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There is a tendency among policy-makers and industry lobbyists toward "specific", "relative" or "output-based" quotas, i.e., freely distributed to firms proportionally to their output. With a stochastic analytical model, we demonstrate that relative quotas are dominated either by absolute quotas...
Persistent link: https://www.econbiz.de/10011325068
There is a tendency among policy-makers and industry lobbyists toward "specific", "relative" or "output-based" quotas, i.e., freely distributed to firms proportionally to their output. With a stochastic analytical model, we demonstrate that relative quotas are dominated either by absolute quotas...
Persistent link: https://www.econbiz.de/10011591303
The Kyoto Protocol on climate change allocates tradable quotas to developed countries, but let them free to choose the means to respect their quota. There are good reasons for a country not to control its firms through internationally tradable permits. We thus compare a tax and purely domestic...
Persistent link: https://www.econbiz.de/10011335728
The Kyoto Protocol on climate change allocates tradable quotas to developed countries, but let them free to choose the means to respect their quota. There are good reasons for a country not to control its firms through internationally tradable permits. We thus compare a tax and purely domestic...
Persistent link: https://www.econbiz.de/10011597628
This essay reviews the implementation experience with three main applications of tradable permit systems: air pollution control, water supply and fisheries management. Opening with a brief summary of the theory behind these programs and both the economic and environmental consequences...
Persistent link: https://www.econbiz.de/10011335705
This essay reviews the implementation experience with three main applications of tradable permit systems: air pollution control, water supply and fisheries management. Opening with a brief summary of the theory behind these programs and both the economic and environmental consequences...
Persistent link: https://www.econbiz.de/10011596945
. What additional economic cost of mitigation measures will this delay imply? At the same time, the uncertainty surrounding … this uncertainty cost? Is there a hedging strategy that decision makers can adopt to cope with delayed action and uncertain … computing the optimal abatement strategy in the presence of uncertainty about a global stabilisation target (which will be …
Persistent link: https://www.econbiz.de/10010264441
. What additional economic cost of mitigation measures will this delay imply? At the same time, the uncertainty surrounding … this uncertainty cost? Is there a hedging strategy that decision makers can adopt to cope with delayed action and uncertain … computing the optimal abatement strategy in the presence of uncertainty about a global stabilisation target (which will be …
Persistent link: https://www.econbiz.de/10010279546
benefits in the very long run. More specifically, we examine in an expected utility framework how the uncertainty on the growth …
Persistent link: https://www.econbiz.de/10011608349
We discuss the selection of the socially efficient discount rate for public investment projects that entail costs and benefits in the far distant future. We show that the discount rate should be a decreasing function of time horizon under some specific restrictions on the distribution of...
Persistent link: https://www.econbiz.de/10011608551