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| Registros recuperados: 87 | |
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| Collins, Robert A.; Karp, Larry S.. |
| This article reviews various models that may be used to explain optimal leverage choice for the proprietary farmer in a stochastic dynamic environment and develops a new model that highlights the risk of failure rather than the usual concept of risk as the variability of wealth. The model suggests that in addition to the usual factors, farm financial leverage is affected by age, wealth, and the opportunity cost of farming. |
| Tipo: Journal Article |
Palavras-chave: Farm Management. |
| Ano: 1993 |
URL: http://purl.umn.edu/30962 |
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| Hoel, Michael; Karp, Larry S.. |
| We compare the effects of taxes and quotas for an environmental problem in which the regulator and polluter have asymmetric information about abatement costs, and the environmental damage depends on the stock of pollution. We thus extend, to a dynamic framework, previous studies in which environmental damages depend on the flow of pollution. As with the static analysis, an increase in the slope of the marginal abatement cost curve, or a decrease in the slope of the marginal damage curve, favors taxes. In addition, in the dynamic model, an increase in the discount rate or the stock decay rate favor the use of taxes. Taxes certainly dominate quotas if the length of a period during which decisions are constant is sufficiently small. An empirical illustration... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Pollution control; Asymmetric information; Taxes and quotas; Stochastic control; Environmental Economics and Policy; H21; Q28. |
| Ano: 2001 |
URL: http://purl.umn.edu/25010 |
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| Registros recuperados: 87 | |
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