The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Regulation by Prices, Quantities, or Both: A Review of Instrument Choice
Abstract
Choosing appropriate policy instruments is an important part of successful regulation. Once objectives are agreed and suitable targets adopted, policy-makers can employ command-and-control regulation and/or economic instruments, and choose between fixing a price or a quantity. This paper examines the relative advantages of price, quantity, and hybrid instruments according to: their efficiency under uncertainty; the trade-off between credible commitment and flexibility; implementation; international considerations; and political economy. Various illustrations of the theory are provided, with two detailed applications to climate change and transport policy, specifically congestion and ‘safety pricing’.
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Cites
Managing Permit Markets to Stabilize Prices
Newell, R., Pizer, W., & Zhang, J. (2005) · Environmental & Resource Economics · doi:10.1007/s10640-005-1761-y · Cited by 141
Cited by
Does carbon pricing reduce emissions? A review of ex-post analyses
Green, J. F. (2021) · Environmental Research Letters · doi:10.1088/1748-9326/abdae9 · Cited by 530
Natural or Synthetic—How Global Trends in Textile Usage Threaten Freshwater Environments
Stone, C., Windsor, F. M., Munday, M., & Durance, I. (2020) · Science of The Total Environment · doi:10.1016/j.scitotenv.2019.134689 · Cited by 173
Systematic review and meta-analysis of ex-post evaluations on the effectiveness of carbon pricing
Döbbeling-Hildebrandt, N., Miersch, K., Khanna, T. M., Bachelet, M., Bruns, S. B., Callaghan, M., Edenhofer, O., Flachsland, C., Forster, P. M., Kalkuhl, M., et al. (2024) · Nature Communications · doi:10.1038/s41467-024-48512-w · Cited by 164
The making of green steel in the EU: a policy evaluation for the early commercialization phase
Vogl, V., Åhman, M., & Nilsson, L. J. (2021) · Climate Policy · doi:10.1080/14693062.2020.1803040 · Cited by 119
Emissions trading systems with cap adjustments
Kollenberg, S., & Taschini, L. (2016) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2016.09.003 · Cited by 107
Roques, F., & Finon, D. (2017) · Energy Policy · doi:10.1016/j.enpol.2017.02.035 · Cited by 77
Zapf, M., Pengg, H., & Weindl, C. (2019) · Energies · doi:10.3390/en12152983 · Cited by 22
Karp, L. S., & Traeger, C. P. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3798938 · Cited by 10
Institutional Change and Environment: Lessons from the European Emission Trading System
Fernández Fernández, Y., Fernández López, M., González Hernández, D., & Olmedillas Blanco, B. (2018) · Energies · doi:10.3390/en11040706 · Cited by 9
Metadata
- Authors
- Hepburn, C.
- Venue
- Oxford Review of Economic Policy
- Publisher
- Oxford University Press (OUP)
- Published
- 2006-06-01
- Volume
- 22
- Issue
- 2
- Pages
- 226-247
- ISSN
- 0266-903X (ISSN-L)
- 1460-2121
- OpenAlex
- W2136010209
- Cited by
- 416
- References
- 1
- FWCI
- 23.89
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
