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Pollution thresholds under uncertainty

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  • WIRL, FRANZ

Abstract

This study investigates the optimal use of ‘dirty’ technologies for economic development and when to stop polluting (either temporarily or forever). This question is addressed within a real option framework where three different kinds of options arise: for stopping pollution temporarily or forever and for re-starting. The possibility to shelve a polluting technology temporarily allows for a more conservationist policy. Costs associated with the option of a re-start lead to hystereses effects that complicate empirical cross-country comparisons of environmental policies.

Suggested Citation

  • Wirl, Franz, 2006. "Pollution thresholds under uncertainty," Environment and Development Economics, Cambridge University Press, vol. 11(4), pages 493-506, August.
    • Handle: RePEc:cup:endeec:v:11:y:2006:i:04:p:493-506_00
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    Cited by:

    1. Mosiño, Alejandro, 2012. "Producing energy in a stochastic environment: Switching from non-renewable to renewable resources," Resource and Energy Economics, Elsevier, vol. 34(4), pages 413-430.
    2. Kijima, Masaaki & Nishide, Katsumasa & Ohyama, Atsuyuki, 2011. "EKC-type transitions and environmental policy under pollutant uncertainty and cost irreversibility," Journal of Economic Dynamics and Control, Elsevier, vol. 35(5), pages 746-763, May.
    3. Alexandra-Anca Purcel, 2020. "New insights into the environmental Kuznets curve hypothesis in developing and transition economies: a literature survey," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 22(4), pages 585-631, October.
    4. Jeyhun I. Mikayilov & Marzio Galeotti & Fakhri J. Hasanov, 2018. "The Impact of Economic Growth on CO2 Emissions in Azerbaijan," IEFE Working Papers 102, IEFE, Center for Research on Energy and Environmental Economics and Policy, Universita' Bocconi, Milano, Italy.
    5. Kijima, Masaaki & Nishide, Katsumasa & Ohyama, Atsuyuki, 2010. "Economic models for the environmental Kuznets curve: A survey," Journal of Economic Dynamics and Control, Elsevier, vol. 34(7), pages 1187-1201, July.

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