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  1. Optimal environmental policy design in the presence of uncertainty and technology spillovers
    Autor*in: Himmes, Patrick; Weber, Christoph
    Erschienen: 2011
    Verlag:  University of Duisburg-Essen, Chair for Management Science and Energy Economics, Essen

    The stylized model presented in this paper extends the approach developed by Fischer and Newell (2008) by analysing the optimal policy design in a context with more than one externality while taking explicitly into account uncertainty surrounding... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 481 (02/11)
    Fernleihe:
    keine Fernleihe

     

    The stylized model presented in this paper extends the approach developed by Fischer and Newell (2008) by analysing the optimal policy design in a context with more than one externality while taking explicitly into account uncertainty surrounding future emission damage costs. In the presence of massive uncertainties and technology spillovers, well-designed sup-port mechanisms for renewables are found to play a major role, notably as a means for compensating for technology spillovers, yet also for reducing the investors' risks. How-ever, the design of these support mechanisms needs to be target-aimed and well-focused. Besides uncertainty on the state of the world concerning actual marginal emission damage, we consider the technological progress through R&D as well as learning-by-doing. A portfolio of three policy instruments is then needed to cope with the existing externalities and optimal instrument choice is shown to be dependent on risk aversion of society as a whole as well as of entrepreneurs. To illustrate the role of uncertainty for the practical choice of policy instruments, an em-pirical application is considered. The application is calibrated to recent global data from IEA and thus allows identifying the main drivers for the optimal policy mix. In addition to assumptions on technology costs and uncertainty of emission damage cost, the importance of technology spillover clearly plays a key role. Yet under some plausible parameter settings, direct subsidies to production are found to be of lower importance than very substantial R&D supports.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/103279
    Schriftenreihe: EWL Working Paper ; 02/11
    Schlagworte: Externality; technology; learning; uncertainty; climate change; spillover; renewable energy; policy
    Umfang: Online-Ressource ([1], II, 17 S.), graph. Darst.
  2. Independence axioms for water allocation
    Erschienen: 2011

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 432 (2011,128)
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/87528
    Schriftenreihe: Array ; 2011,128
    Schlagworte: Water allocation; Harmon doctrine; Concave benefit function; Stability; Externality; Independence axiom; Water claim
    Umfang: Online-Ressource (29 S.)