000103591 001__ 103591
000103591 005__ 20250221175305.0
000103591 0247_ $$2doi$$a10.22004/ag.econ.103591
000103591 037__ $$a321-2016-10918
000103591 041__ $$aeng
000103591 245__ $$aMulti-Market Trading for Cooperative Resource Management: An Application to Water Pollution and Fisheries
000103591 260__ $$c2011
000103591 269__ $$a2011
000103591 300__ $$a18
000103591 336__ $$aConference Paper/ Presentation
000103591 490__ $$aSelected Paper
000103591 490__ $$a13652
000103591 520__ $$aIncreasingly, environmental problems are recognized to involve linkages across multiple environmental variables (e.g., pollution and a fishery).  Prior work on managing these complex, linked systems generally focuses on efficiency rather than implementation.  However, implementation is important and will generally involve changing human behaviors within the multiple economic sectors that impact upon the multiple environmental variables.  Tradable permit markets are generally seen as a coordinating mechanism, within a particular regulated sector, that enhances efficiency by incentivizing agents to respond to behavioral choices of others within the sector.  However, prior work stops short of coordinating behaviors across multiple sectors for cases where society benefits from regulation in both sectors and one sector harms the other.  We analyze a multi-sector permit market involving both the externality-generating sector and the affected sector.  This multi-sector market provides a mechanism for agents in one sector to respond to environmental behaviors made within the other sector.  Moreover, unlike traditional permit markets in which the regulated externality sector incurs only costs, we show that the multi-sector market generates efficiency gains that may be redistributed using appropriate allocations of initial endowments.  Accordingly, the multi-sector market may generate gains that benefit both sectors, resulting in a win-win outcome for both sectors.  We use a simple example of a polluted fishery to illustrate the approach.
000103591 546__ $$aEnglish
000103591 650__ $$aEnvironmental Economics and Policy
000103591 650__ $$aResource/Energy Economics and Policy
000103591 6531_ $$aPermit trading
000103591 6531_ $$afisheries
000103591 6531_ $$apollution
000103591 6531_ $$aShapley values
000103591 6531_ $$abioeconomics
000103591 700__ $$aHoran, Richard D.
000103591 700__ $$aShortle, James S.
000103591 8564_ $$924391396-e60e-40c0-ab57-ef7b82abd90d$$s91162$$uhttps://ageconsearch.umn.edu/record/103591/files/Horan%20and%20Shortle%20AAEA%202011.pdf
000103591 887__ $$ahttp://purl.umn.edu/103591
000103591 909CO $$ooai:ageconsearch.umn.edu:103591$$pGLOBAL_SET
000103591 912__ $$nSubmitted by Richard Horan (horan@msu.edu) on 2011-05-02T21:41:56Z
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  Previous issue date: 2011
000103591 913__ $$aLicense granted by Richard Horan (horan@msu.edu) on 2011-05-02T21:19:22Z (GMT):

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000103591 980__ $$a321
000103591 982__ $$gAgricultural and Applied Economics Association>2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania