Environmental policy implications of extreme variations in pollutant stock levels and socioeconomic costs
Author
Abstract
Suggested Citation
DOI: 10.1016/j.qref.2013.05.001
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Stéphane Hallegatte & Jean Charles Hourcade, 2006.
"Why economic growth dynamics matter inassessing climate change damages: illustrationon extreme events,"
CIRED Working Papers
halshs-00009339, HAL.
- Stéphane Hallegatte & Jean Charles Hourcade, 2006. "Why economic growth dynamics matter inassessing climate change damages: illustrationon extreme events," Working Papers halshs-00009339, HAL.
- Nordhaus, William D, 1991. "To Slow or Not to Slow: The Economics of the Greenhouse Effect," Economic Journal, Royal Economic Society, vol. 101(407), pages 920-937, July.
- Tol, Richard S. J., 2005. "The marginal damage costs of carbon dioxide emissions: an assessment of the uncertainties," Energy Policy, Elsevier, vol. 33(16), pages 2064-2074, November.
- Michael Toman, 1998.
"Research Frontiers in the Economics of Climate Change,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 11(3), pages 603-621, April.
- Toman, Michael, 1998. "Research Frontiers in the Economics of Climate Change," RFF Working Paper Series dp-98-32, Resources for the Future.
- Toman, Michael, 1998. "Research Frontiers in the Economics of Climate Change," Discussion Papers 10507, Resources for the Future.
- Lin, Tyrone T. & Ko, Chuan-Chuan & Yeh, Hsin-Ni, 2007. "Applying real options in investment decisions relating to environmental pollution," Energy Policy, Elsevier, vol. 35(4), pages 2426-2432, April.
- Hoel, Michael & Karp, Larry, 2001.
"Taxes and quotas for a stock pollutant with multiplicative uncertainty,"
Journal of Public Economics, Elsevier, vol. 82(1), pages 91-114, October.
- Michael Hoel & Larry Karp, 1999. "Taxes and Quotas for a Stock Pollutant with Multiplicative Uncertainty," Working Papers 1999.15, Fondazione Eni Enrico Mattei.
- Hoel, Michael & Karp, Larry, 2000. "Taxes and Quotas for a Stock Pollutant with Multiplicative Uncertainty," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt9v86p5s7, Department of Agricultural & Resource Economics, UC Berkeley.
- Hoel, Michael & Karp, Larry S., 2000. "Taxes And Quotas For A Stock Pollutant With Multiplicative Uncertainty," CUDARE Working Papers 25030, University of California, Berkeley, Department of Agricultural and Resource Economics.
- Pindyck, Robert S., 2000.
"Irreversibilities and the timing of environmental policy,"
Resource and Energy Economics, Elsevier, vol. 22(3), pages 233-259, July.
- Pindyck, Robert S., 1998. "Irreversibilities and the timing of environmental policy," Working papers WP 4047-98., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, April.
- Pindyck, Robert S., 2002. "Optimal timing problems in environmental economics," Journal of Economic Dynamics and Control, Elsevier, vol. 26(9-10), pages 1677-1697, August.
- Kenneth J. Arrow & Anthony C. Fisher, 1974.
"Environmental Preservation, Uncertainty, and Irreversibility,"
Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 4, pages 76-84,
Palgrave Macmillan.
- Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(2), pages 312-319.
- Kolstad, Charles D., 1996. "Fundamental irreversibilities in stock externalities," Journal of Public Economics, Elsevier, vol. 60(2), pages 221-233, May.
- Alistair Ulph & David Ulph, "undated". "Global Warming, Irreversibility And Learning," ELSE working papers 056, ESRC Centre on Economics Learning and Social Evolution.
- Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
- Marie-Laure Guillerminet & Richard S.J. Tol, 2005. "Decision Making Under Catastrophic Risk And Learning: The Case Of The Possible Collapse Of The West Antarctic Ice Sheet," Working Papers FNU-79, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2005.
- Ian W.H. Parry & Roberton C. Williams III & Lawrence H. Goulder, 2002.
"When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets,"
Chapters, in: Lawrence H. Goulder (ed.), Environmental Policy Making in Economies with Prior Tax Distortions, chapter 25, pages 471-503,
Edward Elgar Publishing.
- Parry, Ian W. H. & Williams, Roberton III & Goulder, Lawrence H., 1999. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," Journal of Environmental Economics and Management, Elsevier, vol. 37(1), pages 52-84, January.
- Parry, Ian & Goulder, Lawrence & Williams III, Roberton, 1997. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," RFF Working Paper Series dp-97-18-rev, Resources for the Future.
- Parry, Ian W.H. & Williams, Roberton C., III & Goulder, Lawrence H., 1998. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," Discussion Papers 10514, Resources for the Future.
