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| Hansen, Kristiana; Kaplan, Jonathan D.; Kroll, Stephan; Howitt, Richard E.. |
| Risk and reliability dominate water supply discussions in the arid western United States. In the past, water managers built additional storage to mitigate supply risk. The optimal, least expensive storage sites have now been taken, and there are strong, environmental objections to new facilities. Reliability of existing supplies is further diminished due to concerns about endangered species and global climate change. Thus water agencies increasingly turn to contractual mechanisms such as dry-year options to manage supply risk in advance of need. However, although a few water agencies across the West have implemented dry-year options, sufficient data for conventional econometric analysis do not yet exist. We thus utilize experimental economics to... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2007 |
URL: http://purl.umn.edu/10002 |
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| Hansen, Kristiana; Kaplan, Jonathan D.; Kroll, Stephan. |
| Risk and reliability dominate water supply discussions in the arid western United States in light of increasing demand and finite, weather-dependant supply. Thus water agencies increasingly turn to contractual mechanisms such as dry-year options to manage supply risk in advance of need. Although a few water agencies across the West have implemented dry-year options, sufficient data for conventional econometric analysis do not yet exist. We thus utilize experimental economics to analyze the effect of annual dry-year options on water markets. We consider how market structure (competitive versus monopsony power) and option contract availability affect water price and allocation within a market and find that realized gains from trade are on average higher when... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Resource /Energy Economics and Policy; D23; L22; Q25. |
| Ano: 2008 |
URL: http://purl.umn.edu/108722 |
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| Costanigro, Marco; Kroll, Stephan; Thilmany, Dawn D.. |
| We endowed consumers with conventional apples and auctioned local, organic and organic-local apples to elicit consumers’ valuation and the response to two experimental treatments: scientific information and taste. For both labels, which participants valued as partial substitutes, positive WTP is conditional on distrusting the governmental food agencies. Information documenting the inconclusive scientific evidence in favor of organic and local production has little effect; while participants with positive valuation reacted to organoleptic characteristics only when the new information favored the labeled apples. The observed behavior is more consistent with polarization against conventional products, rather than in favor of local and organic. |
| Tipo: Presentation |
Palavras-chave: Food Consumption/Nutrition/Food Safety. |
| Ano: 2012 |
URL: http://purl.umn.edu/123199 |
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