Contracting For Nonpoint-Source Pollution Abatement
This study presents an incentive scheme to control agricultural nonpoint-source pollution. The analysis is based on a principal-agent framework with two parties: farmers and a regulating authority. Our incentive scheme proposes collective penalties as a way to control pollution. Unlike previous analyses of incentive schemes to control agricultural pollution, we suggest nonindividual contracts between farmers and a regulating authority, where farmers can trade pollution abatement efforts. Findings show that the information requirement of a regulatory agency can be substantially reduced if contracts can be made nonindividual.
Volume (Year): 23 (1998)
Issue (Month): 01 (July)
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- Taylor, Michael L. & Adams, Richard M. & Miller, Stanley F., 1992. "Farm-Level Response To Agricultural Effluent Control Strategies: The Case Of The Willamette Valley," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(01), July.
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- John B. Braden & Gary V. Johnson & Aziz Bouzaher & David Miltz, 1989. "Optimal Spatial Management of Agricultural Pollution," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(2), pages 404-413.
- Chowdhury, Manzoor E. & Lacewell, Ronald D., 1996. "Implications Of Alternative Policies On Nitrate Contamination Of Groundwater," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(01), July.
- Smith, Rodney B.W. & Tomasi, Theodore D., 1995. "Transaction Costs And Agricultural Nonpoint-Source Water Pollution Control Policies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(02), December.
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