- Ian W. H. Parry & Roberton C. Williams III & Lawrence H. Goulder, 1997. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," NBER Working Papers 5967, National Bureau of Economic Research, Inc.
- Hallegatte, Stephane & Hourcade, Jean-Charles & Dumas, Patrice, 2007.
"Why economic dynamics matter in assessing climate change damages: Illustration on extreme events,"
Ecological Economics, Elsevier, vol. 62(2), pages 330-340, April.
- Stéphane Hallegatte & Jean Charles Hourcade & Patrice Dumas, 2007. "Why economic dynamics matter in assessing climate change damages : illustration on extreme events," Post-Print hal-00164626, HAL.
- Marc S. Paoletta & Luca Taschini, 2006. "An Econometric Analysis of Emission Trading Allowances," Swiss Finance Institute Research Paper Series 06-26, Swiss Finance Institute.
- Maddison, David, 1995. "A cost-benefit analysis of slowing climate change," Energy Policy, Elsevier, vol. 23(4-5), pages 337-346.
- Falk Ita & Mendelsohn Robert, 1993. "The Economics of Controlling Stock Pollutants: An Efficient Strategy for Greenhouse Gases," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 76-88, July.
- Gjerde, Jon & Grepperud, Sverre & Kverndokk, Snorre, 1999.
"Optimal climate policy under the possibility of a catastrophe,"
Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 289-317, August.
- Jon Gjerde & Sverre Grepperud & Snorre Kverndokk, 1998. "Optimal Climate Policy under the Possibility of a Catastrophe," Discussion Papers 209, Statistics Norway, Research Department.
- Ulph, Alistair & Ulph, David, 1997. "Global Warming, Irreversibility and Learning," Economic Journal, Royal Economic Society, vol. 107(442), pages 636-650, May.
- Claude Henry, 1974. "Investment decisions under uncertainty: The "irreversibility effect"," ULB Institutional Repository 2013/327343, ULB -- Universite Libre de Bruxelles.
- Peck, Stephen C. & Teisberg, Thomas J., 1993. "Global warming uncertainties and the value of information: an analysis using CETA," Resource and Energy Economics, Elsevier, vol. 15(1), pages 71-97, March.
- Baranzini, Andrea & Chesney, Marc & Morisset, Jacques, 2003. "The impact of possible climate catastrophes on global warming policy," Energy Policy, Elsevier, vol. 31(8), pages 691-701, June.
- William D. Nordhaus, 1993. "Reflections on the Economics of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 11-25, Fall.
- Henry, Claude, 1974. "Investment Decisions Under Uncertainty: The "Irreversibility Effect."," American Economic Review, American Economic Association, vol. 64(6), pages 1006-1012, December.
- Marc Baudry, 2000. "Joint Management of Emission Abatement and Technological Innovation for Stock Externalities," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 16(2), pages 161-183, June.
- Nordhaus, William D, 1991. "A Sketch of the Economics of the Greenhouse Effect," American Economic Review, American Economic Association, vol. 81(2), pages 146-150, May.
- Anthony Fisher & Urvashi Narain, 2003. "Global Warming, Endogenous Risk, and Irreversibility," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 25(4), pages 395-416, August.
- Daskalakis, George & Psychoyios, Dimitris & Markellos, Raphael N., 2009. "Modeling CO2 emission allowance prices and derivatives: Evidence from the European trading scheme," Journal of Banking & Finance, Elsevier, vol. 33(7), pages 1230-1241, July.
- Geoffrey Heal & Bengt Kriström, 2002. "Uncertainty and Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(1), pages 3-39, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Peterson, Sonja, 2006. "Uncertainty and economic analysis of climate change: a survey of approaches and findings," Open Access Publications from Kiel Institute for the World Economy 3778, Kiel Institute for the World Economy (IfW Kiel).
- Lin, Tyrone T. & Ko, Chuan-Chuan & Yeh, Hsin-Ni, 2007. "Applying real options in investment decisions relating to environmental pollution," Energy Policy, Elsevier, vol. 35(4), pages 2426-2432, April.
- Robert S. Pindyck, 2006.
"Uncertainty In Environmental Economics,"
NBER Working Papers
12752, National Bureau of Economic Research, Inc.
- Robert S. Pindyck, 2006. "Uncertainty in Environmental Economics," Working Papers 0617, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- Peterson, Sonja, 2004. "The contribution of economics to the analysis of climate change and uncertainty: a survey of approaches and findings," Kiel Working Papers 1212, Kiel Institute for the World Economy (IfW Kiel).
- Karp, Larry & Zhang, Jiangfeng, 2006. "Regulation with anticipated learning about environmental damages," Journal of Environmental Economics and Management, Elsevier, vol. 51(3), pages 259-279, May.
