Stephen P. Holland

I have been an Associate Professor since August 2009 and was an Assistant Professor from 2003-2009. **Education-- *Ph.D., Economics, University of Michigan, August 1999-- *M.S., Agricultural Economics, Iowa State University, August 1994-- *B.A., Mathematics, With distinction, University of Iowa, May 1989

There are 9 included publications by Stephen P. Holland :

TitleDateViewsBrief Description
Cadillac Desert Revisited: Property Rights, Public Policy, and Water Resource Depletion 2003 819 To alleviate Arizona‘s dependence on groundwater, the federal government subsidized construction of the Central Arizona Project (CAP) to import water from the Colorado River. In exchange for the subsidy, Arizona reformed its groundwater law to elimin...
Emissions Taxes Versus Intensity Standards: Second-Best Environmental Policies with Incomplete Regulation. 2012 138 The best emissions tax or emissions cap may be an inferior instrument under incomplete regulation (leakage). Without leakage, an intensity standard (regulating emissions per unit of output) is inferior due to an implicit output subsidy. This ineffici...
Extraction Capacity and the Optimal Order of Extraction 2003 308 The least-cost-first extraction rule for deposits with different extraction costs previously has been shown to be invalid in general equilibrium. This paper demonstrates that this rule also does not hold in partial equilibrium when extraction capacit...
Greenhouse Gas Reductions under Low Carbon Fuel Standards? 2009 226 A low carbon fuel standard (LCFS) seeks to reduce greenhouse gas emissions by limiting the carbon intensity of fuels. We show this decreases high carbon fuel production but increases low carbon fuel production, possibly increasing net carbon emiss...
Is Real-Time Pricing Green? The Environmental Impacts of Electricity Demand Variance 2008 300 Real-time pricing (RTP) of electricity would improve allocative efficiency and limit wholesalers’ market power. Conventional wisdom claims that RTP provides additional environmental benefits. This paper argues that RTP will reduce the variance, both ...
On the Efficiency of Competitive Electricity Markets With Time-Invariant Retail Prices 2005 298 Most customers in electricity markets do not face prices that change frequently to reflect changes in wholesale costs, known as real-time pricing (RTP). We show that not only does time-invariant pricing in competitive markets lead to prices and inves...
Privatization of Water-Resource Development 2006 303 This paper analyzes the inefficiencies from market power and return-flow externalities in private construction of a water project. The model pays special attention to increasing groundwater pumping costs, project set-up costs, limited project capacit...
Set-up costs and the existence of competitive equilibrium when extraction capacity is limited 2003 459 Although set-up costs are prevalent and substantial in natural resource extraction, it is known that a Walrasian competitive equilibrium cannot exist in simple extraction models with set-up costs. This paper demonstrates that this result is sensitive...
What Do Emissions Markets Deliver and to Whom? Evidence from Southern California's Nox Trading Program. 2012 263 An advantage of cap-and-trade programs over more prescriptive environmental regulation is that compliance flexibility and cost effectiveness can make more stringent emissions reductions politically feasible. However, when markets (versus regulator...