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Harvesting the Greenhouse through Altered Land Management: Economic Potential and Market Design Challenges

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  • Schneider, Uwe A.
  • McCarl, Bruce A.
  • Woodward, Richard T.

Abstract

An Agricultural Sector Model is used to determine the economic potential of agricultural greenhouse gas emission reduction strategies within hypothetical emission mitigation markets. For a complete set of agricultural land management decisions, emissions and emission reductions of carbon dioxide, methane, and nitrous oxide are accounted for and simultaneously subjected to a wide range of carbon prices. The estimated, competitive emission abatement supply functions for major agricultural strategies are contrasted with two other commonly used measures of abatement potential: single strategy economic potential and technical potential. Specific agricultural production and market characteristics that further impact agriculture's mitigation potential are discussed.

Suggested Citation

  • Schneider, Uwe A. & McCarl, Bruce A. & Woodward, Richard T., 2001. "Harvesting the Greenhouse through Altered Land Management: Economic Potential and Market Design Challenges," Hebrew University of Jerusalem Archive 18538, Hebrew University of Jerusalem.
    • Handle: RePEc:ags:hebarc:18538
    DOI: 10.22004/ag.econ.18538
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    References listed on IDEAS

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    1. Julian M. Alston & Brian H. Hurd, 1990. "Some Neglected Social Costs of Government Spending in Farm Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(1), pages 149-156.
    2. Alig, Ralph J. & Adams, Darius M. & McCarl, Bruce A., 1998. "Impacts of Incorporating Land Exchanges Between Forestry and Agriculture in Sector Models," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 30(2), pages 389-401, December.
    3. Newell, Richard G. & Stavins, Robert N., 2000. "Climate Change and Forest Sinks: Factors Affecting the Costs of Carbon Sequestration," Journal of Environmental Economics and Management, Elsevier, vol. 40(3), pages 211-235, November.
    4. McCarl, Bruce A. & Schneider, Uwe A., 1999. "Curbing Greenhouse Gases: Agriculture's Role," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 14(01), pages 1-4.
    5. Pautsch, Gregory R. & Babcock, Bruce A., 1999. "Relative Efficiency of Sequestering Carbon in Agricultural Soils Through Second Best Instruments," Staff General Research Papers Archive 1887, Iowa State University, Department of Economics.
    6. Pautsch, Gregory R. & Babcock, Bruce A. & Hurley, Terrance M. & Campbell, Todd D., 1999. "Relative Efficiency Of Sequestering Carbon In Agricultural Soils Through Second Best Market-Based Instruments," 1999 Annual meeting, August 8-11, Nashville, TN 21669, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Ching-Cheng Chang & Bruce A. McCarl & James W. Mjelde & James W. Richardson, 1992. "Sectoral Implications of Farm Program Modifications," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 38-49.
    8. Stavins Robert N., 1995. "Transaction Costs and Tradeable Permits," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 133-148, September.
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