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Policy-induced technology adoption: Evidence from the U.S. lead phasedown

dc.contributor.author Kerr, S
dc.contributor.author Newell, Richard G
dc.date.accessioned 2014-09-05T16:27:08Z
dc.date.issued 2003-09-01
dc.identifier.issn 0022-1821
dc.identifier.uri https://hdl.handle.net/10161/9131
dc.description.abstract Theory suggests that economic instruments, such as pollution taxes or tradable permits, can provide more efficient technology adoption incentives than conventional regulatory standards. We explore this issue for an important industry undergoing dramatic decreases in allowed pollution - the U.S. petroleum industry's phasedown of lead in gasoline. Using a duration model applied to a panel of refineries from 1971-1995, we find that the pattern of technology adoption is consistent with an economic response to market incentives, plant characteristics, and alternative policies. Importantly, evidence suggests that the tradable permit system used during the phasedown provided incentives for more efficient technology adoption decisions.
dc.relation.ispartof Journal of Industrial Economics
dc.title Policy-induced technology adoption: Evidence from the U.S. lead phasedown
dc.type Journal article
pubs.begin-page 317
pubs.end-page 343
pubs.issue 3
pubs.organisational-group Duke
pubs.organisational-group Economics
pubs.organisational-group Environmental Sciences and Policy
pubs.organisational-group Nicholas School of the Environment
pubs.organisational-group Trinity College of Arts & Sciences
pubs.publication-status Published
pubs.volume 51


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