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Media type:
E-Article
Title:
When Should Uncertain Nonpoint Emissions Be Penalized in a Trading Program?
Contributor:
Hennessy, David A.;
Feng, Hongli
Published:
Wiley, 2008
Published in:
American Journal of Agricultural Economics, 90 (2008) 1, Seite 249-255
Language:
English
DOI:
10.1111/j.1467-8276.2007.01043.x
ISSN:
0002-9092;
1467-8276
Origination:
Footnote:
Description:
AbstractWhen nonpoint source pollution is stochastic and the damage function is convex, intuition might suggest it is more important to control a nonpoint pollution source than a point source. Earlier research has provided sufficient conditions such that the permit price for a unit of ex‐ante expected emissions should be higher than the permit price for a unit of certain emissions. Herein we provide a set of necessary and sufficient conditions such that this is the case. An approach to testing for the validity of the condition set is available, and has been applied to a related problem.