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Protecting the environment when costs and benefits are privately known

dc.contributor.author Lewis, TR
dc.date.accessioned 2010-03-09T15:43:21Z
dc.date.issued 1996-12-01
dc.identifier.issn 0741-6261
dc.identifier.uri https://hdl.handle.net/10161/2068
dc.description.abstract I analyze different approaches for protecting the environment when stakeholders are privately informed about the costs and benefits of pollution reduction. The presence of asymmetric information calls for some important departures from the textbook prescriptions of marketable permits and emission taxes for controlling pollution. For instance, it may no longer be optimal to equate the social marginal benefits to the marginal cost of cleanup in determining appropriate abatement levels. I conclude this review with some suggestions for future research in this area.
dc.format.mimetype application/pdf
dc.language.iso en_US
dc.publisher Wiley
dc.relation.ispartof RAND Journal of Economics
dc.title Protecting the environment when costs and benefits are privately known
dc.type Journal article
duke.contributor.id Lewis, TR|0288071
pubs.begin-page 819
pubs.end-page 847
pubs.issue 4
pubs.organisational-group Duke
pubs.organisational-group Economics
pubs.organisational-group Fuqua School of Business
pubs.organisational-group Trinity College of Arts & Sciences
pubs.publication-status Published
pubs.volume 27


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