Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Environmental Policy 2 Location: D-105 Session Chair: Cristian Huse, University of Oldenburg | |
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Standards and Technology Innovation with Search University of Valencia, Spain This paper examines optimal environmental regulation based on emission or performance standards in the presence of consumer search and firm innovation. With an exogenous market structure, we find that the emission and performance standards lead to the same equilibrium level of innovation, which decreases in the number of firms in a Schumpeterian way, and these two policy tools are equivalent in terms of total welfare but not in distributional terms because they give rise to different levels of consumer and producer surplus. Here, low search costs can lead to price-increasing competition for concentrated industries. With an endogenous market structure, the two regulatory instruments lead to different levels of total welfare, they both yield excessive firm entry, and the magnitude of the inefficiency from excessive entry is relatively greater under the emission standard. | |