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{"id":8096,"date":"2014-05-13T19:37:53","date_gmt":"2014-05-13T19:37:53","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?page_id=8096"},"modified":"2014-10-16T14:28:30","modified_gmt":"2014-10-16T14:28:30","slug":"market-based-instruments-and-environmental-policies","status":"publish","type":"page","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/research\/market-based-instruments-and-environmental-policies\/","title":{"rendered":"Market-based instruments and environmental policies"},"content":{"rendered":"\n

Choosing appropriate policy instruments is an important element of successful regulation, including on climate change. 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 research stream investigates the relative advantages of price, quantity, and hybrid instruments for reducing carbon emissions focusing on the following areas: efficiency under uncertainty; the trade-off between credible commitment and flexibility; implementation; international considerations; and political economy.<\/p>\n

Publications:<\/strong><\/p>\n

Comendant, C., Taschini, L., 2014 Submission to the inquiry by the House of Commons Select Committee on Energy and Climate Change on ‘Linking Emissions Trading Systems’. <\/em>Link to paper<\/a>
\n<\/em><\/p>\n

Grüll, G., Taschini, L., 2011. Cap-and-trade properties under different hybrid scheme designs. Journal of Environmental Economics and Management<\/em>, 61 (1) pp.107–118. External link to paper

Parsons, J., Taschini, L., 2013. The role of stocks and shocks concepts in the debate over price vs. quantity. Environmental and Resource Economics<\/em>, May 2013, Volume 55, Issue 1, pp 71-86
\n– External link to published paper
\n– Link to 2011 working paper<\/a><\/p>\n

Taschini, L., Chesney, M., Wang, M., 2014. Experimental comparison between markets on dynamic permit trading and investment in irreversible abatement with and without non-regulated companies. Journal of Regulatory Economics<\/em>, 46 (1) pp.23-50. External link to paper

Grull, G., Taschini, L., 2012. Linking emissions trading schemes. Economics of Energy & Environmental Policy<\/em>, 1 (3), pp.31-38. External link to paper