Optimal Afforestation Contracts with Asymmetric Information on Private Environmental Benefits

We investigate the problem of subsidising afforestation when private information exists with respect to the level of private utility derived from the project. We develop a simple model that allows for an intelligent design of contracts when information is asymmetric. The model involves the Principal and two groups of agents (landowners): a green' group deriving high private utility from the projects and a conventional' group deriving lower utility. Afforestation projects may be produced in different environmental quality, and we distinguish between two cases, a high quality and a low quality project. We find that the optimal set of contracts under asymmetric information involves two different contracts. One in which green landowners are somewhat overcompensated for projects of high quality, and one where conventional landowners are offered contracts including lower quality projects, compared to the symmetric case, but with compensation equal to his indifference payment. It is the ability to reduce quality requirements along with subsidies offered that allows for revelation of the private information. Finally, we discus how the results obtained may be used in the implementation of incentive schemes

I Will Bear Witness: A Diary of the Nazi Years: 1933-1941

The publication of Victor Klemperer\u27s secret diaries brings to light one of the most extraordinary documents of the Nazi period. In its cool, lucid style and power of observation, said The New York Times, it is the best written, most evocative, most observant record of daily life in the Third Reich. I Will Bear Witness is a work of literature as well as a revelation of the day-by-day horror of the Nazi years.https://scholar.dominican.edu/cynthia-stokes-brown-books-american-history/1070/thumbnail.jp

I Will Bear Witness: A Diary of the Nazi Years: 1942-1945

Destined to take its place alongside The Diary of Anne Frank and Elie Wiesel\u27s Night as one of the great classics of the Holocaust, I Will Bear Witness is a timeless work of literature, the most eloquent and acute testament to have emerged from Hitler\u27s Germany. Volume Two begins in 1942, the year the Final Solution was formally proposed, and carries us through to the Allied bombing of Dresden and Germany\u27s defeat.https://scholar.dominican.edu/cynthia-stokes-brown-books-american-history/1071/thumbnail.jp