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Investment Policy for New Environmental Monitoring Technologies to Manage Stock Externalities

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Author Info
Katrin Millock () (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris)
Angels Xabadia () (Department of Economics - University of Girona)
David Zilberman () (Department of Agricultural and Ressource Economics - University of California, Berkeley)

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Abstract

With the development of modern information technologies, relying on nanotechnologies and remote sensing, a number of systems can be envisaged that allow for monitoring of the negative externalities generated by producers, consumers or travelers - road pricing schemes or individual emission meters for automobiles are two examples. In the paper, we analyze a dynamic model of stock pollution when the regulator has incomplete information on emissions generated by heterogeneous agent. The paper's contribution is to explicitly study a decentralized policy for adoption of monitoring equipment over time. Each agent has to choose between paying a fixed fee or installing monitoring technology and paying a tax on actual emissions. We determine the second-best tax rates, the pattern of monitoring technology adoption, and identify conditions for the voluntary diffusion of monitoring technologies over time.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00367888_v1.

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Date of creation: Jan 2009
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Handle: RePEc:hal:cesptp:halshs-00367888_v1

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Related research
Keywords: Externalities ; environmental taxation ; monitoring technology adoption ; diffusion ; nanotechnologies;

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This page was last updated on 2009-11-28.

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