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A note on environmental R&D under time-consistent emission tax
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Journal Article
A note on environmental R&D under time-consistent emission tax
2011
Overview
In a recent publication in Journal of Economic Behavior and Organization, Poyago-Theotoky (2007) developed a three-stage game model and also derived theoretical findings and important policy implications for environmental R&D under a time-consistent emission tax. Among the conclusions presented in that paper, it was stated that with inefficient environmental R&D technology and small environmental damage, cooperative environmental R&D engenders larger environmental R&D efforts and greater social welfare than non-cooperative environmental R&D does. This note describes that the results of Poyago-Theotoky's works are still robust in a relaxed wider parameter range of the environmental damage coefficient. Furthermore, the author's provide the generalized sufficient condition of damage coefficient to guarantee an interior solution for R&D in an extended framework. Furthermore, Poyago-Theotoky provides a corrigendum, showing that the negative emission tax can improve the market inefficiency caused by Cournot duopolists. However, an unnecessarily strict assumption related to the environmental damage coefficient has remained. The purpose of this note is to point out that oversight.
Publisher
Feng Chia University,International Journal of Business and Economics
Subject
