Pollution Permits: Efficiency by Design
The annual adverse effects of pollution are on the order of 10% of the world GDP. Many approaches are used or have been proposed to control the growing pollution problem, but none of them allows for efficient pollution control in settings in which the marginal cost of pollution is increasing and the polluters are better informed about the costs of abatement than regulators are. We propose a simple primary market mechanism that implements efficient pollution control and does not depend on how much information the regulators have about the abatement costs.
Date: 3 June 2022, 14:15 (Friday, 6th week, Trinity 2022)
Venue: Manor Road Building, Manor Road OX1 3UQ
Venue Details: Seminar Room C or Register for online
Speaker: Kyle Woodward (University of North Carolina)
Organising department: Department of Economics
Part of: Nuffield Economic Theory Seminar
Booking required?: Recommended
Booking url: https://zoom.us/meeting/register/tJUld-uhqz8uGN1RQmc5-vrnQWKAqocTa8Zd
Audience: Public
Editor: Emma Heritage