Model, Model on the Screen, What's the Cost of Going Green?

Hadi Dowlatabadi, David Boyd and Jamie MacDonald

RFF Working Paper Series from Resources for the Future

Abstract: How much a policy is expected to cost and who bears the brunt of that cost play a significant role in the debates that shape regulations. We do not have a good track record of predicting costs and their ultimate distribution, but systematic reviews of past assessments have identified some of the factors that lead to errors. A wide range of expected costs of climate policy have been hotly debated, but all are likely to be wrong. This does not mean that we should continue a debate using ill-informed analyses. On the contrary, we need early small experiments to shed light on key unknowns. Environmental stewardship is a long-term challenge and an adaptive regulatory approach promises to inform policy targets and improve controls through sequential regulatory phases that promote: innovation, flexibility and diffusion of best technologies.

Keywords: cost estimation; climate policy; modeling; adaptive management (search for similar items in EconPapers)
JEL-codes: D21 D82 D83 F13 O31 (search for similar items in EconPapers)
Date: 2004-04-08
New Economics Papers: this item is included in nep-ene and nep-env
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