Publication Date:
2014-03-07
Description:
Within the European Union, it is agreed that watershed-based management of water quality problems is more efficient than centralised arrangements. In this study, a mechanism for allocating international funds to watershed authorities for nitrogen abatement in the presence of moral hazard is investigated. The results show that when there is a risk of climate change, the cost of moral hazard to the international funding agency can be high if there is a moderate likelihood of climate change and the watershed authority is guaranteed a high minimum compensation.
Keywords:
Q53 - Air Pollution
;
Water Pollution
;
Noise
;
Hazardous Waste
;
Solid Waste
;
Recycling, Q54 - Climate
;
Natural Disasters
;
Global Warming, Q58 - Government Policy
Print ISSN:
0165-1587
Electronic ISSN:
1464-3618
Topics:
Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition
,
Economics
