Erratum to: Environ Resource Econ DOI 10.1007/s10640-014-9762-3

Equation 2 in the original paper was incomplete. It should have read

$$\begin{aligned} C\left( \mu ,\tau ,p_E ,p_L ,p_K \right) =\frac{1}{1+\mu }\left( \theta _E \left( p_E \left( 1+\tau \right) \right) ^{1-\sigma }+\left( 1-\theta _E \right) \left( p_K^\vartheta p_L^{1-\vartheta } \right) ^{1-\sigma }\right) ^{\frac{1}{1-\sigma }} \end{aligned}$$
(2)