Announcements:

 

 

 

Reading List and Course Outline

Robert T. Deacon                                Economics 260A                                        Fall 2011

Natural Resource Economics

http://www.econ.ucsb.edu/~deacon/econ260a.html

 

Time/place:   TTh 9:30-10:45, LSB 1011

Office hours:  T. 3:00-5:00 and by appointment

Course requirements:

  1. One term paper (50%) with class presentation: Papers (~15 pages) should be literature reviews on a general topic of potential interest to you. The reviews should focus on the economic contributions found in the literature. As part of your review, you should present a proposal for future research based on what you have learned. A set of broad topics can be found here, but these are just suggestions. A one paragraph description of your paper topic is due on October 18 papers are due on November 17 and presentations will take place during the last 2 weeks of class. Please make an appointment with me to discuss your paper sometime during the quarter.
  2. Depending on enrollment, each student will present one or two papers in class and will provide a 2-3 page referee report on the day of the presentation (30%). The time available for each presentation is approximately 20 min., plus 5 min. Q&A. A list of papers eligible for presentation follows.
  3. Take-home exam (20%).

List of eligible papers for presentation:

Amacher , G. S., M. Ollikainen and E. Koskela, 2009. Economics of Forest Resources, Cambridge: MIT Press; Chapter 6 “Deforestation: Models and Policy Instruments”.

Brander, J.A., and M. Scott Taylor, “The Simple Economics of Easter Island: A Ricardo-Malthus Model of Renewable Resource Use,” AER, 88(1) March 1998, 119-138.

Boyce, John R., 2009. “What Goes Up Must Come Down? An Economic Analysis of Peak Oil”. Working paper, Department of Economics, University of Calgary.

Bulte, E. H., R. Damania and R. Lopez, “On the gains of committing to inefficiency: Corruption, deforestation and low land productivity in Latin America”, JEEM, 2007..

*Costello, Christopher J., and Daniel Kaffine, “Natural resource use with limited-tenure property rights,”, JEEM 2008.

*Grafton, R. Quentin, Dale Squires and Kevin J. Fox, 2000. “Private Property and Economic Efficiency: A Study of a Common-Pool Resource”, Journal of Law and Economics Vol. XLIII: 679-713.

*Griffin , James M., and W. Xiong, "The Incentive to Cheat: An Empirical Analysis of OPEC," JLE XL (October 1997) 289-316.

Guriev, Sergei, Anton Kolotilin and Konstantin Sonin, 2009. Determinants of Nationalization of the Oil Sector: A Theory and Evidence from Panel Data”, JLEO, forthcoming 2009.

Kremer, M., and C. Morcom, “Elephants,” AER Vol. 90 no. 1 (March 2000) 212-234.

Smith, Martin D., and James E. Wilen, “Economic impacts of marine reserves: the importance of spatial behavior,” JEEM 46(2) (September 2003) 183-206.

Songhen, B., and R. Mendelsohn, “Valuing the Impact of Large-Scale Ecological Change in a Market: The Effect of Climate Change on U.S. Timber,” AER 88(4) (September 1998) 686-710.

Taylor, M. Scott, “Buffalo Hunt: International trade and the virtual extinction of the North American Bison,” AER forthcoming.

 

Format

Early in the quarter I will lecture on some of the basic concepts and methods covered in the textbook and on a few of the more specialized and applied topics. I will announce in class the material to read for the next meeting.

From time to time I will announce that a homework problem will be covered in the next class. I will call for a volunteer on the day of presentation to present and explain the solution. Each student will volunteer for at least 1 problem, and volunteer opportunities are first come-first served. The set of homework problems can be found here. You may also find it useful practice to work through a set of easy homework problems that I have assigned to undergraduates in the past

 

Topics

This course examines the operation of markets for natural resources, including minerals, fossil fuels, forest resources, fish, water, and natural environments. Physical processes determine natural resource abundance and at least a rudimentary representation of these processes is necessary for economic analysis. For this reason the readings often present simple biological models for studying fisheries and forests and incorporate geological concepts in examining minerals and hydrological concepts in examining groundwater. In a sense, this connection with natural process is what sets natural resource economics apart from other fields of the discipline. Ownership rights to natural resources often are not clearly defined. In these cases the interests of some potential resource users will not be reflected in market outcomes and the scramble to acquire these un-owned assets may be wasteful. Finally, the use of natural resources is ultimately linked to the release of waste products into the environment, so there are considerations of environmental degradation. These themes appear at various points in the course.

