The tragedy of the commons and socialization: Theory and policy

We revisit the Tragedy of the Commons in a dynamic overlapping generations economy populated of shepherds who decide how many sheep they let graze on a common parcel of land, while relying on different forms of rationality (Nash players and Kantian players). We examine the dynamics of moral behaviors and land congestion when the prevalence of different types evolves over time following a vertical/oblique socialization process à la Bisin and Verdier (2001). We study the impact of a quota and of a tax on the congestion of land, and we show that introducing a quota may, in some cases, reduce the proportion of Kantians, and worsen the Tragedy of the Commons with respect to the laissez-faire. Ignoring the dynamics of moral traits may lead governments to implement policies that make the Tragedy worse than at the laissez-faire, even though such policies would work well for a fixed population composition.     

珠江三角洲四种森林类型土壤CO2通量特征研究

采用开路式土壤CO2通量测量系统Li-8100&Li-8150对珠江三角洲地区尾叶桉(Eucalyptus urophylla)人工林、乡土树种恢复林、针阔叶混交林和常绿阔叶林4种林型的土壤CO2通量进行了观测。结果表明:4种森林类型年均土壤CO2通量为尾叶桉人工林(3.35μmol.m-2.s-1)>针阔叶混交林(2.66μmol.m-2.s-1)>乡土树种恢复林(2.09μmol.m-2.s-1)>常绿阔叶林(1.86μmol.m-2.s-1);旱季土壤CO2通量明显小于雨季。前3种森林类型凋落物呼吸处理表明,旱季对照组土壤CO2通量均小于相应的去除凋落物组、雨季则相反,全年的对比结果显示,3种森林类型的凋落物呼吸贡献分别达到1.3%、7.1%和10.8%。土壤CO2通量与10 cm土壤温度呈显著指数相关,且土壤CO2通量温度敏感指数表现为针阔叶混交林Q10最大(3.49),尾叶桉人工林Q10最小(1.95)。     

Resource abundance and financial development: Evidence from China

In this paper, we extend the debate on the resource curse by focusing on a new mechanism. Theoretically, resource abundance may have a negative influence on financial development by impacting trade openness, the demand for financial reforms, social capital accumulation and productive investments. Using provincial panel data of China, the empirical analysis confirms such a negative link between mineral resource abundance and financial development. The resource-rich regions tend to have a slower pace of financial development than resource-poor ones. Since the positive relationship between financial development and long-run growth is also confirmed by the analysis, our findings suggest that financial development constitutes an important mechanism through which resource abundance can impact economic performance.     

Aggregates in England—Economic contribution and environmental cost of indigenous supply

Aggregates represent one of the largest material flows in the UK economy; however, the importance of these minerals in underpinning economic activity is frequently not recognised. Features such as the spatial imbalance between resources and demand centres, exacerbated by changes in demographics and public perception, are placing increased pressure on the planning system to maintain supply. This paper sets out the direct and indirect economic contributions made by the indigenous aggregates industry to the English economy through Gross Value Added and employment sustained. It describes the key role of aggregates in construction activities, assesses the links between infrastructure development and economic growth. In 2005, aggregates extraction directly contributed £810 million of Gross Value Added to the English economy. Primary aggregates are, however, extracted at a cost to the environment and this cost, based on amenity value reduction, is estimated by updating previously published contingent valuation data. Estimates for the costs associated with carbon dioxide emissions are derived from values published by the European Union and, separately, by the UK Government. These two elements combined result in an environmental cost of indigenous extraction of £445 million in 2005. Additionally, an examination of the potential for a significant increase in the level of aggregate imports into England is made and the consequences assessed. This includes an evaluation of shipping costs and port capacity, and concludes that there are significant barriers to any substantial increase in the level of aggregate imports into England. As a consequence, indigenous supply is likely to predominate into the foreseeable future.     

The impact of commodity price risk management on the profits of a company

It is well recognized that for the producing companies hedging the commodity price using financial products like forwards or futures has become an important part of the company's production process. But apart from the direct impacts of hedging on the production and hedging costs the use of financial products affects the financing of the company: hedging the volatile commodity prices leads to a reduction of the risk premium the company has to pay for its debt capital, since hedging contributes to more confidence of the investors in the redemption of the debt. In this paper we therefore analyze this dependency of hedging and financing and derive optimal hedging extents for companies in different market situations based on a long-term model. By hedging the commodity price, companies can realize a surplus in profits. Thereby, the optimal hedging extent for a monopolist is often up to 100%, whereas for companies in a polypolistic market the optimum is always less than 100%. These results are illustrated by examples for a producing company.     

