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economic theory has restricted to either of them when submitting conventional policy instruments to a comparative analysis. The …
Persistent link: https://www.econbiz.de/10003725693
, hitherto environmental economic theory has restricted itself to either of them when submitting conventional policy instruments …
Persistent link: https://www.econbiz.de/10003725696
We study the optimal quota sequence, in a stationary environment, where a regulator and a non-strategic firm have asymmetric information. The regulator is able to learn about the unknown cost parameter by using a quota that is slack with positive probability. It is never optimal for the...
Persistent link: https://www.econbiz.de/10014136620
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New York is considering additional emission regulation on top of its obligations under the Regional Greenhouse Gas Initiative (RGGI) to achieve its State Energy Plan targets. The proposed measure is a so-called "carbon adder" on CO2 emissions from the power sector which is set as the difference...
Persistent link: https://www.econbiz.de/10012098228
This paper reviews lessons that can be learned from U.S. experiences with market-based environmental policies and from related research. Highlights of U.S. experience are summarized with four categories of policy instruments: pollution charges; tradable permits; market friction reductions; and...
Persistent link: https://www.econbiz.de/10014077113
There is extreme heterogeneity of firms regulated under the European Emissions Trading Scheme (EU ETS) in terms of emissions evels and employed technology. We present a model that shows that behavior of firms under quantity regulation can differ strongly, dependent on the characteristics of the...
Persistent link: https://www.econbiz.de/10009159878
Project-based emissions trading schemes, like the Clean Development Mechanism, are particularly prone to problems of asymmetric information between project parties and the regulator. In this paper, we extend the general framework on incomplete enforcement of policy instruments to reflect the...
Persistent link: https://www.econbiz.de/10014176734
Policy makers and analysts are often faced with situations where it is unclear whether market-based instruments hold real promise of reducing costs, relative to conventional uniform standards. We develop analytic expressions that can be employed with modest amounts of information to estimate the...
Persistent link: https://www.econbiz.de/10014113675