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An Optimal Control Approach To Water Quality Trading: Cost-Effective Point/Nonpoint Management In A Watershed Framework

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  • Zhao, Xiaobing
  • Fletcher, Jerald J.
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    Abstract

    This study reflects a growing interest in water quality trading involving both point and nonpoint sources in a watershed framework. An empirical spatial-temporal optimal control model is presented and solved to assess the scope and implications of point/nonpoint trading. Results indicate significant economic gains to broader based interpretations of trading rules.

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    File URL: http://purl.umn.edu/20195
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    Bibliographic Info

    Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2004 Annual meeting, August 1-4, Denver, CO with number 20195.

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    Date of creation: 2004
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    Handle: RePEc:ags:aaea04:20195

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    Keywords: Resource /Energy Economics and Policy;

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Makris, Miltiadis, 2001. "Necessary conditions for infinite-horizon discounted two-stage optimal control problems," Journal of Economic Dynamics and Control, Elsevier, vol. 25(12), pages 1935-1950, December.
    2. Ali, Md Kamar & Fletcher, Jerald J. & Phipps, Tim T., 2002. "Stream Water Quality Management: A Stochastic Mixed-Integer Programming Model," 2002 Annual meeting, July 28-31, Long Beach, CA 19811, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. GAUDET, Gérard & MOREAUX, Michel & SALANT, Stephen W., 1997. "Intertemporal and Spatial Depletion of Landfills," Cahiers de recherche 9718, Universite de Montreal, Departement de sciences economiques.
    4. Richard D. Horan, 2001. "Differences in Social and Public Risk Perceptions and Conflicting Impacts on Point/Nonpoint Trading Ratios," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 934-941.
    5. Richard T. Woodward & Ronald A. Kaiser, 2002. "Market Structures for U.S. Water Quality Trading," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 24(2), pages 366-383.
    6. Greiner, Romy & Cacho, Oscar, 2001. "On the efficient use of a catchment's land and water resources: dryland salinization in Australia," Ecological Economics, Elsevier, vol. 38(3), pages 441-458, September.
    7. Kurt Stephenson & Patricia Norris & Leonard Shabman, 1998. "Watershed-Based Effluent Trading: The Nonpoint Source Challenge," Contemporary Economic Policy, Western Economic Association International, vol. 16(4), pages 412-421, October.
    8. Pace, R. Kelley & Barry, Ronald & Gilley, Otis W. & Sirmans, C. F., 2000. "A method for spatial-temporal forecasting with an application to real estate prices," International Journal of Forecasting, Elsevier, vol. 16(2), pages 229-246.
    9. Mary Riddel, 2001. "A Dynamic Approach to Estimating Hedonic Prices for Environmental Goods: An Application to Open Space Purchase," Land Economics, University of Wisconsin Press, vol. 77(4), pages 494-512.
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