This paper analyzes the marginal willingness to pay for changes in noise levels related to changes in the volume of flight movements at a city airport in Stockholm, Sweden, by using a choice experiment. When estimating marginal willingness to pay for different times of the day and days of the week, we find that these vary with the temporal dimensions: mornings and evenings have higher marginal ...

We use variation in weather to study the long-term effects of activism during original Earth Day on attitudes, environmental outcomes, and children’s health. Unusually bad April 22, 1970 is associated with weaker support for environment 10 20 years later, particularly among those who were school aged 1970. Bad also higher levels carbon monoxide air greater risk congenital abnormalities infants ...

Beaucoup d’études économétriques évaluent l’impact du changement climatique sur l’agriculture en supposant les prix agricoles exogènes. Si variables climatiques influencent ces prix, il résulte un « biais de », dont on reconnaît l’existence mais qui n’a jamais été quantifié. Nous quantifions ce dans le cas Burkina Faso, avec panel 45 provinces et 14 années, pour trois céréales plus cultivées : ...

We examine how transmission congestion alters the environmental benefits provided by renewable generation. Using hourly data from Texas and midcontinent electricity markets, we find that relaxing constraints between wind-rich areas demand centers of respective markets conservatively increases nonmarket value wind 30 percent for 17 markets. Much this increase in arises a redistribution where air...

The social cost of carbon is the expected present value damages from emitting one ton today. We use perturbation theory to derive an approximate tractable expression for this adjusted climatic and economic risk. allow different aversion risk intertemporal fluctuations, skewness dynamics in distributions climate sensitivity damage ratio, correlated shocks. identify prudence, insurance, exposure ...

We analyze price adjustments in the housing market after an exogenous shock. Exploring continuous-time records of prices around a major European airport (ZRH, Switzerland), and an unexpected change in flight regulations induced by the neighboring country Germany, we find that apartment rents take about two years to stabilize to a new equilibrium value. After this period we find a constant marku...

This paper models a negative impact on the environment as one of the attributes of transport mode. By this modeling, we are able to examine whether individual environmental consciousness of this impact has a significant effect on his/her choice of transport mode. A survey data from Saito and Onohara Area in Northern Osaka of Japan is used to estimate the model with the Heteroscedastic Extreme V...

Researchers, using contingent valuation (CV) to value changes in nonmarket goods, typically believe respondents always answer questions truthfully or they answer truthfully only when it is in their interest to do so. The second position, while consistent with economic theory, implies that interpreting survey responses depends critically on the incentive structure provided. We derive simple test...

The United States Government recently developed a range of values representing the monetized global damages associated with an incremental increase in carbon dioxide (CO2) emissions, commonly referred to as the social cost of carbon (SCC). These values are currently used in benefit-cost analyses to assess potential federal regulations. For 2010, the central value of the SCC is $21 per ton of CO...

In this paper, we elaborate on an idea initially developed by Weitzman (1998) that justifies taking the lowest possible discount rate for far-distant future cash flows. His argument relies on the arbitrary assumption that when the future rate of return of capital (RRC) is uncertain, one should invest in any project with a positive expected net present value. We examine an economy with a risk-av...