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Registros recuperados: 205 | |
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Pommeret, Aude; Prieur, Fabien. |
The design of environmental policy typically takes place within a framework in which uncertainty over the future impact of pollution and two different kinds of irreversibilities interact. The first kind of irreversibility concerns the sunk cost of environmental degradation; the second is related to the sunk cost of environmental policy. Clearly, the two irreversibilities pull in opposite directions: policy irreversibility leads to more pollution and a less/later policy while environmental irreversibility generates less pollution and a more/sooner policy. Using a real option approach and an infinite time horizon model, this paper considers both irreversibilities simultaneously. The model first is developed by paying particular attention to the option values... |
Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Policy; Environmental Irreversibility; Policy Irreversibility; Environmental Economics and Policy; Q58; D81. |
Ano: 2009 |
URL: http://purl.umn.edu/50359 |
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Pizer, William A.. |
The uncertainty surrounding both costs and benefits associated with global climate change mitigation creates enormous hurdles for scientists, stakeholders, and decision-makers. A key issue is how policy choices balance uncertainty about costs and benefits. This balance arises in terms of the time path of mitigation efforts as well as whether those efforts, by design, focus on effort or outcome. This paper considers two choices-price versus quantity controls and absolute versus relative/intensity emissions limits-demonstrating that price controls and intensity emissions limits favor certainty about cost over climate benefits and future emissions reductions. The paper then argues that in the near term, this favoritism is desired. |
Tipo: Working or Discussion Paper |
Palavras-chave: Carbon; Climate; Policy; Intensity; Global warming; Uncertainty; Price; Quantity; Environmental Economics and Policy; D81; Q54; Q58. |
Ano: 2005 |
URL: http://purl.umn.edu/10584 |
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Registros recuperados: 205 | |
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