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Consistency And Optimality In A Dynamic Game Of Pollution Control I: Competition

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  • Batabyal, Amitrajeet A.

Abstract

I model the interaction between a regulator and polluting firms as a Stackelberg differential game in which the regulator leads. The firms create pollution, which results in a stock externality. I analyze the intertemporal effects of alternate pollution control measures in a competitive industry. The principal issue here concerns the dynamic inconsistency of the optimal solution. Inter alia, I compare the steady state levels of pollution under optimal and under time consistent policies. Forthcoming in Environmental and Resource Economics

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Bibliographic Info

Paper provided by Utah State University, Economics Department in its series Economics Research Institute, ERI Study Papers with number 28351.

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Date of creation: 1995
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Handle: RePEc:ags:usuesp:28351

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Web page: http://www.econ.usu.edu/
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Keywords: environmental; regulation; tax; dynamic; game; Environmental Economics and Policy; Q25; H32; D62;

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  1. Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 675-740, June.
  2. Ploeg, F. van der & Zeeuw, A.J. de, 1992. "International aspects of pollution control," Open Access publications from Tilburg University urn:nbn:nl:ui:12-377516, Tilburg University.
  3. Karp, Larry & Newbery, David M G, 1989. "Intertemporal Consistency Issues in Depletable Resources," CEPR Discussion Papers 346, C.E.P.R. Discussion Papers.
  4. Batabyal, Amitrajeet A., 1995. "Leading issues in domestic environmental regulation: A review essay," Ecological Economics, Elsevier, vol. 12(1), pages 23-39, January.
  5. Buiter, Willem H, 1984. "Policy Evaluation and Design for Continuous Time Linear Rational Expectations Models: Some Recent Developments," CEPR Discussion Papers 15, C.E.P.R. Discussion Papers.
  6. Karp, Larry, 1984. "Optimality and consistency in a differential game with non-renewable resources," Journal of Economic Dynamics and Control, Elsevier, vol. 8(1), pages 73-97, October.
  7. Amitrajeet Batabyal, 1996. "Consistency and optimality in a dynamic game of pollution control II: Monopoly," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 8(3), pages 315-330, October.
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Cited by:
  1. George E. HALKOS & George PAPAGEORGIOU, 2010. "Differential Games in Non–Renewable Resources Extraction," Theoretical and Practical Research in Economic Fields, ASERS Publishing, vol. 0(2), pages 232 - 243, December.
  2. Amitrajeet Batabyal, 1996. "Consistency and optimality in a dynamic game of pollution control II: Monopoly," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 8(3), pages 315-330, October.
  3. Thomas Vallée, 1997. "Comparison of different Stackelberg solutions in a deterministic dynamic pollution control," Levine's Working Paper Archive 1406, David K. Levine.
  4. Halkos, George & Papageorgiou, George, 2012. "Simple taxation schemes on non–renewable resources extraction," MPRA Paper 40945, University Library of Munich, Germany.
  5. Halkos, George, 2010. "Dynamic regulations in non –renewable resources oligopolistic markets," MPRA Paper 24774, University Library of Munich, Germany.

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