search query: @author Pizer, W. A. / total: 4
reference: 3 / 4
| Author: | Pizer, W. A. |
| Title: | Combining price and quantity controls to mitigate global climate change |
| Journal: | Journal of Public Economics
2002 : SEP, VOL. 85:3, p. 409-434 |
| Index terms: | Pollution Costs Decision making Equilibrium analysis |
| Freeterms: | Climate change General equilibrium modeling |
| Language: | eng |
| Abstract: | Simulations based on a stochastic computable general equilibrium model indicate that the expected welfare gain from the optimal price policy is five times higher than the expected gain from the optimal quantity policy. An alternative hybrid policy combines both the political appeal of quantity controls with he efficiency of prices, using an initial distribution of tradeable permits to set a quantitative target, but allowing additional permits to be purchased at a fixed "trigger" price. |
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