Cost pass-through to higher ethanol blends at the pump: Evidence from Minnesota gas station data

We examine the pass-through of wholesale prices to retail prices in the market for E85, which contains 51%–83% ethanol, and in the much larger market for E10, which contains 10% ethanol. We use a panel dataset consisting of monthly observations from 2007 to March 2015 on wholesale and retail prices for 274 Minnesota gas stations that sell both E10 and E85. Consistent with prior research, the cumulative pass-through coefficient for E10 is 1.00 after one month. In contrast, the E85 market is sparse, and although pass-through increased over time, we estimate it to be only 0.53 statewide from 2012 to 2015. Pass-through is higher at stations with more local E85 competitors. In the Twin Cities, which has a high density of E85 stations, pass-through is nearly complete, but outside the Twin Cities slightly less than half the wholesale discount of E85, relative to E10, is passed on to the consumer.     

再生资源产业发展的国际经验与我国的对策选择

20世纪80年代以来,再生资源产业被许多国家作为战略性产业而得到迅速发展。近年来,我国再生资源产业发展较快,但与发达国家相比还存在较大差距,总结和借鉴发达国家的经验,并提出推进加快产业发展的对策具有重要的现实意义。     

Rank-related partner choice in the fission–fusion society of the spotted hyena (<Emphasis Type="Italic">Crocuta crocuta</Emphasis>)

When social partners vary in their relative value, individuals should theoretically initiate partnerships with conspecifics of the highest value. Here, we tested this prediction in a wild population of spotted hyenas (Crocuta crocuta). Crocuta live in complex, fission–fusion societies structured by dominance hierarchies in which individuals vary greatly in their value as social companions. Because patterns of association among Crocuta reflect social preferences, we calculated association indices (AIs) to examine how social rank influences intrasexual partner choice among unrelated adults of both sexes. The highest-ranking individuals were generally most gregarious in both sexes. Females associated most often with dominant and adjacent-ranking females. Females joined subgroups based on the presence of particular conspecifics such that subordinates joined focal females at higher rates than did dominants. Dominants benefit from associations with subordinates by enjoying priority of access to resources obtained and defended by multiple group members, but the benefits of these associations to subordinates are unknown. To investigate this, we tested three hypotheses suggesting how subordinates might benefit from rank-related partner choice among unrelated females. We found that subordinates who initiated group formation benefited by gaining social and feeding tolerance from dominants. However, rates at which dominants provided coalitionary support to subordinates did not vary with AIs. Overall, our data resemble those documenting patterns of association among cercopithecine primates. We consider our results in light of optimal reproductive skew theory, Seyfarth’s rank attractiveness model, and biological market theory. Our data are more consistent with the predictions of Seyfarth’s model and of biological market theory than with those of skew theory.     

Globalization of the Amazon Soy and Beef Industries: Opportunities for Conservation

Abstract:  Amazon beef and soybean industries, the primary drivers of Amazon deforestation, are increasingly responsive to economic signals emanating from around the world, such as those associated with bovine spongiform encephalopathy (BSE, "mad cow disease") outbreaks and China's economic growth. The expanding role of these economic "teleconnections" (coupled phenomena that take place in distant places on the planet) led to a 3-year period (2002–2004) of historically high deforestation rates. But it also increases the potential for large-scale conservation in the region as markets and finance institutions demand better environmental and social performance of beef and soy producers. Cattle ranchers and soy farmers who have generally opposed ambitious government regulations that require forest reserves on private property are realizing that good land stewardship—including compliance with legislation—may increase their access to expanding domestic and international markets and to credit and lower the risk of "losing" their land to agrarian reform. The realization of this potential depends on the successful negotiation of social and environmental performance criteria and an associated system of certification that are acceptable to both the industries and civil society. The foot-and-mouth eradication system, in which geographic zones win permission to export beef, may provide an important model for the design of a low-cost, peer-enforced, socioenvironmental certification system that becomes the mechanism by which beef and soy industries gain access to markets outside the Amazon.     

