Prices versus Quantities with Policy Updating
Prices versus Quantities with Policy Updating
复制标题
政策更新时的价格与数量
DOI：
10.1086/707142
复制
发表时间：
2016
影响因子：
3.6
通讯作者：
Brian C. Prest
中科院分区：
文献类型：
--
作者：
W. Pizer;Brian C. Prest
魏茨曼指出，当政策在不确定性冲击已知之前制定时，价格相对于数量监管的福利优势取决于边际成本和收益的相对斜率。随着时间的推移，策略更新会改变这一结果。在临时可交易数量管制下，许可证价格由企业对未来政策更新的预期决定，价格相对于数量的优势取决于企业对政策变化的预期。如果企业准确地预测政策变化，政府实现福利最大化，数量管制就能达到第一个最好的效果。缺乏跨期联系的价格监管是不可能的。在更现实的假设下，偏好向价格倾斜，在这些假设中，政府制定政策的效率低下，或者企业对政策变化的预期不完美。一般来说，优势取决于信息和预期，而不是相对斜率。考虑到跨期交易许可和政策更新的盛行，我们的结果表明在价格和数量监管之间的选择方面有新的考虑。
Weitzman shows that the welfare advantage of price versus quantity regulation turns on the relative slopes of marginal costs and benefits when policy is set before uncertain shocks are known. Policy updating over time changes this result. Under intertemporally tradable quantity regulation, permit prices are determined by firms’ expectations about future policy updates, and the advantage of prices versus quantities instead turns on firms’ expectations of policy changes. If firms accurately predict policy changes and the government maximizes welfare, quantity regulation can achieve the first best. Price regulation, lacking an intertemporal link, cannot. The preference tilts back toward prices under more realistic assumptions where governments set policy inefficiently or firms imperfectly anticipate policy changes. In general, the advantage turns on information and expectations, not relative slopes. Given the prevalence of intertemporally tradable permits and policy updates, our results suggest new considerations in the choice between price and quantity regulation.
理性预期可以排除可交易的排放许可证
DOI：
--
发表时间：
2002
期刊：
Book of Abstracts. The Third International Conference of Public Economic Theory (PET02), Paris (France)
影响因子：
--
作者：
K.Horie;T.Matsuhisa;T.Matsuhisa;Emiko Fukuda;Ryuichiro Ishikawa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi MATSUHISA;Takashi Matsuhisa;Takashi Matsuhisa;Takashi MATSUHISA;Takashi Matsuhisa;Ryuichiro Ishikawa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi Matsuhisa;Takashi Matsuhisa
通讯作者：
Takashi Matsuhisa