UNCERTAINTY AVERSION AND PORTFOLIO INERTIA
In: Bulletin of economic research, Band 64, Heft 3, S. 334-343
ISSN: 1467-8586
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In: Bulletin of economic research, Band 64, Heft 3, S. 334-343
ISSN: 1467-8586
In: Environmental and resource economics, Band 47, Heft 2, S. 173-196
ISSN: 1573-1502
In: Mathematical social sciences, Band 52, Heft 3, S. 223-232
In this paper, we consider a problem in environmental policy design by applying optimal stopping rules. The purpose of this paper is to analyze the optimal timings at which the government should adopt environmental policies to deal with increases in greenhouse gas concentrations and to reduce emissions of SO2 or CO2 under the continuous-time Knightian uncertainty. Furthermore, we analyze the effects of increases in Knightian uncertainty on optimal environmental policies and the reservation value.
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In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 47, Heft 3, S. 889-904
ISSN: 1540-5982
AbstractThis paper analyzes the situation in which a national government introduces environmental regulations. Within the framework of an international duopoly with environmental regulations, an environmental tax imposed by the government in the home country can induce a foreign firm with advanced abatement technology to license it to a domestic firm without this technology. Furthermore, when the domestic firm's production technology is less efficient than that of the foreign firm, the foreign firm may freely reveal its technology to the domestic firm. These improvements through the voluntary transfer of technology imply that environmental regulations have positive impacts on innovation.
In: Environment and development economics, Band 19, Heft 5, S. 529-547
ISSN: 1469-4395
AbstractIn this paper, we develop a simple two-period model of natural capital investment under Knightian uncertainty and analyze the effects of changes in the degree of ambiguity on the optimal natural capital investment. We find that the degree of Knightian uncertainty affects a government's natural capital investment. Moreover, we find that the direction of the effect of the Knightian uncertainty depends on the nature of uncertainty, that is, on whether the uncertainty is about the future level of natural capital or about the return from saving.
This paper analyzes the situation in which a national government introduces environmental regulations. Within the framework of an international duopoly with environmental regulations, this paper shows that an environmental tax imposed by the government in the home country can induce a foreign firm with advanced abatement technology to license it to a domestic firm without this technology. Furthermore, when the domestic firm's production technology is less efficient than that of the foreign firm, the foreign firm may freely reveal its technology to the domestic firm. These improvements through the voluntary transfer of technology support the Porter hypothesis, which states that environmental regulations have positive impacts on innovation.
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In: ISER Discussion Paper No. 862
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In: JBF-D-24-00125
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In: Journal of economics, Band 141, Heft 1, S. 29-56
ISSN: 1617-7134
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In: Journal of institutional and theoretical economics: JITE, Band 171, Heft 2, S. 372
ISSN: 1614-0559
In: IZA Discussion Paper No. 7933
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