An Impossible Goal: When Trade Ratios Cannot Achieve No‐Net‐Loss.
I develop a model of environmental trade ratios with asymmetric information to explain why current policies fail to achieve goals of no‐net‐impact on the environment, as well as demonstrating that it may be impossible to achieve these goals. Environmental trade ratios (e.g., wetland mitigation ratio...
| Publicado en: | Southern Economic Journal Vol. 86; no. 4; pp. 1372 - 1393 |
|---|---|
| Autor principal: | |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Apr2020
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=142633379&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 142633379 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00384038 SEJ jtl: Southern Economic Journal issn: 00384038 maglogo: N pubinfo: dt: Apr2020 vid: 86 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 142633379 10.1002/soej.12423 ppf: 1372 ppct: 21 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 421KB tig: atl: An Impossible Goal: When Trade Ratios Cannot Achieve No‐Net‐Loss. aug: au: Globus‐Harris, Isla affil: Department of Economics, Colgate University, j13 Oak Drive, Hamilton New York, 13346, , USA su: Information asymmetry Commerce Wetland mitigation Carbon offsetting sug: subj: Information asymmetry Commerce Wetland mitigation Carbon offsetting ab: I develop a model of environmental trade ratios with asymmetric information to explain why current policies fail to achieve goals of no‐net‐impact on the environment, as well as demonstrating that it may be impossible to achieve these goals. Environmental trade ratios (e.g., wetland mitigation ratios or carbon offset discounting) typically have the goal of no‐net environmental impact; however, these goals are not always met. First, I demonstrate that it is sometimes impossible for trade ratios to achieve no‐net‐impact on the environment. Second, I provide sufficient conditions for the existence of a neutral trade ratio. Next, I show that naïve methods for setting ratios (which do not consider market responses) will fail to meet policy goals. Finally, I demonstrate how a simple updating procedure can adjust ratios toward no‐net‐impact even when policy makers have minimal information. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|