 

Textbook

Jon M. Conrad and Colin W. Clark, Natural Resource Economics: Notes and Problems, Cambridge University Press, 1987.

This is a book on modeling methods and spends relatively little time with institutions.  Other textbooks are:

A.C. Fisher, Resource and Environment Economics, Cambridge University Press, 1981.

P.S. Dasgupta and G.M. Heal, Economic Theory and Exhaustible Resources, Cambridge University Press, 1979.

Jon M. Conrad, Resource Economics, Cambridge University Press, 1999.

Nick Hanley, Jason F. Shogren, and Ben White, Environmental Economics in Theory and Practice, Oxford University Press, 1997.

John M. Hartwick and Nancy D. Olewiler, The Economics of Natural Resource Use, 2nd Ed., Addison Wesley 1998.

The first two are classic texts on natural resource economics theory; they treat individual topics in more detail than Conrad and Clark. Selected chapters from both are included on the reading list. Conrad’s Resource Economics is similar to Conrad and Clark, but is less rigorous and spends more time discussing resource industries and policies and emphasizes simulations. Hanley et al and Hartwick and Olewiler are advanced undergraduate texts.

Journal title abbreviations

AER  American Economic Review

AJAE  American Journal of Agric. Econ.

CJE  Canadian Journal of Economics

EJ  Economic Journal

EI  Economic Inquiry

ERE  Environ and Resource Econ

JET  Journal of Economic Theo

JFRBC  Jour. Fish. Res. Bd. Canada

JEL  Journal of Economic Literature

JLE   Journal of Law and Economics

JDE Journal of Development Economics

JPE  Journal of Political Economy

JLEO  Jour. of Law, Econ. and Organiz

JEP  J of Econ Perspectives

JPubE  J of Public Economics

JUE  J of Urban Economics

JEEM  Jour. of Environ. Econ. and Mgt

LE  Land Economics

MRE  Marine Resource Economics

NRM  Natural Resource Modelin

QJE  Quarterly Journal of Economic

REE  Resource and Energy Economics

REStat.  Review of Econ and Statist.

REStud.  Review of Economic Studies

RJE  Rand J of Economics

SEJ  Southern Economic Journal

SJE  Scandinavian J of Economics

WRR Water Resources Research

YJR  Yale Journal on Regulation

 

 

Readings marked * should be read; others are optional.

 

 

 

I.      INTRODUCTION

A.  Policy Issues and Scope of the Natural Resources Field

Introd. Slides

Hartwick and Olewiler, Chap. 1.

   Deacon. R. T., et al, “Research Trends and Opportunities in Environmental and Natural Resource Economics,” ERE, 11(3-4) 1998, 383-97.

    Krutilla, J., "Conservation Reconsidered", AER, Sept. 1967.

    Dasgupta and Heal, Chap. 1.

B. Natural Resource Scarcity

Fisher, Chapter 4.

*  Krautkraemer, Jeffrey A., “Natural Resource Scarcity,” JEL, 36(4) December 1998, 2065-2107.

    Hartwick and Olewiler, Chap. 2.

Halvorsen, Robert, and Tim Smith, “On Measuring Natural Resource Scarcity,” JPE 92(5) (1984) 954-963.

Barnett, H., and C. Morse, Scarcity and Growth: The Economics of Natural Resource Availability, Johns Hopkins University Press, 1962 (esp. Chaps. 1, 3, 8, 9, 12). Segments of this are in Fisher, Chap. 4.

