Benefit-cost analysis of air pollution, energy, and climate regulations / Kerry Krutilla, John D. Graham.

Format:

Book

Author/Creator:

Krutilla, Kerry, author.

Graham, John D., author.

Series:

Cambridge elements. Elements in public economics, 2516-2276.

Cambridge elements. Elements in public economics, 2516-2276

Language:

English

Subjects (All):

Air quality management--Economic aspects.

Air quality management.

Energy conservation--Economic aspects.

Energy conservation.

Climate change mitigation--Economic aspects.

Climate change mitigation.

Physical Description:

1 online resource (78 pages) : digital, PDF file(s).

Edition:

1st ed.

Place of Publication:

Cambridge : Cambridge University Press, 2023.

Summary:

This title reviews and synthesizes the research on economic methods for evaluating regulations that improve air quality, save energy, and reduce climate risks. It also offers perspective on the relevance and limitations of current research for applied benefit-cost analysis.

Contents:

Cover

Title page

Copyright page

Benefit-Cost Analysis of Air Pollution, Energy, and Climate Regulations

Contents

1 Introduction

2 The Evolution of Regulatory Impact Analysis

2.1 Introduction

2.2 Evolution of Regulatory Impact Assessment in the United States

2.3 Evolution of Regulatory Impact Assessment in Europe

2.4 Comparing Regulatory Impact Assessment Requirements in Europe and the United States

3 Regulatory Cost Estimation

3.1 Introduction

3.2 Estimating Abatement Costs

3.3 Behavioral Effects and Partial Equilibrium Costs

3.4 Distorted Secondary Markets and General Equilibrium Modeling

3.4.1 Effects of Tax Interactions

3.4.2 Firm Heterogeneity and Differentiated Products

4 Benefits of Air, Energy, and Climate Regulations

4.1 Introduction

4.2 Benefit Valuation Pathways

4.3 Economic Value of Reducing Risk of Illness and Premature Death

4.4 Pricing Greenhouse Gas Emissions

4.4.1 The Social Cost of Carbon

4.4.2 The Target-Consistent Carbon Price

4.4.3 Comparison of the Two Methods

5 Discounting for Regulatory Evaluation

5.1 Introduction

5.2 The Market-Based CDR

5.3 The Ramsey Discounting Approach

5.4 The Social Opportunity Cost of Capital

5.4.1 The SOC and Weighted Cost-of-Capital Method

5.4.2 Shadow Price of Capital

5.5 On-Budget versus Off-Budget Financing

5.6 Dichotomizing Efficiency and Intergenerational Equity

6 Distributional Effects

6.1 Introduction

6.2 The Burden of Regulations on the Supply Side

6.3 The Burden of Regulations on Consumers

6.4 The Distribution of Pollution Rents

6.5 The Distribution of Benefits

7 Uncertainty Evaluation

7.1 Introduction

7.2 Uncertainty Levels

7.3 Methods for Addressing Parameter Uncertainty in Reasonably Well-Accepted Models

7.3.1 Deterministic Sensitivity Analysis.

7.3.2 Uncertainty Propagation Methods

7.3.3 Real Options

7.4 Methods When Uncertainty Is More Fundamental

7.4.1 Research Synthesis

7.4.2 Precautionary Decision Criteria and Modeling Deep Uncertainty

8 Conclusion

8.1 RIA Evolution

8.2 Cost Analysis

8.3 Benefits

8.4 Discounting

8.5 Distributional Assessment

8.6 Uncertainty Evaluation

References

Acknowledgments.

Notes:

Also issued in print: 2023.

Includes bibliographical references.

Description based on online resource; title from PDF title page (viewed on May 24, 2023).

ISBN:

9781009195263

1009195263

9781009195270

1009195271

9781009189460

1009189468

Access Restriction:

Open access. Unrestricted online access