Taxes and quotas for a Stock Pollutant with Multiplicative Uncertainty: A Comment
AbstractIn this essay, it is shown that in the Hoel and Karp (2001) model of global warming, the optimal response of taxes for a stock pollutant with mutiplicative uncertainty is opposite when the control variable is pollution taxes instead of emissions. In this case, the election of control variable implies different information assumptions about the firm's reaction to emission taxes. The results in both cases are driven by the nature of the policy makerÂ´s preferences
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Bibliographic InfoPaper provided by Society for Computational Economics in its series Computing in Economics and Finance 2005 with number 364.
Date of creation: 11 Nov 2005
Date of revision:
Pollution Control; Multiplicative Disturbances; Stochastic Control;
Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
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