A new meta-analysis on the WTP/WTA disparity

This study reports a new meta-analysis of papers that elicit willingness-to-pay (WTP) and willingness-to-accept compensation (WTA) measures of value for the same good. We investigate the effects of type of good and several survey-design features on the WTP/WTA disparity, measured as the logarithm of the ratio of mean WTA to mean WTP. Confirming Horowitz and McConnell?s (2002) pioneering meta-analysis, we find the disparity is smaller for ordinary private goods than for public and non-market goods, that it is not solely an artifact of using hypothetical transactions or other weak experimental or survey methods, and that it is smaller for studies using student subjects. In addition, we find that the disparity is smaller when subjects have experience valuing the good in real markets or through repeated experimental trials. In contrast to Horowitz and McConnell, we find the disparity is significantly smaller in studies using incentive-compatible elicitation mechanisms. The disparity is smaller in more recent studies, an effect that is attributable only in part to changes in study characteristics.     

The value of information for integrated assessment models of climate change

We estimate the value of information (VOI) for three key parameters of climate integrated assessment models (IAMs): marginal damages at low temperature anomalies, marginal damages at high temperature anomalies, and equilibrium climate sensitivity. Most empirical studies of climate damages have examined temperature anomalies up to 3 °C, while some recent theoretical studies emphasize the risks of “climate catastrophes,” which depend on climate sensitivity and on marginal damages at higher temperature anomalies. We use a new IAM to estimate the VOI for each parameter over a range of assumed levels of study precision based on prior probability distributions calibrated using results from previous studies. We measure the VOI as the maximum fixed fraction of consumption that a social planner would be willing to pay to conduct a new study before setting a carbon tax. Our central results suggest that the VOI is greatest for marginal damages at high temperature anomalies.     

Price controls and banking in emissions trading: An experimental evaluation

We present results from laboratory emissions markets designed to investigate the effects of price controls and permit banking on limiting permit price risk. While both instruments reduce between-period price volatility and within-period price dispersion, combining price controls and permit banking yields important benefits. Banking alone produces high permit prices in earlier periods that fall over time, but the combined policy produces lower initial prices and lower volatility. However, banking, price controls, and the combination all produce higher between-period emissions volatility. Hence, for emissions markets that seek to control flow pollutants with strictly convex damages, efforts to limit permit price risk can result in higher expected damage.     

睾丸酮丛毛单胞菌对喹啉类化合物的降解

对喹啉、异喹啉、2-甲基喹啉、3-甲基喹啉、4-甲基喹啉和6-甲基喹啉在睾丸酮丝毛单胞菌(Comamonas testosteroni Q10)作用下的降解及底物之间的相互作用进行研究．结果表明,喹啉和3-甲基喹啉不仅能有效地被降解,而且细菌也有明显的生长,而其它化合物虽有部分降解但没有观察到细胞生长．底物初始浓度的增加对菌Q10有一定抑制作用．喹啉的存在对其它化合物的降解具有不同的促进效应,其中尤以6-甲基喹啉和4-甲基喹啉最为明显．能在较短时间内得到完全去除,而在各二元体系中喹啉的降解受到这些化合物的抑制作用．     

Tell the truth or not? The montero mechanism for emissions control at work

We experimentally test the truth-telling mechanism proposed by Montero (2008) for eliciting firms' abatement costs. We compare this mechanism with two well-known alternative allocation mechanisms, free and costly allocation of permits at the Pigouvian price. Controlling for the number of firms and the firms' maximal emissions, we find that, in line with the theoretical predictions, firms over-report their maximal emissions under free allocation of permits and under-report these under costly allocation of permits. Under Montero's mechanism, by contrast, firms almost always report their maximal emissions truthfully. However, in terms of efficiency, the difference between Montero's mechanism and costly allocation disappears with industries including more than one firm.     

What floats your boat? Preference revelation from lotteries over complex goods

We examine a type of lottery used to distribute some publicly held resource access rights. The lottery provides participants with the opportunity to choose among a set of simple gambles over multi-attribute goods. Participant choices result in an endogenous distribution of success rates over gambles that reflects tradeoffs between the relative desirability of the available goods and the probability of winning. When lottery winnings are multi-attribute goods, lottery outcomes provide sufficient information to estimate hedonic prices, marginal utility, and marginal rates of substitution among attributes. We develop a model for characterizing preferences from this information set. We apply our model to Idaho?s Four Rivers Whitewater Recreation Lottery, which allows applicants to apply for one permit among a large set of alternative river/day combinations that provide varying river and weather characteristics. This lottery structure shows promise as a foundation for economic experiments for preference revelation.     

Firms' and states’ responses to laxer environmental standards

On June 1, 2017, President Trump announced the United States' withdrawal from the Paris agreement on climate change. Despite this decision, American firms continued investing in low-carbon technologies and some states committed to tougher environmental standards. To understand this apparent paradox, this paper studies how a weakening of environmental standards affects the behavior of profit-maximizing firms. It finds that a relaxation of emission standards (i) may increase firms’ incentives to adopt clean technologies, but not to pollute less; (ii) may negatively affect industry profitability if it is perceived as temporary; and, when this is the case, (iii) the unilateral adoption of stricter standards by large states may increase the expected profitability of every firm.     

凋落物处理对森林地表CO2通量的影响及其调控机理

全球变化和森林演替可以导致森林地表凋落物数量和质量的变化,从而对森林地表 CO2通量产生影响。本实验对亚热带不同演替阶段的3种,即马尾松林（前期）、混交林（中期）和季风林（后期）进行地表凋落物去除、加倍与置换处理,利用静态箱气相色谱法测定地表CO2通量,并同步测定气温、土壤温度和湿度,分析凋落物质量和数量变化对森林地表CO2通量的影响及其调控机理。结果表明,（1）去除凋落物处理显著降低了不同演替阶段的3种森林地表CO2通量,而加倍凋落物处理可以增加森林地表CO2通量,但不同演替阶段增加的幅度不同,依次为：季风林＞马尾松林＞混交林。（2）置换凋落物对不同演替阶段的森林地表 CO2通量的影响不同,在演替后期的季风林中,置换混交林和马尾松林凋落物处理均增加地表CO2通量;在演替中期的混交林中,置换季风林和马尾松林凋落物均降低地表CO2通量。在演替前期的马尾松林中,置换季风林凋落物增加地表CO2通量,而置换混交林凋落物降低了地表CO2通量（3）结合测定的土壤温度和水分数据分析得出,凋落物处理引起森林地表 CO2通量的变化是通过处理凋落物质量和数量后改变森林地表水热条件来实现的。（4）3个林型的各种处理,地表 CO2通量与土壤温度均呈显著的指数相关关系,但不同处理不同地改变了森林地表土壤 CO2通量对温度的敏感性,即Q10值。