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Determinants of Cleaner Technology Investments in the U.S. Bleached Kraft Pulp Industry

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Author Info

  • Leigh J. Maynard
  • James S. Shortle

Abstract

This study identifies adoption determinants of selected cleaner technologies used in bleached kraft pulp production, with emphasis on incentives for voluntary environmental management. A double-hurdle model consistent with the theory of irreversible investment under uncertainty outperformed a probit specification, indicating the importance of option values as an adoption deterrent. Measures of public pressure for environmental performance, such as Toxics Release Inventory data and environmental group membership, were positively associated with cleaner technology adoption. The results suggest a role for environmental policy designs that accommodate the industry’ s private incentives while minimizing the value of waiting to adopt cleaner technologies.

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File URL: http://le.uwpress.org/cgi/reprint/77/4/561
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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 77 (2001)
Issue (Month): 4 ()
Pages: 561-576

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Handle: RePEc:uwp:landec:v:77:y:2001:i:4:p:561-576

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Web page: http://le.uwpress.org/

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Cited by:
  1. LOFGREN Asa & MILLOCK Katrin & NAUGES Céline, 2007. "Using Ex Post Data to Estimate the Hurdle Rate of Abatement Investments - An application to the Swedish Pulp and Paper Industry and Energy Sector," LERNA Working Papers 07.06.227, LERNA, University of Toulouse.
  2. Löfgren, Åsa & Millock, Katrin & Nauges, Céline, 2008. "The effect of uncertainty on pollution abatement investments: Measuring hurdle rates for Swedish industry," Resource and Energy Economics, Elsevier, vol. 30(4), pages 475-491, December.
  3. repec:hal:journl:halshs-00261523 is not listed on IDEAS
  4. repec:hal:journl:halshs-00272041 is not listed on IDEAS
  5. repec:hal:journl:halshs-00343702 is not listed on IDEAS
  6. Hammar, Henrik & Löfgren, Åsa, 2007. "Explaining adoption of end of pipe solutions and clean technologies," Working Paper 102, National Institute of Economic Research.

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