Moral hazard, externalities, and compensation for crop damages from wildlife

Article Abstract:

A principal-multiple agent model is developed to analyze wildlife damage abatement and compensation programs in a setting whereby farmers sustain damages and hunters use the wildlife for recreational purposes. In addition to externalities inherent in abatement, abatement/compensation policy focuses on the issue of moral hazard. An evaluation of contracts in which transfers of severe hunting regulations and monetary payments from hunting license fees can be used to overcome moral hazard is also presented.

Habitats, Animals, Animal ecology, Crop losses

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The case for diminishing marginal existence values

Article Abstract:

The study offers a controlled comparison between elicitation by mail as opposed to by phone. The mixed-mode willingness to pay (WTP) for the four-park proposal was $235.18, suggesting that the two formats offered identical results. Several researchers have indicated that WTP estimates can be prejudiced upward if respondents feel enjoined to answer in a manner that they deem may be favorable to the interviewer.

Economic Planning & Research, Research, Economic conditions, Valuation, Marginal utility

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Avoiding invasives: trade related policies for controlling unintentional exotic spices introductions

Article Abstract:

They use a simple model of contaminated goods trade to analyze the optimal mix of tariffs and inspections as means of controlling damage from the negative externality. They found that the optimal tariff on imported good is positive, despite the absence of any motif for the importing country to use a distortionary tariff to extract rents from overseas producers or shift market shares to domestic firms.

Tariffs & Duties, Tariffs & Quotas, Food contamination, Tariffs

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