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The Design and Implementation of US Climate Policy$
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Don Fullerton and Catherine Wolfram

Print publication date: 2012

Print ISBN-13: 9780226269146

Published to Chicago Scholarship Online: September 2013

DOI: 10.7208/chicago/9780226921983.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 26 May 2020

. Regulatory Choice with Pollution and Innovation

. Regulatory Choice with Pollution and Innovation

(p.64) (p.65) 4. Regulatory Choice with Pollution and Innovation
The Design and Implementation of US Climate Policy

Charles D. Kolstad

University of Chicago Press

This chapter discusses the possible effect that climate change mitigation policy may have on innovation and invention, presents a model of a single innovating firm which licenses its technology to multiple identical atomistic polluting firms, and then illustrates the effect of innovation on marginal abatement costs. It concludes by suggesting that a better empirical understanding of the process of innovation may help design better policies to encourage innovation and abatement.

Keywords:   climate change, mitigation policy, innovation, invention, marginal abatement costs, abatement

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