Losses from effluent taxes and quotas under uncertainty
Journal of Environmental Economics and Management
By: W.D. Watson and R.G. Ridker
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Abstract
Recent theoretical papers by Adar and Griffin (J. Environ. Econ. Manag.3, 178-188 (1976)), Fishelson (J. Environ. Econ. Manag.3, 189-197 (1976)), and Weitzman (Rev. Econ. Studies41, 477-491 (1974)) show that,different expected social losses arise from using effluent taxes and quotas as alternative control instruments when marginal control costs are uncertain. Key assumptions in these analyses are linear marginal cost and benefit functions and an additive error for the marginal cost function (to reflect uncertainty). In this paper, empirically derived nonlinear functions and more realistic multiplicative error terms are used to estimate expected control and damage costs and to identify (empirically) the mix of control instruments that minimizes expected losses. ?? 1984.
| Publication type | Article |
|---|---|
| Publication Subtype | Journal Article |
| Title | Losses from effluent taxes and quotas under uncertainty |
| Series title | Journal of Environmental Economics and Management |
| Volume | 11 |
| Issue | 4 |
| Year Published | 1984 |
| Language | English |
| Larger Work Type | Article |
| Larger Work Subtype | Journal Article |
| Larger Work Title | Journal of Environmental Economics and Management |
| First page | 310 |
| Last page | 326 |
| Google Analytic Metrics | Metrics page |