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Incentives and Outcomes : China's Environmental Policy
Wu, Jing - 2013
In generating fast economic growth, China is also generating growing concern about its environmental record. Using 2000-2009 data, we find that, while spending on environmental infrastructure has visible positive environmental impact, city spending is strongly tilted towards transportation...
Persistent link: https://www.econbiz.de/10013075346
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Regulation Versus Taxation
Alesina, Alberto F. - 2010
We study which policy tool and at what level a majority chooses in order to reduce activities with negative externalities. We consider three instruments: a rule, that sets an upper limit to the activity which produces the negative externality, a quota that forces a proportional reduction of the...
Persistent link: https://www.econbiz.de/10013137596
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Risk and Return in Environmental Economics
Pindyck, Robert S. - 2012
I examine the risk/return tradeoff for environmental investments, and its implications for policy choice. Consider a policy to reduce carbon emissions. To what extent does the value of such a policy depend on the expected future damages from global warming versus uncertainty over those damages,...
Persistent link: https://www.econbiz.de/10013103046
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Environmental Policy and Firm Behavior : Abatement Investment and Location Decisions Under Uncertainty and Irreversibility
Xepapadeas, Anastasios - 2021
This paper explores abatement investment and location responses to environmental policy, which takes the form of emission taxes or tradeable emission permits and subsidies against the costs of abatement investment, under uncertainty and irreversibility. Uncertainty is associated with output...
Persistent link: https://www.econbiz.de/10013244403
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Environmental Protection, Rare Disasters, and Discount Rates
Barro, Robert J. - 2013
Extremely low discount rates play a central role in the Stern Review's evaluation of environmental protection, and this assumption has been criticized by many economists. The Review also stresses that great uncertainty is a critical element for optimal environmental policies. An appropriate...
Persistent link: https://www.econbiz.de/10013078588
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Incentive Constrained Risk Sharing, Segmentation, and Asset Pricing
Biais, Bruno - 2017
Incentive problems make securities' payoffs imperfectly pledgeable, limiting agents' ability to issue liabilities. We analyze the equilibrium consequences of such endogenous incompleteness in a dynamic exchange economy. Because markets are endogenously incomplete, agents have different...
Persistent link: https://www.econbiz.de/10012944155
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Individual Rationality and Participation in Large Scale, Multi-Hospital Kidney Exchange
Ashlagi, Itai - 2011
As multi-hospital kidney exchange clearinghouses have grown, the set of players has grown from patients and surgeons to include hospitals. Hospitals have the option of enrolling only their hard-to-match patient-donor pairs, while conducting easily arranged exchanges internally. This behavior has...
Persistent link: https://www.econbiz.de/10013130977
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The Design of Performance Pay in Education
Neal, Derek A. - 2011
educator performance metrics and measures of student achievement. To mitigate incentives for coaching, incentive systems should … information about student achievement because they create no incentives for educators to take hidden actions that contaminate …
Persistent link: https://www.econbiz.de/10013131241
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Information Aggregation, Investment, and Managerial Incentives
Albagli, Elias - 2011
We study the interplay of share prices and firm decisions when share prices aggregate and convey noisy information about fundamentals to investors and managers. First, we show that the informational feedback between the firm's share price and its investment decisions leads to a systematic...
Persistent link: https://www.econbiz.de/10013121056
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Individual Preferences, Organization, and Competition in a Model of R&D Incentive Provision
Lacetera, Nicola - 2011
provision of incentives to corporate scientists, in an environment where (1) scientists engage in multiple activities when …-monetary incentives; and (4) firms compete on the product market. We show that both the degree of knowledge spillovers and of market … competition affect the incentives given to scientists, and these effects interact. First, high knowledge spillovers lead firms to …
Persistent link: https://www.econbiz.de/10013125567