Sustainability in Uncertain Economies

Agliardi, Elettra

doi:10.1007/s10640-010-9398-x

Cited by 13 publications

(3 citation statements)

References 35 publications

(30 reference statements)

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“…Moreover, in our model the regulator's objective function differs from the usual Pindyck (2000, 2002) social damage, because it takes into account both the firms' profits, the consumers' surplus, the social damage from pollution and the net governmental revenues from the environmental policies, allowing us to discuss the implications of the above policy interventions (i.e., taxes, emission standards, auctioned permits and freely allocated permits) from the point of view of social welfare. Our paper extends and generalizes previous work on uncertainty affecting the policies to control pollution (i.e., Conrad, 2000; Pindyck, 2000, 2002; Saphores and Carr, 2000; Xepapadeas, 2001; Van Soest, 2005; Nishide and Ohyama, 2009; Agliardi, 2011) by considering an industry in which firms compete à la Cournot, while the above-mentioned papers have been concerned with a purely decision-theoretic framework. Since our analysis compares four policy instruments, it is also more exhaustive than most of them.…”

Section: Introductionsupporting

confidence: 59%

Environmental protection, public finance requirements and the timing of emission reductions

Agliardi

Sereno

2012

Envir. Dev. Econ.

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The effects of four environmental policy options for the reduction of pollution emissions, i.e. taxes, emission standards, auctioned permits and freely allocated permits, are analyzed. The setup is a real option model where the amount of emissions is determined by solving the firm's profit maximization problem under each policy instrument. The regulator solves an optimal stopping problem in order to find the critical threshold for policy adoptions taking into account revenues from taxes and auctioned permits and government spending. In this framework we find the ranking of the alternative policy options in terms of their adoption lag and social welfare. We show that when the output demand is elastic, emission standards are preferred to freely allocated permits. Taxes and auctioned permits are always equivalent in terms of their adoption lag and social welfare, and also equivalent to emission standards when the regulator redistributes revenues.

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Section: Introductionsupporting

confidence: 59%

Environmental protection, public finance requirements and the timing of emission reductions

Agliardi

Sereno

2012

Envir. Dev. Econ.

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“…There are various indicators and assessment methodologies for evaluating in practice the performance of industries, cities and countries, at global, national and regional level, related to economic and environmental sustainability (see e.g. Singh et al 2012, providing a recent overview of a great number of indicators that are already common practice for policy-making; Blanchet and Fleurbaey 2013, which favor a dimension by dimension dashboard approach; Xepapadeas and Vouvaki 2008;Agliardi 2011;Pinar et al 2014;Agliardi et al 2015, for detailed discussions of environmental sustainability). In this paper we propose a novel methodology which allows us to assess temporal trends and industry contributions to air and water pollution and to identify the cases where externalities affect the overall pollution.…”

Section: Introductionmentioning

confidence: 99%

Air and water pollution over time and industries with stochastic dominance

Agliardi

Pinar

Stengos

2016

Stoch Environ Res Risk Assess

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We employ a stochastic dominance (SD) approach to analyze the components that contribute to environmental degradation over time. The variables include countries' greenhouse gas (GHG) emissions and water pollution. Our approach is based on pair-wise SD tests. First, we study the dynamic progress of each separate variable over time, from 1990 to 2005, within 5-year horizons. Then, pair-wise SD tests are used to study the major industry contributors to the overall GHG emissions and water pollution at any given time, to uncover the industry which contributes the most to total emissions and water pollution. While CO 2 emissions increased in the firstorder SD sense over 15 years, water pollution increased in a second-order SD sense. Electricity and heat production were the major contributors to the CO 2 emissions, while the food industry gradually became the major water polluting industry over time.

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“…Non-renewability of the population distinguishes the present model from the conventional ones for renewable resources. Several researchers have approached optimal management of non-renewable resources from social and economic viewpoints indicating their high importance [3,16,18,35,37,50,63].…”

Section: Introductionmentioning

confidence: 99%

Stochastic differential game for management of non-renewable fishery resource under model ambiguity

Yoshioka

Yaegashi

2018

Journal of Biological Dynamics

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A new bio-economic model for managing population of nonrenewable inland fishery resource in uncertain environment is presented. Population dynamics of the resource is described with stochastic differential equations (SDEs) having ambiguous growth and mortality rates. The performance index to be maximized by the manager of the resource while minimized by nature is presented in the context of differential game theory. The dynamic programming principle leads to a Hamilton-Jacobi-Bellman-Isaacs (HJBI) equation that governs the optimal resource management strategy under the ambiguity. The main contribution of this paper is a series of theoretical analysis on the reduced HJBI equation for non-renewable fishery resources in a broad sense, indicating that the ambiguity critically affects the resulting optimal controls. Practical implications of the theoretical analysis results are also presented focusing on artificially hatched Plecoglossus altivelis (Ayu), an important inland fishery resource in Japan. ARTICLE HISTORY

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Sustainability in Uncertain Economies

Abstract: Comprehensive wealth, Project evaluation, Resilience, Sustainable development, Uncertainty,

Cited by 13 publications

References 35 publications

Environmental protection, public finance requirements and the timing of emission reductions

Environmental protection, public finance requirements and the timing of emission reductions

Air and water pollution over time and industries with stochastic dominance

Stochastic differential game for management of non-renewable fishery resource under model ambiguity

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