全球智库信息集成服务系统(G2TT): Double Irreversibility and Environmental Policy Design

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Double Irreversibility and Environmental Policy Design
	Aude Pommeret; Fabien Prieur
发表日期	2009
出处	Climate Change and Sustainable Development
出版年	2009
语种	英语
摘要	The design of environmental policy typically takes place within a framework in which uncertainty over the future impact of pollution and two different kinds of irreversibilities interact. The first kind of irreversibility concerns the sunk cost of environmental degradation; the second is related to the sunk cost of environmental policy. Clearly, the two irreversibilities pull in opposite directions: policy irreversibility leads to more pollution and a less/later policy while environmental irreversibility generates less pollution and a more/sooner policy. Using a real option approach and an infinite time horizon model, this paper considers both irreversibilities simultaneously. The model first is developed by paying particular attention to the option values related to pollution and policy adoption. Solving the model in closed form then provides solutions for both the optimal pollution level and the optimal environmental policy timing. Finally, the model is "calibrated" with the purpose of appraising which irreversibility has the prevailing effect and what is the overall impact of both irreversibilities on pollution and policy design.
特色分类	Q58,D81
关键词	Environmental Policy,Environmental Irreversibility,Policy Irreversibility
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/double-irreversibility-and-environmental-policy-design/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/117688
推荐引用方式 GB/T 7714	Aude Pommeret,Fabien Prieur. Double Irreversibility and Environmental Policy Design. 2009.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
NDL2009-010.pdf（291KB）	智库出版物		限制开放	CC BY-NC-SA	浏览