Articles in Journals

2012
Stavins, Robert N. “An Unambiguous Consequence of the Durban Climate Talks.” Review of Environment, Energy, and Economics (2012): 1-4. Publisher's VersionAbstract

One of the major outcomes of the Durban Climate Conference in 2011 was the 'Durban Platform for Enhanced Action' - a non-binding agreement to forge a new treaty by 2015 that will bring all countries under the same legal regime by 2020. This article will explain why the 'Durban Platform for Enhanced Action' has opened an important window in climate talks.

stavins_rev_env_energy_econ_march_2012.pdf

A-69

Aldy, Joseph E, and Robert N Stavins. “Using the Market to Address Climate Change: Insights from Theory & Experience.” Daedalus 141 (2012): 45–60. Publisher's VersionAbstract

Emissions of greenhouse gases linked with global climate change are affected by diverse aspects of economic activity, including individual consumption, business investment, and government spending. An effective climate policy will have to modify the decision calculus for these activities in the direction of more efficient generation and use of energy, lower carbon-intensity of energy, and a more carbon-lean economy. The only technically feasible and cost-effective approach to achieving this goal on a meaningful scale is carbon pricing: that is, market-based climate policies that place a shadow-price on carbon dioxide emissions. We examine alternative designs of three such instruments: carbon taxes, cap and trade, and clean energy standards. We note that the U.S. political response to possible market-based approaches to climate policy has been, and will continue to be, largely a function of issues and structural factors that transcend the scope of environmental and climate policy.

aldy_and_stavins_daedalus.pdf

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2011
Goulder, Lawrence H, and Robert N Stavins. “Challenges from State-Federal Interactions in Us Climate Change Policy.” American Economic Review 101 (2011): 253–257. Publisher's Version goulderstavinsaerpapersproceedings.pdf

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Hahn, Robert W, and Robert N Stavins. “The Effect of Allowance Allocations on Cap-and-Trade System Performance.” Journal of Law and Economics 54 (2011): S267–S294. Publisher's VersionAbstract

Abstract An implication of the Coase theorem is that under certain conditions, the market equilibrium in a cap-and-trade system will be cost-effective and independent of the initial allocation of tradable rights. That is, the overall cost of achieving a given aggregate emission reduction will be minimized, and the final allocation of permits will be independent of the initial allocation. We call this the independence property. This property is important because it means that the government can establish the overall pollution reduction goal for a cap-and-trade system by setting the cap and leaving it up to the legislature to construct a constituency in support of the program by allocating the allowances to various interests without affecting either the environmental performance of the system or its aggregate social costs. We examine the conditions under which the independence property is likely to hold—both in theory and in practice.

hahn_stavins_in_journal_of_law_economics.pdf

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Stavins, Robert N. “The Problem of the Commons: Still Unsettled After 100 Years.” American Economic Review 101 (2011): 81–108. Publisher's Version aer_final_version_stavins_feb_2011.pdf

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Stavins, Robert N. “Qué sucedió (y por qué)? (What happened and why? An assessment of the Cancun agreements).” Foreign Affairs Latinoamérica 11 (2011): 42–49. Publisher's Version stavins_article_foreign_affairs_march_2011.pdf

A-64

Cross, Robin, Andrew J Plantinga, and Robert N Stavins. “The Value of Terroir: Hedonic Estimation of Vineyard Sale Prices.” Journal of Wine Economics 6 (2011): 1–14. 6_wineeconomics_vol_6_1_cross_plantinga_stavins.pdf

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Cross, Robin, Andrew J Plantinga, and Robert N Stavins. “What Is the Value of Terroir?The American Economic Review 101 (2011): 152–156. Publisher's Version crossplantingastavinsaerpapersproceedings.pdf

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2010
Reinhardt, Forest L, and Robert N Stavins. “Corporate Social Responsibility, Business Strategy, and the Environment.” Oxford Review of Economic Policy 26 (2010): 164 –181. Publisher's VersionAbstract

We examine the concept of firms sacrificing profits in the social interest within the environmental realm, with particular focus on the case of the United States by addressing four key questions. May they do so within the scope of their fiduciary responsibilities to their shareholders? Can they do so on a sustainable basis, or will the forces of a competitive marketplace render such efforts and their impacts transient at best? Do firms, in fact, frequently or at least sometimes behave this way, reducing their earnings by voluntarily engaging in environmental stewardship? Should firms carry out such profit-sacrificing activities (i.e. is this an efficient use of social resources)? We address these questions through the lens of economics, including insights from legal and business scholarship.

reinhardt_stavins_in_oxford_review_2010.pdf

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Stavins, Robert N. “Storing Carbon in Wood: A Cheaper Way to Slow Climate Change?The Milken Institute Review 12 (2010): 18–25. Publisher's Version milken_institute_review_on_carbon_sequestration.pdf

