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Dynamics of pollution control when damage is sensitive to the rate of pollution accumulation

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Author Info
Olli Tahvonen
Abstract

Economic models which take into account the long-term effects of pollution in the environment specify pollution damage as a function of the accumulated stock. Several economists have proposed another formulation where damage is a function of the time derivative of the pollution stock. This paper considers the intertemporal efficiency implications of this formulation. The first specification is qualitative and the objective functional includes both the rate of change and the level of the pollution stock. The second specification is a stylized climate change model with a linear damage function where damage depends only on the rate of increase in global temperature. The analysis reveals that the efficiency properties of optimal pollution control are very sensitive to this change in the damage function. Intertemporal efficiency may require higher emissions compared with the level which is optimal from the myopic point of view. An increase in the rate of discount typically reduces the optimal emission level. Copyright Kluwer Academic Publishers 1995

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File URL: http://hdl.handle.net/10.1007/BF00691907
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Article provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.

Volume (Year): 5 (1995)
Issue (Month): 1 (January)
Pages: 9-27
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Handle: RePEc:kap:enreec:v:5:y:1995:i:1:p:9-27

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Keywords: Pollution control; 2+> CO2 ;

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. C. G. Plourde, 1972. "A Model of Waste Accumulation and Disposal," Canadian Journal of Economics, Canadian Economics Association, vol. 5(1), pages 119-25, February. [Downloadable!] (restricted)
  2. Nordhaus, William D, 1991. "To Slow or Not to Slow: The Economics of the Greenhouse Effect," Economic Journal, Royal Economic Society, vol. 101(407), pages 920-37, July. [Downloadable!] (restricted)
  3. Hartwick, John M., 1990. "Natural resources, national accounting and economic depreciation," Journal of Public Economics, Elsevier, vol. 43(3), pages 291-304, December. [Downloadable!] (restricted)
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  4. Tahvonen, Olli, 1994. "Carbon dioxide abatement as a differential game," European Journal of Political Economy, Elsevier, vol. 10(4), pages 685-705, December. [Downloadable!] (restricted)
  5. William D. Nordhaus, 1992. "The 'DICE' Model: Background and Structure of a Dynamic Integrated Climate-Economy Model of the Economics of Global Warming," Cowles Foundation Discussion Papers 1009, Cowles Foundation, Yale University. [Downloadable!]
  6. Stephen C Peck & Thomas J. Teisberg, 1992. "CETA: A Model for Carbon Emissions Trajectory Assessment," The Energy Journal, International Association for Energy Economics, vol. 13(1), pages 55-78.
  7. Jon Conrad & Lars Olson, 1992. "The economics of a stock pollutant: Aldicarb on Long Island," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 2(3), pages 245-258, May. [Downloadable!] (restricted)
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  8. Keeler, Emmett & Spence, Michael & Zeckhauser, Richard, 1972. "The optimal control of pollution," Journal of Economic Theory, Elsevier, vol. 4(1), pages 19-34, February. [Downloadable!] (restricted)
  9. Falk Ita & Mendelsohn Robert, 1993. "The Economics of Controlling Stock Pollutants: An Efficient Strategy for Greenhouse Gases," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 76-88, July. [Downloadable!] (restricted)
  10. Andrew Dean & Peter Hoeller, 1992. "Costs of Reducing CO2 Emissions: Evidence from Six Global Models," OECD Economics Department Working Papers 122, OECD, Economics Department. [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. H. Aaheim, 1999. "Climate Policy with Multiple Sources and Sinks of Greenhouse Gases," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(3), pages 413-430, October. [Downloadable!] (restricted)
  2. Michael Toman & Karen Palmer, 1997. "How should an accumulative toxic substance be banned?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(1), pages 83-102, January. [Downloadable!] (restricted)
  3. Toman, Michael & Withagen, Cees, 1998. "Accumulative Pollution, "Clean Technology," and Policy Design," Discussion Papers dp-98-43, Resources For the Future. [Downloadable!]
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  4. Hotel , Michael, 2008. "Bush Meets Hotelling: Effects of Improved Renewable Energy Technology on Greenhouse Gas Emissions," Memorandum 29/2008, Oslo University, Department of Economics. [Downloadable!]
  5. Tarui, Nori, 2002. "Intertemporal Permit Trading For Stock Pollutants With Uncertainty," 2002 Annual meeting, July 28-31, Long Beach, CA 19752, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
    Other versions:
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