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Investment Policy for New Environmental Monitoring Technologies to Manage Stock Externalities

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Author Info

  • Katrin Millock

    ()
    (Centre d'Economie de la Sorbonne - Paris School of Economics)

  • Angels Xabadia

    ()
    (Department of Economics - University of Girona)

  • David Zilberman

    ()
    (Department of Agricultural and Resource Economics - University of California)

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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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2009/09010.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 09010.

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Length: 38 pages
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:mse:cesdoc:09010

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Related research

Keywords: Externalities; environmental taxation; monitoring technology adoption; diffusion; nanotechnologies.;

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Cited by:
  1. Renan-Ulrich Goetz & Yolanda Martínez, 2013. "Nonpoint source pollution and two-part instruments," Environmental Economics and Policy Studies, Society for Environmental Economics and Policy Studies - SEEPS, vol. 15(3), pages 237-258, July.

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