    Devarajan, S., and A.C. Fisher, "Exploration and Scarcity", JPE, Vol. 90, no.2 (1982) 1279-1280.

    G.M. Brown Jr. and B.C. Field, "Implications of Alternative Measures of Natural Resource Scarcity", JPE, 86 (2), April 1978.

    Nordhaus, W.D., "Resources as a Constraint on Economic Growth", AER, May 1974.

 

II. GENERAL CONCEPTS AND METHODS

A. Welfare Economics, Property Rights, and Externalities

    (Review, discussed only briefly.)

    Dasgupta and Heal, Chapter 2, Chapter 3.

    Arrow, K.J., "The Organization of Economic Activity: Issues Pertinent to the Choice of Market Versus Non Market Allocation", in Haveman and Margolis, eds., Public Expenditures and Policy Analysis. Chicago: Markham, 1970, pp. 59-73.

    Brooks, R., M. Murray, S. Salant, and J. Weise, “When is the Standard Analysis of Common Property Extraction Under Free Access Correct? A Game Theoretic Justification for Non-Game-Theoretic Analyses.” JPE Vol. 107 no. 4 (August 1999) 843-858.

B. Analytical Methods

*  Conrad and Clark, pp. 13-40, 176-197, 209-214.

* Boileau, Martin, “A Child’s Guide to Optimal Control Theory,” mimeo, University of Colorado.

    Dasgupta and Heal, Chapter 4.

    C.W. Clark, Mathematical Bioeconomics,  Wiley and Sons, 1976, Chapter 4.

    Mesterton-Gibbons, M. “Game Theoretic Resource Modeling,” NRM, 7, 1993, pp. 93-147.

C. Applications

*  Zivin, J., Brent M. Hueth, and D. Zilberman, “Managing a Multiple-Use Resource: The Case of Feral Pig Management in California Rangeland,” JEEM Vol 35 (2000) 189-204.

Taylor, M. Scott, “Environmental Crises: Past, Present and Future”, NBER Working Paper, 2009.

Deacon, R. T., "Incomplete Ownership, Rent Dissipation, and the Return to Related Investments", EI, January 1995.

 

III. NONRENEWABLE RESOURCES

A. Basic Hotelling Model: Competition (NR price problem)

*  Conrad and Clark, pp. 117-145.

    Dasgupta and Heal, Chap. 6.

    Hartwick and Olewiler, Chap. 8.

    Fisher, Chapter 2, pp. 10-37.

*  Pindyck, R.S., "The Optimal Exploration and Production of Nonrenewable Resources," JPE, 1978.

Farzin, Y.,  "The Effect of the Discount Rate on Depletion of Exhaustible Resources," JPE 92, 5 (1984) 941-51.

    Livernois, J.R., and R.S. Uhler, "Extraction Costs-and the Economics of Nonrenewable Resources", JPE, Vol. 95, no. 1, (1987) 195-203.

B. Basic Hotelling Model: Imperfect Competition

Hartwick and Olewiler, Chap. 9.

Dasgupta and Heal, Ch. 11. .

C. Empirical Studies

*   Boyce, John R., 2009. “What Goes Up Must Come Down? An Economic Analysis of Peak Oil”. Working paper, Department of Economics, University of Calgary. (Focus on empirical tests of the peak oil hypothesis; less stress on the model.)

Pindyck, R.S., "Gains to Producers from the Cartelization of Exhaustible Resources," REStat., 1978, pp. 238-251.

     Salant, Steven W.,"Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to the World Oil Market," JPE Oct. 1976.

D. Taxation of Nonrenewable Resources

    Dasgupta and Heal, Ch. 12.

   Deacon, R.T., "Taxation, Depletion, and Welfare: A Simulation Model of the U.S. Petroleum     Resource", JEEM, 1993.

    Heaps, T., "The Taxation of Nonreplenishable Natural Resources Revisited", JEEM, 1985.