- W. Botzen & Jeroen Bergh, 2014. "Specifications of Social Welfare in Economic Studies of Climate Policy: Overview of Criteria and Related Policy Insights," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(1), pages 1-33, May.
- Kolstad, Charles D. & Toman, Michael, 2005.
"The Economics of Climate Policy,"
Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 3, chapter 30, pages 1561-1618,
Elsevier.
- Toman, Michael & Kolstad, Charles, 2000. "The Economics of Climate Policy," RFF Working Paper Series dp-00-40, Resources for the Future.
- Kolstad, Charles D. & Toman, Michael, 2001. "The Economics of Climate Policy," Discussion Papers 10783, Resources for the Future.
- Richard S. J. Tol & In Chang Hwang & Frédéric Reynès, 2012.
"The Effect of Learning on Climate Policy under Fat-tailed Uncertainty,"
Working Paper Series
5312, Department of Economics, University of Sussex Business School.
- Hwang, In Chang & Reynes, Frederic & Tol, Richard, 2014. "The effect of learning on climate policy under fat-tailed uncertainty," MPRA Paper 53681, University Library of Munich, Germany.
- Hwang, In Chang & Reynès, Frédéric & Tol, Richard S.J., 2017. "The effect of learning on climate policy under fat-tailed risk," Resource and Energy Economics, Elsevier, vol. 48(C), pages 1-18.
- Maria Antonieta Cunha-e-Sa & Vasco Santos, 2007. "Experimentation with accumulation," Nova SBE Working Paper Series wp503, Universidade Nova de Lisboa, Nova School of Business and Economics.
- Cunha-e-Sa, Maria A. & Santos, Vasco, 2008. "Experimentation with accumulation," Journal of Economic Dynamics and Control, Elsevier, vol. 32(2), pages 470-496, February.
- Attanasi, Giuseppe Marco & Montesano, Aldo, 2010.
"Testing Value vs Waiting Value in Environmental Decisions under Uncertainty,"
TSE Working Papers
10-154, Toulouse School of Economics (TSE).
- Giuseppe Attanasi & Aldo Montesano, 2010. "Testing Value vs Waiting Value in Environmental Decisions under Uncertainty," LERNA Working Papers 10.01.307, LERNA, University of Toulouse.
- van den Bergh, Jeroen C.J.M., 2008. "Optimal diversity: Increasing returns versus recombinant innovation," Journal of Economic Behavior & Organization, Elsevier, vol. 68(3-4), pages 565-580, December.
- May Elsayyad & Florian Morath, 2016.
"Technology Transfers For Climate Change,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(3), pages 1057-1084, August.
- May Elsayyad & Florian Morath, 2013. "Technology Transfers for Climate Change," CESifo Working Paper Series 4521, CESifo.
- Morath, Florian & Elsayyad, May, 2014. "Technology transfers for climate change," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100396, Verein für Socialpolitik / German Economic Association.
- Lontzek, Thomas S. & Narita, Daiju, 2009. "The effect of uncertainty on decision making about climate change mitigation: a numerical approach of stochastic control," Kiel Working Papers 1539, Kiel Institute for the World Economy (IfW Kiel).
- Ingham, Alan & Ma, Jie & Ulph, Alistair, 2007. "Climate change, mitigation and adaptation with uncertainty and learning," Energy Policy, Elsevier, vol. 35(11), pages 5354-5369, November.
- van den Bergh, Jeroen C. J. M., 2004. "Optimal climate policy is a utopia: from quantitative to qualitative cost-benefit analysis," Ecological Economics, Elsevier, vol. 48(4), pages 385-393, April.
- Ha-Duong, Minh, 1998.
"Quasi-option value and climate policy choices,"
Energy Economics, Elsevier, vol. 20(5-6), pages 599-620, December.
- Minh Ha-Duong, 1998. "Quasi-option value and climate policy choices," Post-Print halshs-00002457, HAL.
- Michael Toman, 1998.
"Research Frontiers in the Economics of Climate Change,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 11(3), pages 603-621, April.
- Toman, Michael, 1998. "Research Frontiers in the Economics of Climate Change," RFF Working Paper Series dp-98-32, Resources for the Future.
- Toman, Michael, 1998. "Research Frontiers in the Economics of Climate Change," Discussion Papers 10507, Resources for the Future.
- Baranzini, Andrea & Chesney, Marc & Morisset, Jacques, 2003. "The impact of possible climate catastrophes on global warming policy," Energy Policy, Elsevier, vol. 31(8), pages 691-701, June.
More about this item
Keywords
Real options; Optimal stopping; Environmental policy; Emissions; Jump diffusion;All these keywords.
JEL classification:
- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:quaeco:v:53:y:2013:i:4:p:417-428. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620167 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.