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Environment policy and renewable energy R&D incentives in cournot competition

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  • Environment policy and renewable energy R&D incentives in cournot competition
  • Shim, Kieun; Jeong, Kyonghwa
  • The Association of Korean Economic Studies


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Title Environment policy and renewable energy R&D incentives in cournot competition
Similar Titles
Material Type Articles
Author(English)

Shim, Kieun; Jeong, Kyonghwa

Publisher

[Seoul]:The Association of Korean Economic Studies

Date 2015-08
Journal Title; Vol./Issue Korea and the World Economy:vol. 16(no. 2)
Pages 25
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Energy
Territorial Development < Environment
Holding The Association of Korean Economic Studies

Abstract

This paper studies how the policy choice between a command-and control (CAC) system and an emission trading scheme (ETS) affects a firm’s renewable energy R&D incentives in an oligopoly market when a renewable portfolio system (RPS) is introduced in conjunction with environmental regulation. An ETS with free allocation leads to greater renewable energy R&D incentives compared with a CAC or an ETS with auctioning. The difference in R&D incentives between a CAC and an ETS with auctioning is uncertain because the level of incentives depends on market conditions such as demand elasticity, abatement cost, and marginal R&D cost. This result contrasts with the results of previous studies in which a CAC or an ETS with auctioning leads to greater abatement R&D incentives than an ETS with free allocation.