Taxes and quotas for a stock pollutant with multiplicative uncertainty

We compare taxes and quotas when firms and the regulator have asymmetric information about the slope of firms’ abatement costs. Damages are caused by a stock pollutant. We calibrate the model using cost and damage estimates of greenhouse gasses. Taxes dominate quotas, as with additive uncertainty. T...

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Veröffentlicht in:	Journal of public economics 2001-10, Vol.82 (1), p.91-114
Hauptverfasser:	Hoel, Michael, Karp, Larry
Format:	Artikel
Sprache:	eng
Schlagworte:	Asymmetric information Economic models Economics Enterprises Global warming Multiplicative disturbances Pollution control Public economics Stochastic control Taxes Taxes and quotas
Online-Zugang:	Volltext
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