    Krautkraemer, J. A., "Taxation, Ore Quality Selection, and the Depletion of a Heterogeneous Deposit of a Nonrenewable Resource", JEEM, 18 (1990) 120-135.

    Kolstad, C. D., and F. A. Wolak, Jr. "Competition in Interregional Taxation: The Case of Western Coal," JPE, 19 (3) 1983.

E. Empirical Tests of the Hotelling Model

*  Miller, M.H., and C.W. Upton, "A Test of the Hotelling Valuation Principle," JPE, 93(1) Feb. 1985.

    Farrow, S., "Testing the Efficiency of Extraction from a Stock Resource," JPE, 1985.

    Black, G., and J. LaFrance, "Is Hotelling's Rule Relevant to Domestic Oil Production?" JEEM, 36(2) September 1998, 149-69.

F. Risk and the Production of Nonrenewable Resources

Crabbe, P.J., "Sources and Types of Uncertainty, Information and Control in Economic Models of Non-Renewable Resources", Optimal Control Theory and Economic Analysis, 1983.

*  Bohn, H., and R. T. Deacon, "Ownership Risk, Investment, and the Use of Natural Resources," AER Vol 90 no. 3 (June 2000) 526-549.

*   Guriev, Sergei, Anton Kolotilin and Konstantin Sonin, 2009. Determinants of Nationalization of the Oil Sector: A Theory and Evidence from Panel Data”, JLEO, forthcoming 2009.

G. What Motivates OPEC Behavior?

Griffin, James M., “OPEC Behavior: A Test of Alternative Hypotheses,” AER 75(December 1985) 954-963.

* Griffin, James M., and W. Xiong, "The Incentive to Cheat: An Empirical Analysis of OPEC," JLE XL (October 1997) 289-316.

    Gately, Dermot, "A Ten-Year Retrospective: OPEC and the World Oil Market, JEL XXII (September 1984) 1100-1114.

    Hnyilicza, Esteban and Robert S. Pindyck, "Pricing Policies for a Two-Part Exhaustible Resource Cartel: The Case of OPEC," EER 8 (1976) 139-154.

 

IV. FOREST RESOURCES

A. Basic Models and Results

*  Conrad and Clark, pp. 96-97.

* Amacher , G. S., M. Ollikainen and E. Koskela, 2009. Economics of Forest Resources, Cambridge: MIT Press; Chapter 2 “The Faustmann Rotation Model”.

    Johansson , P. O., and K. G. Lofgren, The Economics of Forestry and Natural Resources, Chap. 4, Basil Blackwell, 1997. (Chapters 5 and 7 are also suggested.)

    Deacon, R.T., "The Simple Analytics of Forest Economics" in R.T. Deacon and M.B. Johnson (eds.), Forestlands, Public and Private, Ballinger Publishing Co., 1984. (An advanced undergraduate level treatment of the optimal rotation and forest supply problem.)

    Bowes , M.D., and J.V. Krutilla, "Chapter 12: Multiple Use Management of Public Forestlands" in A.V. Kneese and J.L. Sweeney, Handbook of Natural Resource and Energy Economics, Vol.II, North-Holland, 1985.

B. Externalities, Ecological Considerations, and Forest Management

Hartman, R., "The Harvesting Decision When a Standing Forest Has Value." EI, March 1976.

* Amacher , G. S., M. Ollikainen and E. Koskela, 2009. Economics of Forest Resources, Cambridge: MIT Press; Chapter 3 “Hartman Models of Timber and Amenity Production”.

*  Songhen, B., and R. Mendelsohn, “Valuing the Impact of Large-Scale Ecological Change in a Market: The Effect of Climate Change on U.S. Timber,” AER 88(4) (September 1998) 686-710.

Nalle, D. J., et al, “Modeling joint production of wildlife and timber.” JEEM 48 (2004) 997-1017.

    Erickson, Jon D., D. Chapman, T.J. Fahey, and M.J. Christ, “Nonrenewability in Forest Rotations: Implications for Economic and Ecological Sustainability,” EE 31(1) 91-106 (1999).