Measurement of market power for the environmentally regulated Korean iron and steel manufacturing industry

For industries in which where market prices of certain inputs are not available, measuring the degree of market power by using the markup over the marginal market cost may be inappropriate. With regard to the Korean iron and steel manufacturing industry, which is subject to environmental regulations, the calculation of the price of abatement capital is hindered by a lack of relevant data. To increase the reliability of market power markups, this paper estimates the restricted cost function in which abatement capital is assumed to be quasi-fixed at an optimal level and the supply relation. The degree of market power for the industry, measured as the ratio of the estimated market power markup to the supply price, was estimated to be 0.54 on average between 1982 and 2001. The results indicate that ignoring environmental regulations can overstate the degree of market power by approximately 12%.     

Economic implications of long distance commuting in the Chilean mining industry

More than 10% of the labor force that works in Antofagasta lives in other regions, commuting on average more than 800 km in a shift system that allows working several days in a row followed by several days off. The mining industry is the main contractor of such workers and the impact of the process spreads through the rest of the Chilean territory.Using an input-output approach, this paper shows that a significant amount of resources generated by the mining industries in the Region of Antofagasta goes to other regions in wages earned by commuters who have decided to work in this region but live in another. The commuting process seems to be driven by centripetal forces that support centralization, thus arguing for regional policies to promote the attractiveness of the peripheral regions.     

Inactivation effect of pressurized carbon dioxide on bacteriophage Qβ and ΦX174 as a novel disinfectant for water treatment

The inactivation effects of pressurized CO2 against bacteriophage Qβ and ΦX174 were investigated under the pressure of 0.3–0.9 MPa, initial concentration of 107–109PFU/mL, and temperature of17.8°C–27.2°C. The optimum conditions were found to be 0.7 MPa and an exposure time of 25 min. Under identical treatment conditions, a greater than 3.3-log reduction in bacteriophage Qβ was achieved by CO2, while a nearly 3.0 log reduction was observed for phage ΦX174. The viricidal effects of N2O(an inactivation gas with similar characteristics to CO2), normal acid(HCl), and CO2 treatment with phosphate buffered saline affirmed the chemical nature of CO2 treatment. The pumping cycle, depressurization rate, and release of intracellular substances caused by CO2 were its viricidal mechanisms. The results indicate that CO2 has the potential for use as a disinfectant without forming disinfection by-products.     

How have reforms fuelled the expansion of artisanal mining? Evidence from sub-Saharan Africa

This paper investigates whether and how World Bank mining sector reforms have fuelled the expansion of illegal artisanal mining activity in Sub-Saharan Africa. In doing so, the analysis examines three issues. First, the emerging correlation between reforms and poverty, mainly a result of increased unemployment caused by Structural Adjustment Programmes and concurrent privatisation of state-owned enterprises, is explored. Second, the possibility that reform of large-scale mining has decreased available land for peasant farming as well as legalised small-scale mining activity is discussed. Finally, the notion that the regularisation of informal mining activities has been an exceedingly bureaucratic procedure in Africa, therefore providing individuals with little incentive to operate within the legal domain, is examined. Faced with few employment prospects, a growing number of Africans are pursuing employment in the artisanal mining sector, a worrying prospect given its intimate association with environmental degradation and HIV/AIDS.     

重庆丘陵山区石灰性黄壤呼吸特征及影响因素

采用静态暗箱一二氧化碳红外分析仪法研究了重庆丘陵山区石灰性黄壤土壤呼吸特征及影响因素.结果表明,土壤呼吸速率呈现季节性动态变化特征,冬季较低,夏季较高,与地温的季节动态变化基本一致;土壤呼吸与地温之间呈指数关系,其中与5 cm地温的相关性最好;不同土层、不同处理的Q10值不同,变化范围为1.67～2.69.不同田间管理措施对土壤呼吸速率有明显影响,表现为施肥土壤＞未施肥处理,种植作物土壤＞裸地;化肥使种植作物土壤的年平均呼吸速率增加70.8%,化肥、粪肥共同作用增加129%;与裸地相比,单种作物不施肥不能显著增加土壤CO2排放.裸地春、秋、冬季的土壤呼吸速率与土壤水分呈直线关系,决定系数R2=0.414,P＜0.01.在夏季,种植作物未施肥和施化肥处理两者也呈直线关系,R2分别为0.5361和0.4261(P＜0.05),其他季节两者未表现出明显的规律性.