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Abatement-Cost Heterogeneity and Anticipated Savings from Market-Based Environmental Policies

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Author Info
Stavins, Robert (Harvard U and Resources for the Future)
Newell, Richard (Resources for the Future)

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Abstract

Policy makers and policy analysts in the environmental realm are frequently faced with situations where it is unclear whether market-based instruments hold real promise of reducing costs, relative to conventional command-and-control approaches. We develop some simple rules-of-thumb that can be employed with minimal amounts of information to estimate the potential cost savings that can be anticipated from designing and implementing market-based policy instruments. Because our analytical models are simple, yet capture key properties of pollution abatement cost functions, they can be used to predict potential cost savings through simple formulae. Our hope is that these simple formulae can aid policy analysts and policy makers in the early stages of exploring alternative policy instruments by helping them identify approaches that merit greater attention and more detailed analysis.

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File URL: http://ksgnotes1.harvard.edu/Research/wpaper.nsf/rwp/RWP00-006/$File/rwp00_006_stavins.pdf
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Publisher Info
Paper provided by Harvard University, John F. Kennedy School of Government in its series Working Paper Series with number rwp00-006.

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Date of creation: Oct 2000
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Handle: RePEc:ecl:harjfk:rwp00-006

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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. Atkinson, Scott & Tietenberg, Tom, 1991. "Market failure in incentive-based regulation: The case of emissions trading," Journal of Environmental Economics and Management, Elsevier, vol. 21(1), pages 17-31, July. [Downloadable!] (restricted)
  2. Bohm, Peter & Russell, Clifford S., 1985. "Comparative analysis of alternative policy instruments," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 1, chapter 10, pages 395-460 Elsevier. [Downloadable!] (restricted)
  3. McConnell, Virginia D. & Schwarz, Gregory E., 1992. "The supply and demand for pollution control: Evidence from wastewater treatment," Journal of Environmental Economics and Management, Elsevier, vol. 23(1), pages 54-77, July. [Downloadable!] (restricted)
  4. O'Neil, William & David, Martin & Moore, Christina & Joeres, Erhard, 1983. "Transferable discharge permits and economic efficiency: The fox river," Journal of Environmental Economics and Management, Elsevier, vol. 10(4), pages 346-355, December. [Downloadable!] (restricted)
  5. Stavins, Robert, 2001. "Experience with Market-Based Environmental Policy Instruments," Discussion Papers dp-01-58, Resources For the Future. [Downloadable!]
    Other versions:
  6. Gollop, Frank M & Roberts, Mark J, 1983. "Environmental Regulations and Productivity Growth: The Case of Fossil-Fueled Electric Power Generation," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 654-74, August. [Downloadable!] (restricted)
  7. Hahn, Robert W, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, MIT Press, vol. 99(4), pages 753-65, November. [Downloadable!] (restricted)
    Other versions:
  8. Jaffe Adam B. & Stavins Robert N., 1995. "Dynamic Incentives of Environmental Regulations: The Effects of Alternative Policy Instruments on Technology Diffusion," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages S43-S63, November. [Downloadable!] (restricted)
  9. Jung, Chulho & Krutilla, Kerry & Boyd, Roy, 1996. "Incentives for Advanced Pollution Abatement Technology at the Industry Level: An Evaluation of Policy Alternatives," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 95-111, January. [Downloadable!] (restricted)
  10. Scott E. Atkinson, 1983. "Marketable Pollution Permits and Acid Rain Externalities," Canadian Journal of Economics, Canadian Economics Association, vol. 16(4), pages 704-22, November. [Downloadable!] (restricted)
  11. Stavins, Robert & Jaffe, Adam & Newell, Richard, 1998. "The Induced Innovation Hypothesis and Energy-Saving Technological Change," Discussion Papers dp-98-12-rev, Resources For the Future. [Downloadable!]
    Other versions:
  12. Seskin, Eugene P. & Anderson, Robert Jr. & Reid, Robert O., 1983. "An empirical analysis of economic strategies for controlling air pollution," Journal of Environmental Economics and Management, Elsevier, vol. 10(2), pages 112-124, June. [Downloadable!] (restricted)
  13. Milliman, Scott R. & Prince, Raymond, 1989. "Firm incentives to promote technological change in pollution control," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 247-265, November. [Downloadable!] (restricted)
  14. Stavins Robert N., 1995. "Transaction Costs and Tradeable Permits," Journal of Environmental Economics and Management, Elsevier, vol. 29(2), pages 133-148, September. [Downloadable!] (restricted)
  15. Malueg, David A., 1989. "Emission credit trading and the incentive to adopt new pollution abatement technology," Journal of Environmental Economics and Management, Elsevier, vol. 16(1), pages 52-57, January. [Downloadable!] (restricted)
  16. Krupnick, Alan J., 1986. "Costs of alternative policies for the control of nitrogen dioxide in Baltimore," Journal of Environmental Economics and Management, Elsevier, vol. 13(2), pages 189-197, June. [Downloadable!] (restricted)
  17. Misiolek, Walter S. & Elder, Harold W., 1989. "Exclusionary manipulation of markets for pollution rights," Journal of Environmental Economics and Management, Elsevier, vol. 16(2), pages 156-166, March. [Downloadable!] (restricted)
  18. Maloney, Michael T. & Yandle, Bruce, 1984. "Estimation of the cost of air pollution control regulation," Journal of Environmental Economics and Management, Elsevier, vol. 11(3), pages 244-263, September. [Downloadable!] (restricted)
  19. Suen, Wing, 1990. "Statistical Models of Consumer Behavior with Heterogeneous Values and Constraints," Economic Inquiry, Oxford University Press, vol. 28(1), pages 79-98, January.
  20. Gollop, Frank M & Roberts, Mark J, 1985. "Cost-minimizing Regulation of Sulfur Emissions: Regional Gains in Electric Power," The Review of Economics and Statistics, MIT Press, vol. 67(1), pages 81-90, February. [Downloadable!] (restricted)
  21. Atkinson, Scott E. & Lewis, Donald H., 1974. "A cost-effectiveness analysis of alternative air quality control strategies," Journal of Environmental Economics and Management, Elsevier, vol. 1(3), pages 237-250, November. [Downloadable!] (restricted)
  22. Atkinson, Scott E. & Tietenberg, T. H., 1982. "The empirical properties of two classes of designs for transferable discharge permit markets," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 101-121, June. [Downloadable!] (restricted)
Full references

Cited by:
(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. Cavanagh, Sheila & Hahn, Robert & Stavins, Robert, 2001. "National Environmental Policy During the Clinton Years," Working Paper Series rwp01-027, Harvard University, John F. Kennedy School of Government. [Downloadable!]
    Other versions:
  2. Parry, Ian & Pizer, William & Fischer, Carolyn, 2000. "How Important is Technological Innovation in Protecting the Environment?," Discussion Papers dp-00-15, Resources For the Future. [Downloadable!]
  3. Stavins, Robert, 2000. "A Two-Way Street Between Environmental Economics and Public Policy," Working Paper Series rwp00-005, Harvard University, John F. Kennedy School of Government. [Downloadable!]
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