*  Stavins , R.N,. and A.B. Jaffe, "Unintended Impacts of Public Investments on Private   Decisions: The Depletion of Forested Wetlands", AER, June 1990.

C. Management of Publicly Owned Forests

    Leal, D. R. , "Turning a Profit on Public Forests," PERC Policy Series: PS-4, September 1995, Bozeman Montana.

    Repetto, R.,  "8. Subsidized Timber Sales from National Forest Lands in the United States", in R. Repetto and M. Gillis, eds., Public Policies and the Misuse of Forest Resources, Cambridge Univ. Press, 1988.

D. Sequestering Carbon in Forests

*   Stavins, R. N., 1999. “The Costs of Carbon Sequestration: A Revealed-Preference Approach”, AER, 89(4) (September) 994-1009.

*  Van’t Veld, K., and A. Plantinga, 2005. “Climate Change and Forest Sinks: Factors Affecting the Costs of Sequestration”, JEEM, 50 59-81.

     Newell, R. G., and R. N. Stavins, 2000. “Climate Change and Forest Sinks: Factors Affecting the Costs of Sequestration”, JEEM, 211-235.

Busch, Jonah, B. Strassburg, A. Cattaneo, R. Lubowski, F. Boltz, R. Ashton, A. Bruner and R. Rice, 2009. “Comparing REDD Mechanism Design Options with an Open Source Economic Model”. Conservation International, Arlington, VA.

 

 

E. Supply of Forest Outputs

    Sedjo, Roger, and Kenneth S. Lyon, The Long Term Adequacy of World Timber Supply, Washington, DC: Resources for the Future, 1990.

Sedjo, Roger A., and Daniel Botkin, 1997. "Using Forest Plantations to Spare Natural Forests." Environment Vol. 39, no. 10 (December), pp. 14-20.

    Sedjo, Roger, “Biotechnology’s Potential Contribution to Global Wood Supply and Forest Conservation,” Working Paper, Resources for the Future, 2001.

 

V. DEFORESTATION, BIODIVERSITY AND RELATED TOPICS

A. Valuing Biodiversity for Pharmaceutical Use

*  R. D. Simpson, R. A. Sedjo, and J. W. Reid, "Valuing Biodiversity for use in Pharmaceutical Research", JPE, 104(1) 1996, 163-185.

    Gordon C. Rausser and Arthur A. Small, “Valuing Reserch Leads: Bioprospecting and the Conservation of Genetic Resources,” JPE Vol. 108, no. 1 ((2000) 173-205.

Costello, Christopher and Michael Ward, 2007. "Search, Bioprospecting, and Biodiversity Conservation,  Journal of Environmental Economics & Management. 52(3): 615-626. 2007.

B. Deforestation

* Amacher , G. S., M. Ollikainen and E. Koskela, 2009. Economics of Forest Resources, Cambridge: MIT Press; Chapter 6 “Deforestation: Models and Policy Instruments”.

*  R. Lopez, "Environmental Externalities in Traditional Agriculture and the Impact of Trade Liberalization: The Case of Ghana," JDE 53 (1997) 17-39.

Alston, Lee J., Gary D. Libecap and Bernardo Mueller, “Land Reform Policies, the Sources of Violent Conflict, and Implications for Deforestation in the Brazilian Amazon. JEEM Vol. 39 (2000) 162-188.

Bulte, E. H., R. Damania and R. Lopez, “On the gains of committing to inefficiency: Corruption, deforestation and low land productivity in Latin America”, JEEM, 2007.

Deacon, R. T., "Deforestation and Ownership: Evidence from Historical Accounts and Contemporary Data", LE, November 1999.

C. Species Extinction and Preservation

*  Weitzman, M. L., “The Noah’s Ark Problem.” Econometrica Vol. 66 No. 6 (Nov. 1998) 1279-1298.

