The Effects of Irreversibilities on the Optimal Timing of Pollution Control Policies

DOI HANDLE Web Site オープンアクセス
  • 藤田 敏之
    Department of Economic Engineering, Faculty of Economics, Kyushu University

書誌事項

タイトル別名
  • Effects of Irreversibilities on the Optimal Timing of Pollution Control Policies

この論文をさがす

抄録

We construct a real option model in which government determines the timing of investment in pollution control and examine how irreversibilities affect the optimal investment decisions. Investment is assumed to be completely irreversible and its benefit (a value of damage parameter) is uncertain. Irreversibility of emissions is also considered. By comparing the optimal policies for various cases, we get the following results. Irreversibility of investment delays the optimal timing of policy implementation and this effect gets stronger as the degree of uncertainty increases. Irreversibility of emissions works for the opposite direction, but it does not depend on the degree of uncertainty.

収録刊行物

  • 經濟學研究

    經濟學研究 71 (4), 91-105, 2005-07-29

    九州大学経済学会

キーワード

詳細情報 詳細情報について

問題の指摘

ページトップへ