The Effects of Regulation in the Presence of Multiple Unpriced Externalities: Evidence from the Transportation Sector
RFF Academic Seminar
Associate Professor of Economics, Cornell University
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.
Thursday, December 6, 2012
12:00 - 1:30 p.m.
Lunch will be provided.
1st Floor Conference Room
1616 P St. NW
Washington, DC 20036
All seminars will be in the 7th Floor Conference Room at RFF, unless otherwise noted. 1616 P Street NW. Attendance is open, but involves pre-registration no later than two days prior to the event. For questions and to register to an event, please contact Khadija Hill at email@example.com (tel. 202-328-5174). Updates to our academic seminars schedule will be posted at www.rff.org/academicseminarseries.