Economics Research Seminar
The Effects of Regulation in the Presence of Multiple Unpriced Externalities
Sponsored by: Economics Department
Speaker(s): Antonio Bento, Ph.D., Cornell University
Date & Time: Sep 25, 2013 2 PM - 3:30 PM
Title: The Effects of Regulation of Multiple Unpriced Externalities: Evidence from the Transportation Sector
In transportation systems with unpriced congestion, allowing single-occupant low-emission vehicles in high occupancy vehicle (HOV) lanes to encourage their adoption exacerbates congestion costs for carpoolers. The resulting welfare effects of the policy are negative, with environmental benefits overwhelmingly dominated by the increased congestion costs. Exploiting the introduction of the Clean Air Vehicle Stickers policy in California with a regression
discontinuity design, our results imply a best-case cost of $124 per ton of reductions in greenhouse gases, $606,000 dollars per ton of nitrogen oxides reduction, and $505,000 dollars per ton of hydrocarbon reduction, exceeding those of other options readily available to policymakers.
Please join the Economics Department for a research seminar. This event is open to all Case Western Reserve University faculty, Ph.D. students, economic majors and minors, and those interested in economics research.
Peter B. Lewis Building, Room 401
11119 Bellflower Road
Cleveland, OH 44106-7235
Attachment: The Effects of Regulation