On the optimal taxation of common-pool resources
AbstractRecent research developments in common-pool resource models emphasize the importance of links with ecological systems and the presence of non-linearities, thresholds and multiple steady states. In a recent paper Kossioris et al. (2008) develop a methodology for deriving feedback Nash equilibria for non-linear differential games and apply this methodology to a common-pool resource model of a lake where pollution corresponds to benefits and at the same time affects the ecosystem services. This paper studies the structure of optimal state-dependent taxes that steer the combined economic-ecological system towards the trajectory of optimal management, and provides an algorithm for calculating such taxes.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 35 (2011)
Issue (Month): 11 ()
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Web page: http://www.elsevier.com/locate/jedc
Differential games; Non-linear feedback Nash equilibria; Ecosystems; Optimal state-dependent tax;
Other versions of this item:
- Georgios Kossioris & Michael Plexousakis & Anastasios Xepapadeas & Aart de Zeeuw, 2010. "On the Optimal Taxation of Common-Pool Resources," Working Papers 2010.101, Fondazione Eni Enrico Mattei.
- George Kossioris & Michael Plexousakis & Anastasios Xepapadeas & Aart de Zeeuw, . "On the Optimal Taxation of Common-Pool Resources," DEOS Working Papers 1010, Athens University of Economics and Business.
- Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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- Wagener, F.O.O., 2013. "Economics of environmental regime shifts," CeNDEF Working Papers 13-08, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
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