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Stavins, Robert N, and Robert C Stowe. “What Hath Copenhagen Wrought? A Preliminary Assessment.” Environment 52 (2010): 8–14. Publisher's Version stavins_stowe_environment.pdf

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2009
Olmstead, Sheila M, and Robert N Stavins. “Comparing Price and Nonprice Approaches to Urban Water Conservation.” Water Resources Research 45 (2009): 10. Publisher's Version olmstead_stavins_water_resources_research.pdf

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Jaffe, Judson, Matthew Ranson, and Robert N Stavins. “Linking Tradable Permit Systems: A Key Element of Emerging International Climate Policy Architecture.” Ecology Law Quarterly 36 (2009): 789–808. Publisher's Version jaffe-ranson-stavins-elq.pdf

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2008
Stavins, Robert N. “Addressing Climate Change with a Comprehensive Us Cap-and-Trade System.” Oxford Review of Economic Policy 24 (2008): 298 –321. Publisher's VersionAbstract

There is growing impetus for a domestic US climate policy that can provide meaningful reductions in emissions of carbon dioxide (CO2) and other greenhouse gases. I describe and analyse an up-stream, economy-wide CO2 cap-and-trade system which implements a gradual trajectory of emissions reductions (with inclusion over time of non-CO2 greenhouse gases), and includes mechanisms to reduce cost uncertainty. Initially, half of the allowances are allocated through auction and half through free distribution, with the share being auctioned gradually increasing to 100 per cent over 25 years. The system provides for linkage with emission-reduction credit projects in other countries, harmonization over time with effective cap-and-trade systems in other countries and regions, and appropriate linkage with actions taken in other countries, in order to establish a level playing field among domestically produced and imported products.

stavins_article_on_us_cap-and-trade_for_oxford_review.pdf

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Aldy, Joseph E, and Robert N Stavins. “Climate Policy Architectures for the Post-Kyoto World.” Environment 50 (2008): 6–17. Publisher's Version aldy-stavins-environment-1.pdf

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Reinhardt, Forest L, Robert N Stavins, and Richard HK Vietor. “Corporate Social Responsibility Through an Economic Lens.” Review of Environmental Economics and Policy 2 (2008): 219–239. Publisher's VersionAbstract

Business leaders, government officials, and academics are focusing considerable attention on the concept of “corporate social responsibility” (CSR), particularly in the realm of environmental protection. Beyond complete compliance with environmental regulations, do firms have additional moral or social responsibilities to commit resources to environmental protection? How should we think about the notion of firms sacrificing profits in the social interest? May they do so within the scope of their fiduciary responsibilities to their shareholders? Can they do so on a sustainable basis, or will the forces of a competitive marketplace render such efforts and their impacts transient at best? Do firms, in fact, frequently or at least sometimes behave this way, reducing their earnings by voluntarily engaging in environmental stewardship? And finally, should firms carry out such profit-sacrificing activities (i.e., is this an efficient use of social resources)? We address these questions through the lens of economics, including insights from legal analysis and business scholarship.

reinhardt_stavins_vietor_reep.pdf

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Stavins, Robert N. “A Meaningful U.s. Cap-and-Trade System to Address Climate Change.” Harvard Environmental Law Review 32 (2008): 293–371. Publisher's Version helr_cap_trade_stavins.pdf

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Lubowski, Ruben N, Andrew J Plantinga, and Robert N Stavins. “What Drives Land-Use Change in the United States? A National Analysis of Landowner Decisions.” Land Economics 84 (2008): 529–550. Publisher's VersionAbstract

Land-use changes involve important economic and environmental effects with implications for international trade, global climate change, wildlife, and other policy issues. We use an econometric model to identify factors driving land-use change in the United States between 1982 and 1997. We quantify the effects of net returns to alternative land uses on private landowners' decisions to allocate land among six major uses, drawing on detailed micro-data on land use and land quality that are comprehensive of the contiguous United States. This analysis provides the first evidence of the relative historical importance of markets and federal farm policies affecting land-use changes nationally. [ABSTRACT FROM AUTHOR] Copyright of Land Economics is the property of University of Wisconsin Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

whatdriveslandusechange.pdf

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2007
Stavins, Robert N. “Book Review: Jancis Robinson, Tasting Pleasures – Confessions of a Wine Lover.” Journal of Wine Economics 2 (2007): 106–108. Publisher's Version tasting_pleasure_by_jancis_robinson_review_by_stavins_proof.pdf

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Bennear, Lori Snyder, and Robert N Stavins. “Second-Best Theory and the Use of Multiple Policy Instruments.” Environmental and Resource Economics 37 (2007): 111–129. bennear_stavins_for_ere_revisied.pdf

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