SELECTED PAPERS IN NATURAL RESOURCE ECONOMICS

A. OIL AND OTHER EXHAUSTIBLE RESOURCES

"Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to the World Oil Market," Journal of Political Economy, October l976. 

"Staving Off the Backstop: Dynamic Limit Pricing with a Kinked Demand Curve," in R.W. Pindyck (ed.), Advances in the Economics of Energy and Resources, JAI Press, Greenwich, Conn., l979. 

Imperfect Competition in the World Oil Market: A Computerized Nash-Cournot Model, D.C. Heath and Company, Lexington, Mass., l98l. 

"Imperfect Competition in the International Energy Market" Operations Research, Spring l982. 

"The Length of Optimal Extraction Programs When Depletion Affects Extraction Costs" (with T. Lewis and M. Eswaran), Journal of Economic Theory, December l983. 

"A Self-Enforcing Multilateral Agreement Among Oil-Importing Countries," Contemporary Policy Issues, March l984. 

"A Misguided Energy Program: Reshaping OECD's Oil-Sharing Plan" (with R. Smith), New York Times, Sunday Forum, November 4, l984. Supporting editorial appeared in New York Times, November l6, l984. 

"Optimal Capacity Expansion by Foresighted Extractors and Producers" (with S. Switzer), in Problemes de Ressources Naturelles et Theorie Economique edited by G. Gaudet and P. Lasserre, l986. 

"The Economics of Natural Resource Extraction: A Primer for Development Economists," World Bank Research Observer, February 1995. 

"Restricting the Trash Trade" (with Eduardo Ley and Molly Macauley), American Economic Review, May 2000.

"Intertemporal Depletion of Resource Sites by Spatially Distributed Users" (with G. Gaudet and M. Moreaux),  American Economic Review, September 2001.

"Spatially and Intertemporally Efficient Solid Waste Management," (with E. Ley and M. Macauley),  Journal of Environmental Economics and Management, March, 2002.

"Alternative Climate Policies and Intertemporal Emissions Leakage: Quantifying the Green Paradox" (with Carolyn Fischer), RFF Discussion Paper 12-16 (April, 2012)

"Limits to Limiting Greenhouse Gases: Intertemporal Leakage, Spatial Leakage and Negative Leakage" (with Carolyn Fischer), presented at the NBER Summer Institute on Workshop on Environmental and Energy Economics (July 23, 2013).

"The Hotelling Model with Multiple Demands" (with Gerard Gaudet), in Handbook on the Economics of Natural Resources edited by Robert Halvorsen and David Layton (Edward Elgar), forthcoming (2014).

"Quantifying Intertemporal Emissions Leakage" (with Carolyn Fischer) in Climate Policy and Non-Renewable Resources – The Green Paradox and Beyond, K. Pittel, F. van der Ploeg and C. Withagen (eds.), MIT Press, forthcoming (2014).

"Hotelling under Pressure" (with Soren Anderson and Ryan Kellogg), presented at the Occasional California Workshop on Environmental and Resource Economics in Santa Barbara (September 13 2013) and at NBER EEE/IO Conference (January 24, 2014), NBER Working Paper No 20280, summarized in NBER December Digest (2014).

"Modelling Nonrenewable Resources Use with Multiple Demands and Multiple Sources" (with Gerard Gaudet) solicited by Environmental and Resource Economics.

B. GOLD

"Market Anticipation of Government Policies and the Price of Gold" (with D. Henderson), Journal of Political Economy, August 1978---anthologized in Bhattacharya and Constanides', Classics in Finance, 1986.

"Ending the Hidden Subsidy to South Africa," Newsday, July 10, 1987 (reprinted in the Ann Arbor News, August 5, 1987). 

Testimony of March 23, 1988 before the House Foreign Affairs Committee (Subcommittee on Africa) on the economic consequences of sales from official gold stockpiles in Proposed Economic Sanctions Against South Africa, Hearings and Markup before the Committee on Foreign Affairs, 1988 (GPO).  

"The Benefits of Expediting Government Gold Sales: Simulation Results" (with Dale Henderson, John Irons, and Sebastian Thomas), Review of Financial Economics, 2007.

C. PRIVATE SPECULATION AND GOVERNMENT ATTEMPTS TO STABILIZE PRICES OF COMMODITIES AND EMISSIONS PERMITS

"Recurrence of a Modified Random Walk and Its Application to an Economic Model" (with R. Wenocur), SIAM Journal of Applied Mathematics, February l98l. 

"The Vulnerability of Price Stabilization Programs to Speculative Attack," Journal of Political Economy, February l983. Reprinted in The Economics of Information, edited by David Levine and Steve Lippman, 1995. 

"The Proposed Cap-and-Trade Program Under Continual Compliance: The Case of the Unbuttoned Collar" (with Makoto Hasegawa), RFF discussion paper 12-33, August 2012

"Cap-and-Trade Programs Under Delayed Compliance: Consequences of Interim Injection of Permits" (with Makoto Hasegawa), Journal of Public Economics, November, 2014.

"Dynamics of Pollution Permits" (with Makoto Hasegawa) Annual Review of Resource Economics (solicited survey to be submitted in November, 2014)

D. COMMON PROPERTY

"When is the Standard Analysis of Common Property Extraction under Free Access Correct?---A Game-Theoretic Justification for Non Game-Theoretic Analyses" (with R. Brooks, M. Murray, and J. Cotroneo), Journal of Political Economy, August 1999. 

"Private Storage of Common Property" (with G. Gaudet and M. Moreaux), Journal of Environmental Economics and Management, March 2002.

"Putting Free Riding to Work: A Partnership Solution to the Common Property Problem" (with Martin Heintzelman and Stephan Schott), Journal of Environmental Economics and Management, Vol. 57, no. 3, p. 309-320, May 2009.

"A Free Lunch in the Commons" (with Matt Kotchen), Journal of Environmental Economics and Management, May 2011.

"Systematic Departures from Self-Interested Behavior When Output is Shared in a Common Property Game," (with Joshua Cherry and Neslihan Uler), Experimental Economics, forthcoming (2014).

"Private Access Fees and Congestion: Is there a Role for Government After All?" (with Nathan Seegert), 2014.

E. MISCELLANEOUS

"Cartels that Vote: Agricultural Marketing Boards and Induced Voting Behavior" (with J. Cave), Public Regulation: New Perspectives on Institutions and Policies, edited by Elizabeth Bailey, and published by MIT Press, l987.

"Cartel Quotas under Majority Rule" (with J. Cave), American Economic Review, March 1995. Reprinted in Agricultural Markets: Mechanisms, Failures and Regulations edited by David Martimort, North Holland (July 1996). 

"Comment on `Eco-Labelling, Environment, and International Trade"  by
Kenzo Abe, Keisaku Higashida, and Jota Ishikawa," in Issues and Options for U.S.-Japan Trade Policies  (edited by R. Stern), UM Press, 2002. 

Cartels, coedited with Margaret Levenstein, Edward Elgar, February, 2007.

"The Welfare Cost of Unreliable Water Service" (with Lucas Davis, Brian Baisa, and William Wilcox)---Journal of Development Economics, Vol. 92, p. 1-12, May 2010.

"The Equilibrium Price Path of Timber in the Absence of Replanting: Can Hotelling Rule the Forests Too?" Resource and Energy Economics, November 2013.

"The Effects of Stochastic Oscillations in Property Rights Regimes on Forest Output in China" (with Xueying Yu), presented at the Occasional California Workshop on Environmental and Resource Economics in Santa Barbara (September 12 2013), RFF DP13-08REV, under revision for the Journal of Environmental Economics and Management.