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Incomplete model specification in a multi-pollutants setting: The case of climate change and acidification

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  • Legras, Sophie

Abstract

This paper analyses the consequences of incomplete environmental model specification on policy design in a multi-pollutants framework. Focusing on the correlations between aerosols and greenhouse gases, the paper compares abatement and stock targets setting for various cases of incomplete model specification. Both cases of lax and stringent regulation, compared to what is socially optimum, may arise. Furthermore, the lax/stringent nature of the policies may evolve over time, so that the time horizon of policy design matters in assessing the impact of incomplete model specification.

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  • Legras, Sophie, 2011. "Incomplete model specification in a multi-pollutants setting: The case of climate change and acidification," Resource and Energy Economics, Elsevier, vol. 33(3), pages 527-543, September.
    • Handle: RePEc:eee:resene:v:33:y:2011:i:3:p:527-543
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    Cited by:

    1. Jing Xu, 2018. "International environmental agreements with agenda and interaction between pollutants," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 18(2), pages 153-174, April.
    2. Camille Regnier & Sophie Legras, 2018. "Urban Structure and Environmental Externalities," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(1), pages 31-52, May.
    3. Ambec, Stefan & Coria, Jessica, 2018. "Policy spillovers in the regulation of multiple pollutants," Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 114-134.
    4. Gren, Ing-Marie & Ang, Frederic, 2019. "Stacking of abatement credits for cost-effective achievement of climate and water targets," Ecological Economics, Elsevier, vol. 164(C), pages 1-1.

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