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The economics of a stock pollutant: Aldicarb on Long Island

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  • Jon Conrad
  • Lars Olson

Abstract

This paper develops a dynamic model of groundwater contamination by the pesticide aldicarb on eastern Long Island. We estimate what the likely concentration would have been under static profit maximization and the marginal damage coefficient implied by the New York State health standard of 7 ppb. Based on our model, it appears that the concentration of aldicarb will not decline below 7 ppb until 1996 and that the shadow price of the current health standard is about $475,000 per year. Copyright Kluwer Academic Publishers 1992

Suggested Citation

  • Jon Conrad & Lars Olson, 1992. "The economics of a stock pollutant: Aldicarb on Long Island," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 2(3), pages 245-258, May.
  • Handle: RePEc:kap:enreec:v:2:y:1992:i:3:p:245-258
    DOI: 10.1007/BF00376199
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    References listed on IDEAS

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    1. Shechter, Mordechai, 1985. "An anatomy of a groundwater contamination episode," Journal of Environmental Economics and Management, Elsevier, vol. 12(1), pages 72-88, March.
    2. Vernon L. Smith, 1972. "Dynamics of Waste Accumulation: Disposal versus Recycling," The Quarterly Journal of Economics, Oxford University Press, vol. 86(4), pages 600-616.
    3. Edwards, Steven F., 1988. "Option prices for groundwater protection," Journal of Environmental Economics and Management, Elsevier, vol. 15(4), pages 475-487, December.
    4. Lichtenberg, Erik & Zilberman, David & Bogen, Kenneth T., 1989. "Regulating environmental health risks under uncertainty: Groundwater contamination in California," Journal of Environmental Economics and Management, Elsevier, vol. 17(1), pages 22-34, July.
    5. Glen D. Anderson & James J. Opaluch & W. Michael Sullivan, 1985. "Nonpoint Agricultural Pollution: Pesticide Contamination of Groundwater Supplies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(5), pages 1238-1243.
    6. Keeler, Emmett & Spence, Michael & Zeckhauser, Richard, 1972. "The optimal control of pollution," Journal of Economic Theory, Elsevier, vol. 4(1), pages 19-34, February.
    7. Kitabatake, Yoshifusa, 1989. "Optimal exploitation and enhancement of environmental resources," Journal of Environmental Economics and Management, Elsevier, vol. 16(3), pages 224-241, May.
    8. Spence, A Michael & Starrett, David, 1975. "Most Rapid Approach Paths in Accumulation Problems," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 388-403, June.
    9. Robert L. Raucher, 1986. "The Benefits and Costs of Policies Related to Groundwater Contamination," Land Economics, University of Wisconsin Press, vol. 62(1), pages 33-45.
    10. C. G. Plourde, 1972. "A Model of Waste Accumulation and Disposal," Canadian Journal of Economics, Canadian Economics Association, vol. 5(1), pages 119-125, February.
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    Citations

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    Cited by:

    1. Conrad, Klaus, 2001. "The Optimal Path of Energy and CO2 Taxes for Intertemporal Resource Allocation," Discussion Papers 602, Institut fuer Volkswirtschaftslehre und Statistik, Abteilung fuer Volkswirtschaftslehre.
    2. Nkonya, Ephraim M. & Featherstone, Allen M., 2000. "Determining Socially Optimal Nitrogen Application Rates Using A Delayed Response Model: The Case Of Irrigated Corn In Western Kansas," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 25(2), pages 1-15, December.
    3. Easter, K. William & Yadav, Satya N., 1995. "OPTIMUM NITROGEN USE UNDER GROUNDWATER POLLUTION CONSTRAINTS; Proceedings of the 4th Minnesota Padova Conference on Food, Agriculture, and the Environment, September 4-10, 1994, Wayzata, MN," Working Papers 14474, University of Minnesota, Center for International Food and Agricultural Policy.
    4. Michael Toman & Karen Palmer, 1997. "How should an accumulative toxic substance be banned?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 9(1), pages 83-102, January.
    5. Knapp, Keith C. & Franklin, Bradley, 2012. "Sustainability Economics of Groundwater Usage and Management," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124959, Agricultural and Applied Economics Association.
    6. Knapp, Keith C. & Baerenklau, Kenneth A., 2006. "Ground Water Quantity and Quality Management: Agricultural Production and Aquifer Salinization over Long Time Scales," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(3), pages 1-26, December.
    7. Toman, Michael A. & Withagen, Cees, 2000. "Accumulative pollution, "clean technology," and policy design," Resource and Energy Economics, Elsevier, vol. 22(4), pages 367-384, October.
    8. Gopalakrishnan, Sathya & Liu, Hongxing, 2018. "Land-lake Dynamics: Are there Welfare Gains from Targeted Policies in a Heterogeneous Landscape," 2018 Annual Meeting, August 5-7, Washington, D.C. 274310, Agricultural and Applied Economics Association.
    9. Olli Tahvonen, 1995. "Dynamics of pollution control when damage is sensitive to the rate of pollution accumulation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 5(1), pages 9-27, January.
    10. Poe, Gregory, 1997. ""Maximizing the Environmental Benefits per Dollar Expended" An Economic Interpretation and Review of Agricultural Environmental Benefits and Costs," EB Series 186405, Cornell University, Department of Applied Economics and Management.

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