*  Kremer, M., and C. Morcom, “Elephants,” AER Vol. 90 no. 1 (March 2000) 212-234.

    Bulte, Erwin H., R. D. Horan, and J. F. Shogren, "Elephants: Comment," AER Vol. 93 no. 4 (September 2003) 1437-1445.

    Kremer, M., and C. Morcom, “Elephants: ReplyAER Vol. 93 no. 4 (September 2003) 1446-1448.

Busch, Jonah, 2008. “Gains from Configuration: The Transboundary Protected Area as a Conservation ToolEcological Economics, 67(3) 394-404.

    Khanna, J., and Jon Harford, "The Ivory Trade Ban: Is It Effective?" EE 19 (1996) 147-155.

*  Montgomery, C., G. M. Brown, Jr., and D. M. Adams, "The Marginal Cost of Species Preservation: The Northern Spotted Owl", JEEM 26 (1994), pp. 111–128.

Montgomery, C., Pollack, Robert A. K. Freemark, and D. White, “Pricing Biodiversity.” JEEM 38(1) (July 1999) 1-19.

D. Preserving Species: The U.S. Endangered Species Act

*  Brown, Gardner M., and Jason F. Shogren, "Economics of the Endangered Species Act," JEP Vol. 12(3) (Summer 1998)     3-20.

*   Polasky, Stephen, and Holly Doremus, "When the Truth Hurts: Endangered Species Policy on Private Land with Imperfect Information," JEEM Vol 35 (1998) 22-47.

*   Metrick, A., and M. L. Weitzman, "Patterns of Behavior in Endangered Species Preservation." LE, 72(1) Feb. 1996, 1-16.

E. Measuring and Valuing Biodiversity

*  Solow, A., S. Polasky, and J. Broadus, "On the Measurement of Biological Diversity," JEEM Vol. 24 (1) 1993, 60-69.

    Polasky, Stephen, and A. R. Solow, “On the Value of a Collection of Species," JEEM 29(3) (November 1995) 298-303.

    Brock, William and Anastasios Xepapadeas, "Valuing Biodiversity from an Economic Perspective: A Unified Economic, Ecological, and Genetic Approach," AER 93:5 (December 2003.) 1597-1614.

*  Tilman, David, S. Polasky and C. Lehman, "Diversity, productivity and temporal stability in the economies of humans and nature," JEEM 49 (2005) 405-426.

Weitzman, M. L., "On Diversity," QJE," May 1992, 63-405.

    Weitzman, M. L., "What to Preserve? An Application of Diversity Theory to Crane Conservation." QJE," May 1993.

 

VI. FISHERIES AND OTHER RENEWABLE, UNOWNED SPECIES

A. Fisheries: Basic Models and Results

*  Conrad and Clark, pp. 62-96.

    Brown, Gardner M., Jr., “Renewable Natural Resource Use Without Markets,” JEL Vol 38 (December 2000) 875-914.

    Hartwick and Olewiler, Chaps. 4, 11.

Dasgupta and Heal, Ch. 5.

Weitzman, Martin, “Landing fees vs. harvest quotas with uncertain fish stocks,” JEEM 43(2) (2002) 325-348.

    Fisher, Chapter 3.

    C.W. Clark, Mathematical Bioeconomics, John Wiley and Sons, 1976, Chapters 1, 2, 7, 8, 9.

B. Fisheries: Alternative Approaches to Stock Dynamics

    Hannesson, R., "Fishery Dynamics: A North Atlantic Cod Fishery", CJE, May 1975.

    Deacon , R.T., "An Empirical Model of Fishery Dynamics", JEEM, Vol. 16, 1989.

    Townsend , R.E., "A Critique of Models of the American Lobster Fishery", JEEM, Vol. 13 (1986) 277-291.

    Conrad , J.M., "Management of a Multiple Cohort Fishery: The Hard Clam in Great South Bay", AJAE, 1982, pp. 463-474.

