Monthly Archives: April 2009

Does economic analysis shortchange the future?

Decisions made today usually have impacts both now and in the future. In the environmental realm, many of the future impacts are benefits, and such future benefits — as well as costs — are typically discounted by economists in their … Continue reading

Posted in Climate Change Policy, Energy Economics, Energy Policy, Environmental Economics, Environmental Policy | 1 Comment

What Baseball Can Teach Policymakers

With the Major League Baseball season having just begun, I’m reminded of the truism that the best teams win their divisions in the regular season, but the hot teams win in the post-season playoffs.  Why the difference?  The regular season … Continue reading

Posted in Environmental Economics, Environmental Policy

The Making of a Conventional Wisdom

Despite the potential cost-effectiveness of market-based policy instruments, such as pollution taxes and tradable permits, conventional approaches –  including design and uniform performance standards – have been the mainstay of U.S. environmental policy since before the first Earth Day in … Continue reading

Posted in Environmental Economics, Environmental Policy | 9 Comments

Moving Beyond Vintage-Differentiated Regulation

A common feature of many environmental policies in the United States is vintage-differentiated regulation (VDR), under which standards for regulated units are fixed in terms of the units’ respective dates of entry, with later vintages facing more stringent regulation.  In … Continue reading

Posted in Environmental Economics, Environmental Policy, Positive Political Economy