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Capital accumulation subject to pollution control:Open‐loop versus feedback investment strategies

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  • M. Stimming

Abstract

In a differential game between two symmetric firms, provided with a clean and a dirtyproduction activity, it is analyzed how investment and emissions are affected by environmentalregulation. If both firms face the same environmental policy, a stricter policy reduceslong‐run investment in the dirty technology, while the effect on the clean one is ambiguous.Long‐run emissions of each firm, and consequently total emissions, decrease. This resultneed not necessarily hold if both firms face different policy instruments: Each firm's investmentlevels, and consequently also its emissions, increase when its competitor faces a stricterenvironmental policy. Copyright Kluwer Academic Publishers 1999

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  • M. Stimming, 1999. "Capital accumulation subject to pollution control:Open‐loop versus feedback investment strategies," Annals of Operations Research, Springer, vol. 88(0), pages 309-336, January.
    • Handle: RePEc:spr:annopr:v:88:y:1999:i:0:p:309-336:10.1023/a:1018994716675
    DOI: 10.1023/A:1018994716675
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    Cited by:

    1. D. W. K. Yeung, 2007. "Dynamically Consistent Cooperative Solution in a Differential Game of Transboundary Industrial Pollution," Journal of Optimization Theory and Applications, Springer, vol. 134(1), pages 143-160, July.
    2. David Yeung, 2014. "Dynamically consistent collaborative environmental management with production technique choices," Annals of Operations Research, Springer, vol. 220(1), pages 181-204, September.
    3. El Ouardighi, Fouad & Sim, Jeongeun & Kim, Bowon, 2021. "Pollution accumulation and abatement policies in two supply chains under vertical and horizontal competition and strategy types," Omega, Elsevier, vol. 98(C).
    4. Elke Moser & Andrea Seidl & Gustav Feichtinger, 2014. "History-dependence in production-pollution-trade-off models: a multi-stage approach," Annals of Operations Research, Springer, vol. 222(1), pages 457-481, November.

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