William Shobe

William Shobe
University of Virginia | UVa · Frank Batten School of Leadership and Public Policy

JD; Ph.D.

About

49
Publications
7,187
Reads
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661
Citations
Introduction
Current research interests include: environmental federalism, emission market design, negative emission technologies and grid decarbonization
Additional affiliations
August 2004 - present
University of Virginia
Position
  • Professor of Public Policy
July 1995 - August 2004
Virginia Department of Planning and Budget
Position
  • Associate Director for Economic and Regulatory Analysis
Education
September 1982 - May 1988
September 1977 - May 1980
Lewis & Clark Law School
Field of study
  • Law

Publications

Publications (49)
Article
Environmental policy with uncertainty is often posed as a choice between price and quantity instruments. Adding flexibility to fixed policy instruments can improve outcomes. Roberts and Spence noted the efficiency advantages of matching emissions allowances supply to the marginal damage schedule. We propose an implementable approach to making that...
Article
Full-text available
Governments often impose price floors to protect sellers against low prices in markets characterized by uncertainty. Hard floors arise in grain and currency markets whenever the government acquisitions at the support price are unconstrained. Soft floors arise whenever such acquisitions are subject to a binding constraint. An important special case...
Article
Full-text available
The development of the shared socioeconomic pathways (SSPs) and associated integrated assessment modeling exercises did not include direct air capture with carbon storage (DACCS) in their scenarios. Recent progress in DACCS commercialization suggests it could be a viable means of removing CO2 from the atmosphere with far lower land intensity than b...
Article
Full-text available
Although a wide body of scholarly research recognizes multiple kinds of values for water, water security assessments typically employ just some of them. In the present article, we integrate value scenarios into a planetary water security model to incorporate multiple water-related social values and illustrate trade-offs among them. Specifically, we...
Article
Full-text available
We examine the effects of negative emission technologies availability on fossil fuel-based electricity generating assets under deep decarbonization trajectories. Our study focuses on potential premature retirements (stranding) and committed emissions of existing power plants globally and the effects of deploying direct air carbon capture and biomas...
Article
Full-text available
China’s pledge to reach carbon neutrality before 2060 is an ambitious goal and could provide the world with much-needed leadership on how to limit warming to +1.5°C warming above preindustrial levels by the end of the century. But the pathways that would achieve net zero by 2060 are still unclear, including the role of negative emissions technologi...
Preprint
Full-text available
We examine the effects of negative emission technologies availability on fossil fuel-based electricity generating assets under deep decarbonization trajectories. Our study focuses on potential premature retirements (stranding) and committed emissions of existing power plants globally and the effects of deploying direct air carbon capture and biomas...
Preprint
Full-text available
China's pledge to reach carbon neutrality by 2060 is ambitious and could provide the world with much-needed leadership on how to achieve a +1.5 degC warming target above pre-industrial levels by the end of the century. But the pathways that would achieve net zero by 2060 are still unclear including the dependence on negative emissions technologies....
Article
Spillovers among jurisdictions are ubiquitous and likely to increase with increasing population and consumption, so the centralization or decentralization of environmental governance is of pressing concern in a world of tightly linked socio-ecological systems. Spillovers play a key role in federalism analysis because they tend to reduce benefits fr...
Article
Full-text available
Scenarios for meeting ambitious climate targets rely on large-scale deployment of negative emissions technologies (NETs), including direct air capture (DAC). However, the tradeoffs between food, water and energy created by deploying different NETs are unclear. Here we show that DAC could provide up to 3 GtCO2 yr−1 of negative emissions by 2035—equi...
Preprint
Full-text available
This paper evaluates instrument design and the evolution of environmental pricing in this sequential policy environment. Quantity “cap” instruments are more often used in practice. Recently, however, automatically adjusting emissions allowance supply schedules have been emerging in existing trading programs. We propose a conceptual framework for a...
Article
Full-text available
Climate change mitigation strategies informed by Integrated Assessment Models (IAMs) increasingly rely on major deployments of negative emissions technologies (NETs) to achieve global climate targets. Although NETs can strongly complement emissions mitigation efforts, this dependence on the presumed future ability to deploy NETs at scale raises que...
Article
We report on laboratory experiments, with financially motivated participants, comparing alternative proposals for managing the time path of emission allowance prices in the face of random firm-specific and market-level structural shocks. Market outcome measures such as social surplus and price variability are improved by the use of a price collar (...
Article
Forests can affect environmental conditions in ways that enhance their survival. This effect may contribute to a positive feedback whereby deforestation could degrade environmental conditions and inhibit forest re-establishment. Sudden changes in forest functioning can be attributed to the existence of multiple stable states with one high and one l...
Article
We report on laboratory experiments, with financially motivated participants, comparing alternative proposals for managing the time path of emission allowance prices in the face of random firm-specific and market-level structural shocks. Market outcome measures such as social surplus and price variability are improved by the use of a price collar (...
Article
We use a set of economic experiments to test the effects of some novel features of California's new controls on greenhouse gas emissions. The California cap and trade scheme imposes limits on allowance ownership, uses a tiered price containment reserve sale, and settles allowance auctions based on the lowest accepted bid. We examine the effects of...
Article
Full-text available
We use a set of economic experiments to test the effects of two key features of California’s new program for limiting greenhouse gas emissions. The cap & trade scheme included in the program includes two novel features, limits on allowance ownership (or ‘holding limits’) and a tiered price containment reserve sale. These program features are linked...
Technical Report
Full-text available
We use a set of economic experiments to test the effects of two key features of California’s new program for limiting greenhouse gas emissions. The cap & trade scheme included in the program includes two novel features, limits on allowance ownership (or ‘holding limits’) and a tiered price containment reserve sale. These program features are linked...
