Pigouvian taxation under double moral hazard

Article Abstract:

A study on deriving optimum pollution taxes under conditions where production is carried out under vertical contractual agreements that are characterized by conditions of double moral standard is presented. Imposing a Pigouvian tax equal to the marginal cost of pollution on either the upstream or the downstream agent or in the industry, as a whole does not lead to the first best level of pollution. On the contrary, the industry should pay for less than the full cost of environmental pollution. Also under the conditions of double moral hazard both agents should be taxed.

United States, Science & research, Taxation

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Neoclassical growth, the J curve for abatement, and the inverted U curve for pollution

Article Abstract:

B.A. Forster's neoclassical environmental growth model is analyzed to understand the dynamic relationships involving pollution, abatement effort, and economic development. The model, which has previously been used in the analysis of steady-state levels of capital, consumption, and environmental quality, offers a theoretical foundation for recent empirical research on J curves for abatement effort and inverted U curves for pollution.

Environmental economics

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Risk sharing in Cosean contracts

Article Abstract:

Under the Coasean contracts pollution levels allowed depend on the agents risk appetites and on the initial configuration of property rights and bargaining power. The emissions create a financial risk when pollution damages are Stochastic.

Coase theorem

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