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| Author: | Hartl, R. Kort, P. |
| Title: | Optimal input substitution of a firm facing an environmental constraint |
| Journal: | European Journal of Operational Research
1997 : JUN, VOL. 99:2, p. 336-352 |
| Index terms: | OPERATIONAL RESEARCH OPTIMAL CONTROL THEORY ENVIRONMENT |
| Language: | eng |
| Abstract: | In this paper, the authors consider the dynamic behavior of a firm subject to environmental regulation. As a social planner the government wants to reduce the level of pollution. To reach that aim it can, among others, set an upper limit on polluting emissions of the firm. The paper determines how this policy instrument influences the firm's decisions concerning investments, abatement efforts, and the choice whether to leave some capacity unused or not. The abatement process is modeled as input substitution rather than end-of-pipe. |
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