Prices vs quantities with multiple pollutants
AbstractWe examine the choice of policy instruments (price, quantity or a mix of the two) when two pollutants are regulated and firms' abatement costs are private information. Whether abatement efforts are complements or substitutes is key determining the choice of policies. When pollutants are complements, a mixed policy instrument with a tax on one pollutant and a quota on another is sometimes preferable even if the pollutants are identical in terms of benefits and costs of abatement. Yet, if they are substitutes, the mixed policy is dominated by taxes or quotas.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Environmental Economics and Management.
Volume (Year): 66 (2013)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/inca/622870
Pollution; Environmental regulation; Policy mixes; Tax; Emission standard; Asymmetric information;
Other versions of this item:
- Ambec, Stefan & Coria, Jessica, 2011. "Prices vs Quantities with Multiple Pollutants," LERNA Working Papers 11.17.351, LERNA, University of Toulouse.
- Ambec, Stefan & Coria, Jessica, 2011. "Prices vs Quantities with Multiple Pollutants," Working Papers in Economics 517, University of Gothenburg, Department of Economics.
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
- Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
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