Bilateral Monopoly: A Market for Intercountry River Water Allocation

/ Collaboration of countries with an aim to share fresh surface water resources promises to generate potential joint benefits. Unfortunately, existing agreements lack the perspective and capacity to produce any real action in efficient cross-border water allocation. When that problem is encountered by any two adjacent countries claiming riparian rights to the same watercourse, this paper suggests that apossible solution to be examined is a water market. This market requires the relevant countries to engage in a bargaining process as described in the theory of bilateral monopoly. The bargaining process should determine both the water quantity to be transferred and the price to be paid. However, there has to be a fair allocation of the joint benefits resulting from the transfer for a sustainable price solution. As an empirical illustration, the paper examines the case of river Nestos shared by Bulgaria and Greece in the southern Balkans. A net revenue function quadratic in water is specified and estimated using scarce data on three agricultural crops in Greece. Sensitivity analysis on the size and distribution of the net benefits is also performed.KEY WORDS: Bilateral agreements; Water markets; Efficient allocation     

发达国家电力产业发展循环经济的经验

电力产业大力发展循环经济,对国家经济持续稳定的增长具有基础性、关键性、长期性的作用。详细介绍了发达国家电力产业在减少排放、控制污染、提高发电效率、推行清洁生产、探索建立循环经济工业园区及发展可再生能源发电等方面的经验和做法,为我国电力产业大力发展循环经济提供良好借鉴。     

Water Transactions for Streamflow Restoration,Water Supply Reliability,and Rural Economic Vitality in the Western United States

Across the western United States, environmental water transaction programs (EWTPs) restore environmental flows by acquiring water rights and incentivizing changes in water management. These programs have evolved over several decades, expanding from relatively simple two‐party transactions to multiobjective deals that simultaneously benefit the environment and multiple water‐using sectors. Such programs now represent an important water management tool and provide an impetus for collaboration among stakeholders; yet, most evaluations of their effectiveness focus exclusively on environmental outcomes, without adequate attention to impacts on other water users or local economies. To understand how these programs affect stakeholders, a systematic, multiobjective evaluation framework is needed. To meet this need, we developed a suite of environmental and socioeconomic indicators that can guide the design and track the implementation of water transaction portfolios, and we applied them to existing EWTPs in Oregon and Nevada. Application of the indicators quantifies impacts and helps practitioners design water transaction portfolios that avoid unintended consequences and generate mutually beneficial outcomes among environmental, agricultural, and municipal interests.     

发达国家城市环境治理的若干经验

发达国家城市环境治理的经验主要有:完善环境保护法律制度,保证治理措施的有效实施;健全环境管理体系,强化环境行政管理;注意推动自愿性行动来保护环境,积极推动公众参与环境治理;运用经济手段,制定激励奖惩措施,提高环境治理的效率;合理划分环境治理权限,建立权威性的管理机构;大量发展环境教育,通过民众环境保护意识,形成民族心理;加大科技投入,注重科技进步,发展环保产业。这些经验及其教训留给人们诸多启示,值得中国学习与借鉴。     

On The Research of Foreign and Domestic Human Capital Theory

Abstract

Human Capital Theory came into being in the middle and later periods of the 20th century. A lot of achievements have been made on the research in its connotation, measures of the value, investment and income, function mechanism and so on, by foreign scholars. In recent 10 years of the new Millennium alternation, the “steal business effect” and the structure of human capital on the mechanism of economic rise has become the two emphasis in current foreign Human Capital Theory's research. On the basis of foreign researches and Chinese situations, domestic scholars have enriched and developed it, but there are many disparities in its methods, aspects and levels between foreign and domestic researches.     

Economic and Ecological Rules for Water Quality Trading1

Horan, Richard D. and James S. Shortle, 2011. Economic and Ecological Rules for Water Quality Trading. Journal of the American Water Resources Association (JAWRA) 47(1):59‐69. DOI: 10.1111/j.1752‐1688.2010.00463.x Abstract: Emissions trading in textbook form uses markets to achieve pollution targets cost‐efficiently. This result is accomplished in markets that regulators can implement without knowing pollution abatement costs. The theoretical promise of emissions trading, along with real‐world success stories from air emissions trading, has led to initiatives to use trading for water pollution control. Yet, trading, particularly when it involves nonpoint sources of pollution, requires significant departures from the textbook concept. This paper explores how features of water quality problems affect the design of markets for water pollution control relative to textbook emissions markets. Three fundamental design tasks that regulators must address for pollution trading to achieve an environmental goal at low cost are examined: (1) defining the point and nonpoint commodities to be traded, (2) defining rules governing commodity exchange, and (3) setting caps on the commodity supplies so as to achieve an environmental target. We show that the way in which these tasks are optimally addressed for water quality markets differs significantly from the textbook model and its real‐world analogs. We also show that the fundamental appeal of emissions trading is lost in the case of realistic water quality markets, as market designs that reduce the costs of achieving water quality goals may no longer be implementable without the regulatory authority having information on abatement costs.