Incentive-compatible pollution control policies under asymmetric information on both risk preferences and technology

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dc.contributor.author Peterson, Jeffrey M.
dc.contributor.author Boisvert, Richard N.
dc.date.accessioned 2013-03-21T15:26:00Z
dc.date.available 2013-03-21T15:26:00Z
dc.date.issued 2013-03-21
dc.identifier.uri http://hdl.handle.net/2097/15397
dc.description.abstract This article proposes a method to accommodate asymmetric information on farmers’ risk preferences in designing voluntary environmental policies. By incorporating stochastic efficiency rules in a mechanism design problem, the government can find incentive-compatible policies by knowing only the general class of risk preferences among farmers. The model also accounts for hidden information on technology types and input use. The method is applied empirically to simulate a pollution control program in New York. Results suggest that participation incentives would be inadequate for many risk-averse producers if the government does not account for the diversity in risk preferences. en_US
dc.language.iso en_US en_US
dc.relation.uri http://ajae.oxfordjournals.org/content/86/2/291.full en_US
dc.rights This is a pre-copy-editing, author-produced PDF of an article accepted for publication in American Journal of Agricultural Economics following peer review. The definitive publisher-authenticated version (Peterson, J. M., & Boisvert, R. N. (2004). Incentive-compatible pollution control policies under asymmetric information on both risk preferences and technology. American Journal of Agricultural Economics, 86(2), 291-306.) is available online at: http://ajae.oxfordjournals.org/content/86/2/291.full en_US
dc.subject Asymmetric information en_US
dc.subject Mechanism design en_US
dc.subject Nonpoint pollution en_US
dc.subject Risk preferences en_US
dc.title Incentive-compatible pollution control policies under asymmetric information on both risk preferences and technology en_US
dc.type Article (author version) en_US
dc.date.published 2004 en_US
dc.citation.doi doi: 10.1111/j.0092-5853.2004.00579.x en_US
dc.citation.epage 306 en_US
dc.citation.issue 2 en_US
dc.citation.jtitle American Journal of Agricultural Economics en_US
dc.citation.spage 291 en_US
dc.citation.volume 86 en_US
dc.contributor.authoreid jpeters en_US


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