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Multiple Agents, and Agricultural Nonpoint-Source Water Pollution Control Policies

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  • Smith, Rodney B.W.
  • Tomasi, Theodore D.

Abstract

Assuming asymmetric information over farmer profits and zero transaction costs, prior literature has suggested that when regulating nonpoint source water pollution, a tax on management practices (inputs) can implement full-information allocations and is superior to a tax on estimated runoff. Using mechanism design theory under asymmetric information, this paper shows that under the same assumptions, management practice taxes and taxes on estimated runoff are equally efficient.

Suggested Citation

  • Smith, Rodney B.W. & Tomasi, Theodore D., 1999. "Multiple Agents, and Agricultural Nonpoint-Source Water Pollution Control Policies," Agricultural and Resource Economics Review, Cambridge University Press, vol. 28(1), pages 37-43, April.
    • Handle: RePEc:cup:agrerw:v:28:y:1999:i:01:p:37-43_00
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    Citations

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    Cited by:

    1. Johansson, Robert C., 2001. "Mechanism Design For Nutrient Trading Under Asymmetric Information," 2001 Annual meeting, August 5-8, Chicago, IL 20558, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Carmen Arguedas & Daan Soest, 2011. "Optimal Conservation Programs, Asymmetric Information and the Role of Fixed Costs," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 50(2), pages 305-323, October.
    3. Line Hansen & Lars Hansen, 2014. "Can Non-point Phosphorus Emissions from Agriculture be Regulated Efficiently Using Input-Output Taxes?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(1), pages 109-125, May.
    4. Peterson, Jeffrey M. & Boisvert, Richard N., 2001. "Designing Nonpoint Source Pollution Policies With Limited Information About Both Risk Attitudes And Production Technology," 2001 Annual meeting, August 5-8, Chicago, IL 20720, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Johansson, Robert C. & Claassen, Roger & Peters, Mark, 2002. "New Conservation Initiatives In The 2002 Farm Bill," 2002 Annual meeting, July 28-31, Long Beach, CA 19760, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Peterson, Jeffrey M. & Boisvert, Richard N., 2001. "Designing Nonpoint Source Policies With Limited Information About Both Risk Attitudes and Production Technology," Working Papers 127661, Cornell University, Department of Applied Economics and Management.
    7. Patterson, Jeffrey M. & Boisvert, Richard N., 2002. "An Incentive Compatible Self-Compliant Pollution Policy and Asymmetric Information on Both Risk Attitudes and Technology," Working Papers 127318, Cornell University, Department of Applied Economics and Management.
    8. Johansson, Robert C., 2002. "Watershed Nutrient Trading Under Asymmetric Information," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(2), pages 1-13, October.
    9. Valcu, Adriana Mihaela, 2013. "Agricultural nonpoint source pollution and water quality trading: empirical analysis under imperfect cost information and measurement error," ISU General Staff Papers 201301010800004451, Iowa State University, Department of Economics.

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