Taxes versus quotas for a stock pollutant

  title={Taxes versus quotas for a stock pollutant},
  author={Michael Hoela and Larry Karpb},
  • Michael Hoela, Larry Karpb
  • Published 1998
We compare the effects of taxes and quotas for an environmental problem in which the regulator and polluter have asymmetric information about abatement costs, and the environmental damage depends on the stock of pollution. We thus extend to a dynamic framework previous studies in which environmental damages depend on the flow of pollution. As with the static analysis, taxes are more likely to dominate quotas the greater is the curvature of the abatement cost function relative to the… CONTINUE READING
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