The Theory of Environmental Policy¶
Baumol, W. J., & Oates, W. E. (1988). The Theory of Environmental Policy. Cambridge University Press.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Distortion
- It also yields a general prediction: any deterministic distortion can in principle be pre-compensated by applying the inverse mapping at the source, the structural basis of equalization, dewarping, calibration, and Pigouvian taxation.
This sourceFormal development of Pigouvian taxation as a corrective applied at the source to cancel an externality-induced distortion.
- It also yields a general prediction: any deterministic distortion can in principle be pre-compensated by applying the inverse mapping at the source, the structural basis of equalization, dewarping, calibration, and Pigouvian taxation.
Mechanisms¶
- Pollution Pricing
- That is the classic corrective-tax logic — set the per-unit price at (or toward) the marginal external damage, and self-interested actors will cut pollution exactly to the point where their own abatement cost equals the price.
This sourceExplains the Pigouvian prescription of pricing pollution at marginal social damage so emitters internalize external costs and abate until marginal control cost equals the charge.
- That is the classic corrective-tax logic — set the per-unit price at (or toward) the marginal external damage, and self-interested actors will cut pollution exactly to the point where their own abatement cost equals the price.
Verification¶
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