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Uncertainty in optimal pollution levels: modelling and evaluating the benefit area

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  • George E. Halkos
  • Dimitra C. Kitsou

Abstract

This paper identifies the optimal pollution level under the assumptions of linear, quadratic and exponential damage and abatement cost functions and investigates analytically the certain restrictions that the existence of this optimal level requires. The evaluation of the benefit area is discussed and the mathematical formulation provides the appropriate methods for that to be calculated. The positive, at least from a theoretical point of view, is that both the quadratic and the exponential case obey the same form for evaluating the benefit area. These benefit area estimations can be used as indexes between different rival policies, and depending on the environmental problem, the policy that produces the maximum area will be the beneficial policy.

Suggested Citation

  • George E. Halkos & Dimitra C. Kitsou, 2015. "Uncertainty in optimal pollution levels: modelling and evaluating the benefit area," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 58(4), pages 678-700, April.
    • Handle: RePEc:taf:jenpmg:v:58:y:2015:i:4:p:678-700
    DOI: 10.1080/09640568.2014.881333
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    References listed on IDEAS

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    1. Stavros Georgiou & Dale Whittington & David Pearce & Dominic Moran, 1997. "Economic Values and the Environment in the Developing World," Books, Edward Elgar Publishing, number 1163.
    2. Pizer, William, 2003. "Climate Change Catastrophes," RFF Working Paper Series dp-03-31, Resources for the Future.
    3. Edward B. Barbier, 1998. "The Economics of Environment and Development," Books, Edward Elgar Publishing, number 1363.
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    Cited by:

    1. Halkos, George & Kitsos, Christos, 2018. "Mathematics vs. Statistics in tackling Environmental Economics uncertainty," MPRA Paper 85280, University Library of Munich, Germany.
    2. George E. Halkos & Dimitra C. Kitsou, 2018. "Weighted location differential tax in environmental problems," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 20(1), pages 1-15, January.
    3. Halkos, George & Kitsos, Christos, 2018. "Uncertainty in environmental economics: The problem of entropy and model choice," Economic Analysis and Policy, Elsevier, vol. 60(C), pages 127-140.

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