Consistency and Optimality in a Dynamic Game of Pollution Control I: Competition
I model the interaction between a regulator and polluting firms as a Stackelberg differential game in which the regulator leads. The firms create pollution, which results in a stock externality. I analyze the intertemporal effects of alternate pollution control measures in a competitive industry. The principal issue here concerns the dynamic inconsistency of the optimal solution. Inter alia, I compare the steady state levels of pollution under optimal and under time consistent policies.
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|Date of creation:||Nov 1995|
|Publication status:||forthcoming in Environmental and Resource Economics|
|Contact details of provider:|| Web page: http://apec.usu.edu/|
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- Karp, Larry & Newbery, David M., 1993.
"Intertemporal consistency issues in depletable resources,"
Handbook of Natural Resource and Energy Economics,in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 19, pages 881-931
- Karp, Larry & Newbery, David M G, 1989. "Intertemporal Consistency Issues in Depletable Resources," CEPR Discussion Papers 346, C.E.P.R. Discussion Papers.
- Buiter, Willem H., 1984.
"Policy Evaluation and Design for Continuous Time Linear Rational Expectations Models: Some Recent Developments,"
CEPR Discussion Papers
15, C.E.P.R. Discussion Papers.
- Willem H. Buiter, 1984. "Policy evaluation and design for continuous time linear rational expectations models: some recent development," NBER Technical Working Papers 0034, National Bureau of Economic Research, Inc.
- Frederick Ploeg & Aart Zeeuw, 1992.
"International aspects of pollution control,"
Environmental & Resource Economics,
Springer;European Association of Environmental and Resource Economists, vol. 2(2), pages 117-139, March.
- van der Ploeg, F. & de Zeeuw, A.J., 1990. "International aspects of pollution control," Discussion Paper 1990-65, Tilburg University, Center for Economic Research.
- Van Der Ploeg, F. & De Zeeuw, A.J., 1990. "International Aspects Of Pollution Control," Papers 9065, Tilburg - Center for Economic Research.
- Amitrajeet Batabyal, 1996. "Consistency and optimality in a dynamic game of pollution control II: Monopoly," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 8(3), pages 315-330, October.
- Karp, Larry, 1984. "Optimality and consistency in a differential game with non-renewable resources," Journal of Economic Dynamics and Control, Elsevier, vol. 8(1), pages 73-97, October.
- Batabyal, Amitrajeet A., 1995. "Leading issues in domestic environmental regulation: A review essay," Ecological Economics, Elsevier, vol. 12(1), pages 23-39, January.
- Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, vol. 30(2), pages 675-740, June. Full references (including those not matched with items on IDEAS)
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