Optimal Intervention Policies for a Region Facing Pollution-Induced Uncertainty
This paper examines optimal interventions in the presence of externality-induced uncertainty. A regional model of three activities involving polluting, nonpolluting and pollution-abating industries is developed, and a Taylor series technique is utilized to represent a stochastic regional utility function. Optimal intervention policies in the forms of output or input taxes and subsidies are then deduced and analyzed.
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Volume (Year): 23 (1989)
Issue (Month): 1 ()
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