The economics of controlling stock pollutants: An efficient strategy for greenhouse gases

Journal Article · Thu Jul 01 04:00:00 EDT 1993 · Journal of Environmental Economics and Management; (United States)

DOI:https://doi.org/10.1006/jeem.1993.1027· OSTI ID:6151016

Falk, I ^[1]; Mendelsohn, R ^[2]

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1. Harvard Univ., Cambridge, MA (United States)
2. Yale Univ., New Haven, CT (United States)

Optimal control theory is applied to develop an efficient strategy to control stock pollutants such as greenhouse gases and hazardous waste. The optimal strategy suggests that, at any time, the marginal costs of abatement should be equated with the present value of the marginal damage of timely unabated emission. The optimal strategy calls for increasingly tight abatement over time as the pollutant stock accumulates. The optimal policy applied to greenhouse gases suggest moderate abatement efforts, at present, with the potential for much greater future efforts. 15 refs., 2 tabs.

• OSTI ID: 6151016
• Journal Information: Journal of Environmental Economics and Management; (United States), Journal Name: Journal of Environmental Economics and Management; (United States) Vol. 25:1; ISSN 0095-0696; ISSN JEEMDI
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290201* -- Energy Planning & Policy-- Economics-- (1992-)
290300 -- Energy Planning & Policy-- Environment
Health
& Safety
CLIMATIC CHANGE
CONTROL
CONTROL THEORY
ECONOMICS
GREENHOUSE EFFECT
GREENHOUSE GASES
OPTIMAL CONTROL
OPTIMIZATION
POLLUTION ABATEMENT
POLLUTION CONTROL