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Testing Theories of Agency Behavior: Evidence from Hydropower Project Relicensing Decisions of the Federal Energy Regulatory Commission

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  • Michael R. Moore
  • Elizabeth B. Maclin
  • David W. Kershner

Abstract

Theories of agency behavior are examined via an application to hydropower project relicensing by the Federal Energy Regulatory Commission (FERC). In the relicensing of each project, fish and wildlife agencies submit recommendations to FERC. FERC then enters a twostage deliberation process for each recommendation. Econometric analysis of these decisions covers 933 recommendations made for 72 projects relicensed during 1980± 96. A new law (the Electric Consumers Protection Act) substantially altered FERC’ s decisions, while a new administration (the Clinton administration) exerted a mixed effect. Both events influenced the number of recommendations per project made by the fish and wildlife agencies.

Suggested Citation

  • Michael R. Moore & Elizabeth B. Maclin & David W. Kershner, 2001. "Testing Theories of Agency Behavior: Evidence from Hydropower Project Relicensing Decisions of the Federal Energy Regulatory Commission," Land Economics, University of Wisconsin Press, vol. 77(3), pages 423-442.
    • Handle: RePEc:uwp:landec:v:77:y:2001:i:3:p:423-442
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    References listed on IDEAS

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    Cited by:

    1. Gowan, Charles & Stephenson, Kurt & Shabman, Leonard, 2006. "The role of ecosystem valuation in environmental decision making: Hydropower relicensing and dam removal on the Elwha River," Ecological Economics, Elsevier, vol. 56(4), pages 508-523, April.
    2. Stephenson, Kurt & Shabman, Leonard A., 2008. "The Contribution of Nonmarket Valuation to Policy: The Case of Nonfederal Hydropower Relicensing," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6823, Southern Agricultural Economics Association.
    3. Lopamudra Chakraborti & Kenneth E. McConnell, 2012. "Does Ambient Water Quality Affect the Stringency of Regulations? Plant-Level Evidence of the Clean Water Act," Land Economics, University of Wisconsin Press, vol. 88(3), pages 518-535.
    4. Stephenson, Kurt & Shabman, Leonard, 2019. "Does ecosystem valuation contribute to ecosystem decision making?: Evidence from hydropower licensing," Ecological Economics, Elsevier, vol. 163(C), pages 1-8.

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    JEL classification:

    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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