C. Fisheries: Policy Analysis

Wilen, J. E., “Renewable Resource Economists and Policy: What Differences Have We Made?” JEEM, 39(2000) 306-327.

*  Homans, F. R., and J. E. Wilen, "A Model of Regulated Open Access Resource Use," JEEM, 32 (1) (1997) 1-22.

Deacon, R.T., D. Finnoff, and John Tschirhart, 2009. “Restricted Capacity and Rent Dissipation in a Regulated Open Access Fishery,” REE forthcoming.

*   Grafton, R. Quentin, Dale Squires and Kevin J. Fox, 2000. “Private Property and Economic Efficiency: A Study of a Common-Pool Resource”, Journal of Law and Economics Vol. XLIII: 679-713.

     Newell, Richard G., James N. Sanchirico and Suzi Kerr, 2005. “Fishing Quota Markets”, Journal of Environmental Economics and Management, Vol. 49: 437-462.

     Singh, R., Q. Weninger, and M. Doyle, “Fisheries management with stock growth uncertainty and costly capital adjustment.” JEEM 52(2006) 582-599.

*   Deacon, R., D. Parker and C. Costello, 2008. “Overcoming the Common Pool Problem through Voluntary Cooperation: The Rise and Fall of a Fishery Cooperative” Working paper: UCSB Department of Economics, Dec. 2008.

*   Costello, Christopher J., and Daniel Kaffine, “Natural resource use with limited-tenure property rights, JEEM 2008.

Deacon, R., and D. Parker, 2009. “Encumbering Harvest Rights to Protect Marine Environments: A Theory of Marine Conservation EasementsAustralian Journal of Agricultural and Resource Economics, Vol. 53, 37-58.

     Costello, C., and R. Deacon, 2007. “The Efficiency Gains from Fully Delineating Rights in an ITQ FisheryMarine Resource Economics, Vol. 22, 347-361.

*   Johnson, R. N., and Gary D. Libecap, 1985. “Contracting Problems and Regulation: The Case of the Fishery”, AER 72(5) 1005-22.

Scott, Anthony, 2000. Moving Through the Narrows: From Open Access to ITQs and Self-government. In Ross Shotton ed., Use of Property Rights in Fisheries Management, FAO Fisheries Technical Paper 404/1, at 114–15.

Wilen, James, 2006. “Property Rights and the Texture of Rents in Fisheries”, Working Paper, UC Davis, Department of Agricultural and Resource Economics.

Hartwick and Olewiler, Chap. 5.

G.R. Munro and A.D. Scott, "The Economics of Fisheries Management", in A.V. Kneese and J.L. Sweeney, Handbook of Natural Resource and Energy Economics, Vol.II, North-Holland, 1985.

D. Fisheries: Spatial Analysis and Marine Reserves

*   Costello, Christopher and Stephen Polasky, “Optimal harvesting of stochastic spatial resources. Journal of Environmental Economics & Management. 56: 1-18. 2008.

Sanchirico, J.,  and James Wilen, “Bioeconomics of Spatial Exploitation in a Patchy Environment,“ JEEM 37(2) March, 1999, 129-151.

Sanchirico, James N. and James E. Wilen, “A Bioeconomic Model of Marine Reserve Creation, JEEM, 42(3) (November 2001) 257-276. 

*  Smith, Martin D., and James E. Wilen, “Economic impacts of marine reserves: the importance of spatial behavior,” JEEM 46(2) (September 2003) 183-206.

*   Wilen, James, 2007. “Economics of Spatial-Dynamic ProcessesAJAE 89(5) 1134-1144.

Costello, Chris, and Michael B. Ward, “An economic free lunch from marine reserves?” Mimeo, Bren School, UCSB, 2004.

E. Free Access, Over Exploitation, and Extinction

*  Brander, J.A., and M. Scott Taylor, “The Simple Economics of Easter Island: A Ricardo-Malthus Model of Renewable Resource Use,” AER, 88(1) March 1998, 119-138.

