts, authors belonging to five different clusters of discourse are considered: deep ecology, environmentalism and sustainable development, ecological modernisation, risk and technology management, and finally radical criticism of development (including political ecology). While the situation differs within these different groups of discourses, it appears that the aims of environmental protection and social equity on the whole do not necessarily converge nor diverge, one of the reasons being their disconnected histories. We conclude with a plea and a few propositions towards increased convergence between ecology and social equity.
    Keywords: Equity, Justice, Distribution, Social inequalities, Ecology, Green Thought
    Date: 2008
  15. By: Kelly Lock (Motu Economic and Public Policy Research); Suzi Kerr (Motu Economic and Public Policy Research)
    Abstract: At any point in time, all communities face a number of cultural, social, economic and environmental challenges and opportunities. The Lake Rotorua catchment is no different. Water quality in the Rotorua lakes is one of the pressing issues in the catchment, but it is not the only problem residents are facing. A nutrient trading system is one method regulators are considering to control nutrient loss and improve water quality in Lake Rotorua. Such a system aims to achieve nutrient loss targets at the least cost. However, a nutrient trading system is likely to impact - and be impacted by - other issues in the region. This paper discusses how policy makers should account for wider impacts and factors impacted by a nutrient trading system, and discusses how these factors should or should not affect the design of the system. The paper gives examples of environmental, social, cultural and economic issues.
    Keywords: Water quality, nutrients, trading, Lake Rotorua
    JEL: Q53 Q57 Q58
    Date: 2008–04
  16. By: Sarah C. Brechbill; Wallace E. Tyner (Department of Agricultural Economics, College of Agriculture, Purdue University)
    Abstract: With cellulosic energy production from various forms of biomass becoming popular in renewable energy research, agricultural producers may be called upon to plant and harvest switchgrass or collect corn stover to supply such energy production to nearby facilities. Determining the entire production and transportation cost to the producer of switchgrass or corn stover and the amount available within a given distance of the plant will result in a per ton cost the plant will need to pay producers in order to be supplied with sufficient quantities of biomass. This research computes up-to-date biomass production costs using recent prices for all important cost components including seed, fertilizer and herbicide application, mowing/shredding, raking, baling, storage, handling, and transportation. The cost estimates also include nutrient replacement for corn stover. The total per ton cost for either switchgrass or corn stover is a combination of these cost components depending on whether equipment is owned or custom hired, what baling options are used, the size of the farm, and the distance that biomass must be transported. Total per ton costs for transporting biomass 30 miles range between $39 and $46 for corn stover and $57 and $63 for switchgrass. Using the county quantity data and this cost information, we then estimated biomass supply curves for three Indiana coal-fired electric utility. This supply framework can be applied to plants of any size, location, and type. Finally, we estimated the greenhouse gas emissions reduction from using biomass instead of coal for part of the utility energy and also the carbon tax required to make the biomass cost equivalent to coal.
    Keywords: Cellulosic biomass, corn stover, switchgrass, biomass supply, GHG reduction
    JEL: Q12 Q42 Q54
    Date: 2008
  17. By: Hector G. Lopez-Ruiz (LET - Laboratoire d'économie des transports - CNRS : UMR5593 - Université Lumière - Lyon II - Ecole Nationale des Travaux Publics de l'Etat)
    Abstract: Afin de limiter les impacts du changement climatique sur la planète, les experts du GIEC préconisent une division par deux des émissions mondiales de gaz à effet de serre à l’horizon 2050. Cet objectif impose une division par quatre (i.e. facteur 4) des émissions de gaz à effet de serre des pays industrialisés comme la France. Le secteur des transports peut-il se plier à cette exigence ?<br />A l’aide du modèle TILT (Transport Issues in the Long Term), centré sur les relations macroéconomiques entre croissance économique, technologies, mobilité et émissions de C02, ce papier recherche les conditions à réunir pour que soit atteint, en France, le « facteur 4 ». Si les progrès techniques annoncés par les ingénieurs sont au rendez-vous, nous pouvons atteindre un facteur 2. L’autre moitié du chemin doit donc être réalisée par une modification des comportements des individus et des entreprises. Trois familles de scénarios sont proposées pour en illustrer le contenu de ces évolutions qui, pour certaines, constituent de véritables bouleversements.
    Keywords: Changement climatique; émission de CO2; facteur 4; transport; mobilité des personnes; mobilité des marchandises; backcasting
    Date: 2008–03
  18. By: Carmen Rodríguez Morilla (Universidad de Sevilla); M.Alejandro Cardenete (Universidad Pablo de Olavide); Gaspar J. LLanes Díaz Salazar (Universidad Pablo de Olavide)
    Abstract: En este trabajo presentamos una metodología para desarrollar un sistema de medición estadístico, económico y medioambiental, híbrido, ésto es, que integra los datos físicos de las estadísticas oficiales sobre recursos de agua y emisiones de gases a la atmósfera, con las estadísticas económicas que reflejan el flujo circular de la renta. Este sistema se aplica a la realidad española en el año 2000. A través de una ampliación de la lógica inherente a las tablas Input-Ouput y a la matriz de contabilidad social, obtenemos la matriz de contabilidad social medioambiental que incluye las cuentas ambientales (SAMEA). El interés de tener esta matriz de híbrida, con estadísticas económicas y ambientales integradas, es doble, tanto por su interés descriptivo como analítico.
    Keywords: marco input-output, matrices de contabilidad social, medioambiente, técnicas de actualización, metodología de entropía cruzada.
