Least-Cost Climatic Stabilization

Lovins, Amory B.

doi:10.1146/annurev.energy.16.1.433

Cited by 9 publications

(9 citation statements)

References 29 publications

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“…Many analysts have argued that market failures are preventing the implementation of already cost-efficient energy-conservation measures (e.g. Lovins and Lovins, 1991;Jackson and Jacobs, 1991;Jackson, 1995). Jackson (1991) provides evidence that the energy market is far from perfect.…”

Section: Improvements In Energy Efficiencymentioning

confidence: 99%

Carbon Taxes and Carbon Emissions Trading

Elkins

Baker

2001

Journal of Economic Surveys

170

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This paper surveys the literature on, and examples of current implementation of, carbon taxes and carbon emission permits. It sets out the theoretical basis for these instruments, with special reference to the revenuerecycling and tax interaction effects. This theoretical work concludes that instruments which raise revenue which can be recycled so as to reduce preexisting distortionary taxes are significantly less costly than those which do not. The paper then reviews the sizable literature on the distributional effects of these instruments, especially with regard to industrial competitiveness and regressive effects on low-income groups, evaluating attempts to mitigate these where they are perceived as unacceptable. The paper concludes that such efforts at mitigation, while possible, can substantially reduce the efficiency benefits of the instruments. The projected costs of carbon taxes depend on a wide range of assumptions. This is still a contested area, but the paper concludes that, on a range of plausible assumptions, these costs need not be high. Finally the paper notes that early evaluations of the environmental effectiveness of carbon taxes have been generally positive. This suggests that, if concern about anthropogenic climate change continues to increase, more countries will introduce carbon taxes and emission permits, with the latter increasingly auctioned.

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Section: Improvements In Energy Efficiencymentioning

confidence: 99%

Carbon Taxes and Carbon Emissions Trading

Elkins

Baker

2001

Journal of Economic Surveys

170

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“…This criticism is well-taken in some cases. For example, Lovins and Lovins (1991) argue that the fuel economy of new automobiles could be cost effectively raised from 27.5 to 71 miles per gallon based on technologies embodied in manufacturer prototypes. However, their analysis makes no correction for the small size and low performance of high-mileage vehicles.…”

Section: The Efficient Markets Hypothesismentioning

confidence: 99%

Discount Rates and Energy Efficiency

Howarth¹,

Sanstad²

1995

Contemporary Economic Policy

130

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Empirical studies provide compelling evidence that economic agents do not adopt the complete range of energy-efficient technologies that are cost-effective under prevailing prices and market conditions. Analysts commonly attribute this anomaly to the use of high discount rates in energy-related decisions-an interpretation that is difficult to reconcile with standard models of rational choice. This paper recasts the controversy from the perspective of economic theory and finds that market failures related to asymmetric information, bounded rationality, and transaction costs are major contributors to the so-called "efficiency gap." Copyright 1995 Western Economic Association International.

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“…E.g.,Koomey and Sanstad 1990;Lovins and Lovins 1991; National Academy of Sciences 1992; Koomey et al 1996;DeCanio 1998;Brown 2001. …”

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confidence: 99%