* Taylor, M. Scott, “Buffalo Hunt: International trade and the virtual extinction of the North American Bison,” NBER Working Paper 12969, 2007.

 

 

VII. RESOURCES, INSTITUTIONS, AND INSTITUTIONAL CHANGE

A. The ‘Natural Resource Curse’

*  Sachs, J. D. and A. M. Warner. “The curse of natural resourcesEuropean Economic Review 45 (2001) 827-38. 

*  Mehlum, H., K. Moene and R. Torvik, 2006. “Institutions and the Resource CurseEconomic Journal, 116 (January) 1-20. 

Sala –i-Martin, Xavier, and Arvind Subramanian, 2003. “Addressing the Natural Resource Curse: An Illustration from Nigeria,” Cambridge Mass., National Bureau of Economic Research, Working Paper 9804.

Torvick, R. 2002 “Natural Resources, Rent Seeking and Welfare” Journal of Development Economics, 67, 455-70.

B. Evolution of Property Rights and Natural Resource Use

Copeland, Brian R., and M. Scott Taylor, “Trade, Tragedy and the Commons,” Working paper, Department of Economics, University of Calgary, (Forthcoming AER).

Libecap, Gary D., and James L. Smith, “The Economic Evolution of Petroleum Property Rights in the United States,” J. Legal Studies, XXXI (June 2002) S589-S608.

    Libecap, Gary D., and S. Wiggins, “Contractual Responses to the Common Pool: Prorationing of Crude Oil Production,” AER 87 (1984).

C. Informal Management of Common Property Resources

Otsuka, K., A. Quisumbing, E. Payongayong, and J. Aidoo, 2003. “Land tenure and the management of land and trees: The case of customary land tenure areas of Ghana.” Environment and Development Economics, 8(1) (February 20003) 77-105.

Ostrom, Elinor, Roy Gardner and James Walker, 1994. Rules, Games, and Common Pool Resources, Ann Arbor: University of Michigan Press.

 

VIII. WATER RESOURCES

A. General Analysis

*   Boggess, W., R. Lacewell, and David Zilberman, "Economics of Water Use in Agriculture," in G. A. Carlson, D. Zilberman, and J. A. Miranowski, Agricultural and Environmental Resource Economics, New York: Oxford University Press, 1993.

    Burness, H.S., and J.P. Quirk, "Appropriative Water Rights and the Efficient Allocation of Resources," AER, March 1979.

    Burness, H.S., and J.P. Quirk, "Economic Aspects of Appropriative Water Rights," JEEM, Vol. 7, No. 4, 1980, pp. 372-388.

B. Managing Groundwater

*  Conrad and Clark, pp. 194-197.

*  Gisser, M. and D. A. Sanchez, "Competition Versus Optimal Control in Groundwater Pumping," WRR Vol. 16 (4) August 1980.

*  Brozovic, Nicholas, David L. Sunding and David Zilberman, “Managing Groundwater with Spatially Variable Externalities,” Working paper, Department of Agricultural and Resource Economics, UC Berkeley, 2005.

     Koundouri, Phoebe, 2003. “The Potential for Groundwater Management: Gisser-Sanchez Effect Reconsidered,WRR Vol. 40 WO6S16.

    Knapp, K. C., and Olson, L.J., "The Economics of Conjunctive Groundwater Management with Stochastic Surface Supplies, JEEM 28, 1995, 340-356.

     Burness, H.S., and T. C. Brill, 2001. “The Role for Policy in Common Pool Groundwater Use.REE, 23 19-40.

Provencher, B, and O Burt, "The Externalities Associated with the Common Property Exploitation of Groundwater," JEEM Vol. 24 (2) March 1993, 139-159.

*   Provencher, B., and O. Burt, “A Private Property Rights Regime for the Commons: The Case for Groundwater,” AJAE 1994, 875-888.

     Provencher, B., “A Private Property Rights Regime to Replenish a Groundwater Aquifer,” LE Vol 69(4) (November 1993) 325-340.