Article
Climate change policy analysis has focused almost exclusively on national policy and even on harmonizing climate policies across countries, implicitly assuming that harmonization of climate policies at the subnational level would be mandated or guaranteed. We argue that the design and implementation of climate policy in a federal union will diverge...
Conference Paper
Southwest Virginia (SWVA), a rural, low-income region of Virginia, has among the poorest oral health outcomes in the country. One option that has been proposed to improve oral health is to open a dental school in the region. To examine the effect of a dental school we conduct an oral health needs assessment, looking at both dental demand and supply...
Article
Full-text available
This study examines the health impact of a proposed dental school in Southwest Virginia. In setting the stage for an evaluation of the dental school impacts, this study first assesses the economic, social, and health context for the Southwest Virginia region. It also presents a summary of research regarding the causes of differences in oral health,...
Article
The direct sale of emissions allowances by auction is an emerging characteristic of cap-and-trade programs. This study is motivated by the observation that all of the major implementations of cap-andtrade regulations for the control of air pollution have started with a generous allocation of allowances relative to recent emissions history, a situat...
Article
Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common-pool resource management programs. These auctions create thick markets that can provide important information about changes in current market conditions. This paper reports a laboratory experiment in which half of the bidders experienced u...
Article
The direct sale of emission allowances by auction is an emerging characteristic of cap-and-trade programs. This study is motivated by the observation that all of the major implementations of cap-and-trade regulations for the control of air pollution have started with a generous allocation of allowances relative to recent emissions history, a situat...
Article
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, whereas permits are assigned for free under grandfathering. In theory, trading in the spot market should erase inefficiencies due to initial mi...
Article
Full-text available
This study examines the effect of the public higher education sector on Virginia’s economy. The study consists of three distinct parts. The first part consists of a full accounting of the current flow of economic activity in Virginia that can be directly tied to the expenditures and activities of publicly supported institutions of higher education....
Article
Environmental markets have several institutional features that provide a new context for the use of auctions and that have not been studied previously. This paper reports on laboratory experiments testing three auction forms — uniform and discriminatory price sealed-bid auctions and an ascending clock auction. We test the ability of subjects to tac...
Article
We report on the design and testing of three auction mechanisms to maximize revenue and efficiency in the sale of two vintages of nitrous oxide emission allowances by the Commonwealth of Virginia in 2004. The three mechanisms considered were a combinatorial sealed bid (CSB) auction, a sequential English clock (SEC) auction, and a combinatorial Engl...
Article
Environmental markets have several institutional features that provide a new context for the use of auctions and that have not been studied previously. This paper reports on laboratory experiments testing three auction forms — niform and discriminatory price sealed-bid auctions and an ascending clock auction. We test the ability of subjects to taci...
Article
On March 11, 2008 the University of Virginia Faculty Senate voted in favor of having the university take steps to make it climate neutral. This paper examines whether such a policy is feasible, and further whether pursuing a policy of climate neutrality is likely the best way to spend university resources, if the goal is to reduce the university’s...
Article
Full-text available
This report develops recommendations on the most appropriate design for auctions of Regional Greenhouse Gas Initiative (RGGI) CO2 allowances. The research was conducted in two phases. Phase 1 included the initial preparation of an annotated bibliography and a round of experiments to investigate the performance of a number of auction types considere...
Article
Full-text available
The University of Virginia, by providing world-class educational opportunities to citizens of the state, has played an important role in the lives of Virginians since its founding in 1819. The University enhances economic opportunity and provides a steady stream of citizens prepared to assume positions of leadership in business and in public servic...
Article
Full-text available
This paper examines some of the implications of local policy-making with regard to the global issue of climate change. First, we assess what one may expect when small open economies, such as states, implement policies designed to affect global pollutants. Next, we briefly analyze some of the legal constraints on state actions. We then catalog some...
Article
Advances in communications technology and the impetus for deregulation have stimulated the development of new types of markets, some of which are implemented by public agencies on very large scales, e.g. national broadcasting spectrum auctions. In other cases, policy issues arise from the consideration of an economic reorganization of an existing m...
Article
Full-text available
Emission and effluent trading programs are increasingly being advocated for the nation's air and water quality programs. However, important distinctions must be drawn between credit and allowance trading, based on how much decision-making authority is transferred from regulators to dischargers. Credit trading programs are extensions of command-and-...
Article
Full-text available
This paper examines a newly available six-year panel of tax return data to see what light it sheds on the tax elasticity of capital gains realizations. Panel data are a particularly valuable source of evidence for this question, because they can help to distinguish short-run from long-run effects and because they track the behavior of individuals w...
Article
Full-text available
Article provides a critique of 1978 U.S. Supreme Court decision Vermont Yankee Nuclear Power Corp. v. Natural Resources Defense Council, Inc.
Article
This paper describes the nature of inter-jurisdictional relations as they may exist under a federal cap-and-trade program and provides background on the current climate-related activities by state and local governments. State and local governments are uniquely positioned to implement many aspects of an overall climate strategy, and an important que...
Article
Abstract Environmental markets have several institutional features that provide a new context for the use of auctions and which have not been studied previously. This paper reportson laboratory experiments testing three auction forms – uniform and discriminatory price sealed bid auctions and an ascending clock auction. We test the ability of subjec...
Article
Thesis (Ph. D.)--University of Minnesota, 1991. Includes bibliographical references (leaves 59-62). Photocopy.

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