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The Consequences of Cobenefits for the Efficient Design of Carbon Sequestration Programs

By Hongli Feng and Catherine L. Kling

Abstract

In this paper, we study the social efficiency of private carbon markets that include trading in agricultural soil carbon sequestration when there are significant cobenefits (positive environmental externalities) associated with the practices that sequester carbon. Likewise, we investigate the efficiency of government run conservation programs that are designed to promote a broad array of environmental attributes (both carbon sequestration and its cobenefits) for the supply of carbon. Finally, policy design and efficiency issues associated with the potential interplay between a private carbon market and a government conservation program are studied. Empirical analyses for an area that represents a significant potential source of carbon sequestration and its associated cobenefits illustrate the magnitude and complexity of these issues in real world policy design

Topics: average ranking of benefits, carbon markets, carbon sequestration, co-benefits, conservation programs, the Upper Mississippi River Basin, Agricultural and Resource Economics, Growth and Development, Industrial Organization, Regional Economics
Publisher: Iowa State University Digital Repository
Year: 2005
OAI identifier: oai:lib.dr.iastate.edu:econ_las_pubs-1546
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