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01451 am a22002173u 4500 |
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85639 |
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|a dc
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|a Parsons, John E.
|e author
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|a Sloan School of Management
|e contributor
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|a Parsons, John E.
|e contributor
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|a Taschini, Luca
|e author
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|a The Role of Stocks and Shocks Concepts in the Debate Over Price Versus Quantity
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| 260 |
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|b Springer-Verlag,
|c 2014-03-14T17:50:34Z.
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| 856 |
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|z Get fulltext
|u http://hdl.handle.net/1721.1/85639
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|a Recent literature showed that the choice between a price or quantity control depends, in part, on the dynamic structure of cost uncertainty. Temporary shocks to abatement cost favors the use of a price control, while permanent shocks favor a quantity control. Unfortunately, the importance of this assumption to the optimal choice has not yet received wide attention among economists. We analyze the regulatory problem in an alternative setting and reproduce these results. Our contribution is the simplicity of the model and the accessibility of the results, which reinforce the critical role played by the assumed structure of uncertainty.
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|a MIT Center for Energy and Environmental Policy Research
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|a Massachusetts Institute of Technology. Joint Program on the Science & Policy of Global Change
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|a Doris Duke Charitable Foundation
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|a en_US
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|a Article
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| 773 |
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|t Environmental and Resource Economics
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