Emission Trading vs. Rigid Regulations in the Control of Vehicle Emissions
AbstractThis paper presents the results of an empirical study of the cost savings associated with a marketable permit system for light-duty vehicles relative to the current system of uniform standards. The sensitivity of cost savings estimates to model specification are examined, including estimation approaches for obtaining cost functions, issues of the functional form of emission control cost functions, and choice of pollution variables included in the estimated cost functions. Additionally, the precision of point estimates of cost savings are explored using a simulation method for obtaining estimates of the standard errors of cost savings.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 1597.
Date of creation: 01 Jan 1994
Date of revision:
Publication status: Published in Land Economics 1994, vol. 70, pp. 174-88
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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Other versions of this item:
- Catherine L. Kling, 1994. "Emission Trading vs. Rigid Regulations in the Control of Vehicle Emissions," Land Economics, University of Wisconsin Press, vol. 70(2), pages 174-188.
- Kling, Catherine L., 2004. "Emission Trading vs. Rigid Regulations in the Control of Vehicle Emissions," Staff General Research Papers 12333, Iowa State University, Department of Economics.
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- Stavins, Robert, 2000.
"Experience with Market-Based Environmental Policy Instruments,"
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- Tietenberg, Tom, 1998. "Ethical influences on the evolution of the US tradable permit approach to air pollution control," Ecological Economics, Elsevier, vol. 24(2-3), pages 241-257, February.
- Feng, Hongli & Kling, Catherine L. & Kurkalova, Lyubov A. & Secchi, Silvia, 2007. "Cac Versus Incentive-Based Instruments in Agriculture: The Case of the Conservation Reserve Program," Staff General Research Papers 10796, Iowa State University, Department of Economics.
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