About: Environmental Policy Uncertainty and Marketable Permit Systems: The Dutch Phosphate Quota Program

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Attributs	Valeurs
type	work Article
Is Part Of	http://hub.abes.fr/oup/periodical/ajae/2006/volume_88/issue_1/w
Subject	Articles policy risk real options switching regression model transaction cost http://zbw.eu/beta/external_identifiers/jel#g130 http://zbw.eu/beta/external_identifiers/jel#q580 jump-diffusion tradable permits
Title	Environmental Policy Uncertainty and Marketable Permit Systems: The Dutch Phosphate Quota Program
has manifestation of work	http://hub.abes.fr/oup/periodical/ajae/2006/volume_88/issue_1/101111j14678276200600836x/m/print http://hub.abes.fr/oup/periodical/ajae/2006/volume_88/issue_1/101111j14678276200600836x/m/web
related by	http://hub.abes.fr/oup/periodical/ajae/2006/volume_88/issue_1/101111j14678276200600836x/authorship/1 http://hub.abes.fr/oup/periodical/ajae/2006/volume_88/issue_1/101111j14678276200600836x/authorship/2
Author	Wossink Ada Gardebroek Cornelis
Abstract	Tradable permits are generally considered as an efficient instrument to regulate pollution by individual producers. However, uncertainty about changes in or possible discontinuation of the program could make individual farmers reluctant to invest in tradable permits. This article uses the option approach to derive a theoretical model that shows the impact of policy uncertainty on investment in tradable quota. The empirical assessment provides weak evidence for the existence of option values due to policy uncertainty for phosphate quota in swine production in the Netherlands.
article type	research-article
is part of this journal	Journal of Farm Economics/Canadian Journal of Agricultural Economics

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