    JEL: C68 Q51 Q56 Q58
    Date: 2008
  19. By: Antoine d'Autume (Centre d'Economie de la Sorbonne et Paris School of Economics); Katheline Schubert (Centre d'Economie de la Sorbonne et Paris School of Economics)
    Abstract: This paper studies the maximin paths of the canonical Dasgupta-Heal-Solow model when the stock of natural capital is a direct argument of well-being, besides consumption. Hartwick's rule then appears as an efficient tool to characterize solutions in a variety of settings. We start with the case without technical progress. We obtain an explicit solution of the mmaximin problem in the case where production and utility are Cobb-Douglas. When the utility function is CES with a low elasticity of substitution between consumption and natural capital, we show taht it is optimal to preserve forever a critical level of natural capital, determined endogeneously. We then study how technical progress affects the optimal maximin paths, in the Cobb-Douglas utility case. On the long run path of the economy capital, production and consumption grow at a common constant rate, while the resource stock decreases at a constant rate and is therefore completely depleted in the very long run. A higher amenity value of the resource stock leads to faster economic growth, but to a lower long run rate of depletion. We then develop a complete analysis of the dynamics of the maximin problem when the sole source of well-being is consumption, and provide a numerical resoultion of the model with resource amenity. The economy consumes, produces and invests less in the short run if the resource has an amenity value than if doesn't whereas it is the contrary in the medium and long runs. However, and without surprise, the resource stock remains for ever higher with resource amenity than without.
    Keywords: Exhaustible resources, sustainability, Hartwick's rule.
    JEL: D9 Q01 Q3
    Date: 2008–04
  20. By: Heinz Schandl; Marina Fischer-Kowalski; Clemens Grunbuhel; Fridolin Krausmann (CSIRO Sustainable Ecosystems, Australia)
    Abstract: A possible sustainability transition in developing Asia needs to complement the ongoing transition from an agrarian to an industrial socio-ecological regime. As is known from other world regions, an agrarian-industrial transition involves a major increase in material and energy flows (corresponding to a 2-4 fold increase in the demand for raw materials and energy). The socio-metabolic profile of the South-East Asian region still shows relatively low material and energy consumption per capita, suggesting that major growth may follow. Infrastructures that are closely bound-up in bulk material flows (transport, energy and food sectors) will be critical to future developments. The paper illustrates the challenge and potential solutions from a number of case studies.
    Keywords: socio-ecological regime, metabolic profile, industrial transformation, developing Asia, sustainability transition
    JEL: Q01 Q56 N50 O11
    Date: 2008–05
  21. By: Amihai Glazer (Department of Economics, University of California-Irvine); Vesa Kanniainen (Department of Economics, University of Helsinki); Panu Poutvaara (Department of Economics, University of Helsinki)
    Abstract: This paper develops a theory of consumer boycotts. Some consumers care not only about the products they buy but also about whether the firm behaves ethically. Other consumers do not care about the behavior of the firm but yet may like to give the impression of being ethical consumers. Consequently, to affect a firm's ethical behavior, moral consumers refuse to buy from an unethical firm. Consumers who do not care about ethical behavior may join the boycott to (falsely) signal that they do care. In the firm's choice between ethical and unethical behavior, the optimality of mixed and pure strategies depends on the cost of behaving ethically. In particular, when the cost is (relatively) low, ethical behavior arises from a prisoners' dilemma as the firm's optimal strategy.
    Keywords: Firm's ethical code; Consumer morality; Boycotts
    JEL: M14 D43
    Date: 2008–05
  22. By: Catherine M. Chambers (University of Central Missouri); Paul E. Chambers (University of Central Missouri); John R. Crooker (University of Central Missouri); John C. Whitehead (Appalachian State University)
    Abstract: In this paper we develop a model of population dynamics using the Shannon entropy index, a measure of diversity that allows for global and specific population shocks. We model the effects of increasing the number of parcels on biodiversity, varying the number of spatially diverse parcels to capture risk diversification. We discuss the concepts of stochastic dominance as a means of project selection, in order to model biodiversity returns and risks. Using a Monte Carlo simulation we find that stochastic dominance may be a useful theoretical construct for project selections but it is unable to rank every case.
    Date: 2008–05
  23. By: Julio Peña Torres (ILADES-Georgetown University, Universidad Alberto Hurtado); Mabyr Valderrama (ILADES-Georgetown University)
    Abstract: Este trabajo analiza condicionantes de la localización del esfuerzo pesquero de la flota chilena que opera en la pesquería transzonal del Jurel, considerando datos por viaje para el periodo 1987-2004. Desde principios de los años 1990s esta flota comenzó a desplazarse más allá de las 200 mn, condicionada por cambios en la distribución espacial de este recurso. Se presume que esta dinámica de cambio podría haberse intensificado por la ocurrencia del fuerte fenómeno El Niño de los años 1997-98. El retorno a esta pesquería de flotas de naciones distantes, a partir del año 2000, ha incrementado el interés por entender efectos relacionados con esta dinámica de cambio espacial. Este trabajo analiza econométricamente el efecto de factores ambientales, regulatorios, tecnológicos y económicos sobre las decisiones de operación espacial de la flota chilena que opera en esta pesquería. Dada la extensión temporal de los datos disponibles, se testea la posible influencia del fenómeno ambiental El Niño sobre la operatoria espacial de la flota analizada.
    Keywords: Econometría espacial; Modelos de localización del esfuerzo de pesca; Pesquería pelágica transzonal del jurel; Fenómeno ambiental El Niño; Cuotas individuales de pesca
    JEL: Q22 C23 C25
    Date: 2008–05

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