Environmental innovation and the cost of pollution abatement
The impact of environmental innovation on the marginal pollution abatement cost at the ﬁrm level is investigated. We show that the common assumption that innovation reduces the marginal abatement cost is wrong. We draw some implications about the incentives to innovate under environmental regulation. In particular, we ﬁnd that adopting an environmental friendly tech- nology may lead to more pollution and less proﬁt at the ﬁrm level.
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