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Policy Persistence in Environmental Regulation

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  • Jinhua Zhao
  • Catherine L. Kling

Abstract

This paper is a study of the optimal emission standards under uncertain pollution damages and transaction costs associated with policy changes. The authors show that, in many situations, either policy changes should be avoided or they should be reduced in scale due to the presence of future transaction costs. Under this constraint, policy persistence can be viewed as the rational response of forward-looking policy makers to future transaction costs, and not just the passive outcome of the current political process.

Suggested Citation

  • Jinhua Zhao & Catherine L. Kling, 2000. "Policy Persistence in Environmental Regulation," Center for Agricultural and Rural Development (CARD) Publications 00-wp257, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    • Handle: RePEc:ias:cpaper:00-wp257
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    Cited by:

    1. Patrick Warren & Tom Wilkening, 2010. "Regulatory Fog: The Informational Origins of Regulatory Persistence," Department of Economics - Working Papers Series 1113, The University of Melbourne.
    2. Mort Webster, 2008. "Incorporating Path Dependency into Decision-Analytic Methods: An Application to Global Climate-Change Policy," Decision Analysis, INFORMS, vol. 5(2), pages 60-75, June.
    3. Warren, Patrick L. & Wilkening, Tom S., 2012. "Regulatory fog: The role of information in regulatory persistence," Journal of Economic Behavior & Organization, Elsevier, vol. 84(3), pages 840-856.
    4. Jessica Coria & Magnus Hennlock, 2012. "Taxes, permits and costly policy response to technological change," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 14(1), pages 35-60, January.
    5. Safarzynska, Karolina & van den Bergh, Jeroen C.J.M., 2010. "Evolving power and environmental policy: Explaining institutional change with group selection," Ecological Economics, Elsevier, vol. 69(4), pages 743-752, February.
    6. Charles Sims & David Finnoff, 2016. "Opposing Irreversibilities and Tipping Point Uncertainty," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 3(4), pages 985-1022.
    7. Lai, Lawrence W.C. & Lorne, Frank T. & Davies, Stephen N.G. & Chau, K.W., 2025. "Innovative planning for sustainable development: A win-win approach through conversion of negative into positive externalities," Land Use Policy, Elsevier, vol. 157(C).
    8. Soo Keong Yong & Stuart McDonald, 2018. "Emissions tax and second-mover advantage in clean technology R&D," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 20(1), pages 89-108, January.
    9. Jinhua Zhao, 2022. "Aggregate emission intensity targets: Applications to the Paris Agreement," Economic Inquiry, Western Economic Association International, vol. 60(4), pages 1875-1897, October.

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