On Retail Gasoline Pricing Websites: Potential Sample Selection Biases and Their Implications for Empirical Research

Station-specific retail gasoline prices are publicly available on websites such as GasBuddy.com, but the potential sample selection biases that might exist in these data have not previously been examined. To this end, two sets of prices were compiled for 27 stations in Guelph, Ontario, in late 2005: an unbalanced panel collected every 12 h from OntarioGasPrices.com, and a balanced panel collected eight times per day by direct observation. It appears that “Internet data” can be reliable for answering questions that require daily, company-operated, major brand station prices, but not if one needs very high frequency data or prices for certain types of independent stations.      

The Impact of the EU ETS on Prices,Profits and Emissions in the Power Sector: Simulation Results with the COMPETES EU20 Model

This paper analyses the impact of the EU Emissions Trading Scheme (ETS) on electricity prices, in particular on wholesale power markets across the EU. To study this impact, this paper discusses the major results of a bottom-up modelling analysis of the implications of emissions trading for the performance of the wholesale power market in 20 European countries. The analyses show that a significant part of the costs of (freely allocated) CO₂ emission allowances is passed through to power prices, resulting in higher electricity prices for consumers and additional (‘windfall’) profits for power producers, even in cases of full auctioning. In addition, they show that the ETS-induced increases in power prices depend not only on the level of CO₂ prices but also on the structure of the power market, i.e., the incidence of market power, and the price responsiveness of power demand. Finally, the analyses show that the internalization and pass-through of carbon costs are crucial elements in a policy regime to reduce CO₂ emissions by both changing the mix of power generation technologies and lowering total electricity demand.     

Multi-level Governance and Global Climate Change in East Asia

Climate change is an issue that requires integrated action at multiple levels of government and within the spheres of politics, economics, and society. National, regional, and local governments have both distinct and complementary roles in developing climate mitigation and adaptation strategies. Compared with the attention that has been given to international and national activities in East Asia, relatively limited attention has been paid to the role of urban and regional governments in combating global climate change. Cities and provinces are initiating their own climate action plans, positioning themselves as environmental model cities, and joining local, national, and international networks for climate change. This article examines urban and prefectural climate policies in China, Japan, and South Korea within a multilevel governance framework.     

Product attributes,consumer benefits and public approval of genetically modified foods

The use of biotechnology in food production has generated considerable debate involving the benefits and risks associated with its use. Consumer acceptance of genetically modified foods is a critical factor that will affect the future of this technology. Using data from a national survey, this study examines how public acceptance of food biotechnology is related to consumers’ socioeconomic and value attributes as well as the benefits associated with the use of this technology. Empirical results suggest that consumer acceptance of food biotechnology increases considerably when the use of this technology brings tangible benefits for the public. Consumers with different socioeconomic and demographic attributes have diverging views of food biotechnology only when its use brings specific benefits to them. When the use of genetic technology confers no additional benefit, public attitudes towards genetically modified foods are driven primarily by their scientific knowledge, views of scientists and corporations associated with biotechnology as well as public trust and confidence in government.     

Land, Factor Markets, and Inequality in Rural China: Historical Evidence

Drawing on a unique household-level data set from northeast China in the 1930s, this paper explores the connections between the distribution of land, factor markets, and income distribution. We test whether patterns of income inequality were consistent with the predictions of a market-clearing, neoclassical model linking land and labor endowments, through factor markets to household income. While the model is consistent with some features in the data, we reject the hypothesis that factor markets worked perfectly and find support for the historian's intuition regarding the disproportionate impact of land inequality in the countryside. Nevertheless, where markets were more active, especially land rental markets, excess returns to land were diminished and inequality was lowest. This suggests that factor market development played a positive role in reducing inequality in rural China.     

A cost‐benefit analysis of R&D tax incentives

Abstract.  Although technical knowledge generates spillover benefits, production of technical knowledge creates congestion externalities; thus, private R&D investment could be inefficient. A computable general equilibrium model is used to rank tax incentives by their effects on research effort and measure welfare effects. Five results stand out: R&D tax credits produce relatively large increases in research effort and welfare. Lower corporate income tax rates and ITCs for downstream users of high‐tech production inputs rank second. Revenue losses from lower personal income tax rates can produce welfare losses. Ironically, ITCs for upstream producers of innovative inputs are ineffective. Incremental R&D credits dominate comprehensive credits. JEL Classification: E62, H21, O38