Agricultural and Resource Economics Review Featured Article

 

February 2019

 

Abstract: We use a random utility model for birding destination choices based on the reports of Oregon and Washington State members of the Cornell University Laboratory of Ornithology eBird citizen science project. We estimate spatially differentiated welfare effects that birders may experience as a consequence of forecasted changes in land cover and climate. We predict per-trip welfare effects (equivalent variations) expected under a business-as-usual scenario using published forecasts for both land cover and species richness. We find significant county-level heterogeneity across eBirders in predicted average per-trip welfare effects. The results suggest discernible distributional consequences across active birders in different areas. Link to paper

 

January 2019

 

Abstract: Environmental economics has made it possible to estimate prices for air pollution externalities. However, these values are rarely observed in emissions trading markets. Moreover, market outcomes show prices persistently remain below expectations and frequently fall over time. Low allowance prices may appear virtuous, but often reflect poor market design that does not anticipate interaction with other policies, and may undermine confidence in market-based approaches to environmental policy. This paper surveys emissions markets and factors influencing prices, and concludes with a discussion of how market design can anticipate and remedy the strong tendency for low prices. Link to paper

 

 

December 2018

 

Abstract: Although most global forest economic studies have found that warming is likely to increase forest supply, these studies have examined only the limited warming expected through 2100. This study extends the analysis out to 2250 to test much higher levels of warming to examine very long term effects. Future warming is predicted to steadily increase forest productivity, with global timber supply predicted to increase through 2250, even with warming up to 11 °C warming. However, natural forestland and biomass will shrink. This result suggests far future forests will not be able to hold the same stock of carbon they hold today. Link to paper

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