Ambient Taxes Under m-Dimensional Choice Sets, Heterogeneous Expectations, and Risk-Aversion
AbstractWe consider the design of ambient taxes forrisk-neutral and risk-averse polluters whenpolluters and the regulatory agency haveasymmetric information about environmentalrelationships and probabilities associatedwith random events. Unlike prior work, we showthat under these conditions, optimal ambienttaxes must be firm-specific, and accompaniedby additional incentives to influencepolluters' choices of abatement techniques. Copyright Kluwer Academic Publishers 2002
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.
Volume (Year): 21 (2002)
Issue (Month): 2 (February)
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Web page: http://www.springerlink.com/link.asp?id=100263
ambient taxes; asymmetric information; nonpoint pollution; risk-aversion; water quality;
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