Protecting the Environment When Costs and Benefits are Privately Known Export

@article{citeulike:1620736, 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.}, author = {Lewis, Tracy R.}, citeulike-article-id = {1620736}, citeulike-linkout-0 = {http://www.jstor.org/stable/2555884}, journal = {The RAND Journal of Economics}, keywords = {2dimensional, bayesian\_updating, discrimination, environmental\_economics}, number = {4}, pages = {819--847}, posted-at = {2007-09-04 20:22:23}, priority = {2}, title = {Protecting the Environment When Costs and Benefits are Privately Known}, url = {http://www.jstor.org/stable/2555884}, volume = {27}, year = {1996} }

TY - JOUR ID - citeulike:1620736 L3 - citeulike-article-id:1620736 N2 - 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. IS - 4 JF - The RAND Journal of Economics EP - 847 TI - Protecting the Environment When Costs and Benefits are Privately Known VL - 27 SP - 819 KW - 2dimensional KW - bayesian_updating KW - discrimination KW - environmental_economics AU - Lewis, Tracy PY - 1996/// UR - http://www.jstor.org/stable/2555884 ER -