Policy-induced technology adoption: Evidence from the U.S. lead phasedown
Publication
, Scholarly Edition
Kerr, S; Newell, RG
January 1, 2018
Theory suggests that economic instruments, such as pollution taxes or tradable permits, can provide more efficient technology adoption incentives than conventional regulatory standards. We explore this issue for an important industry undergoing dramatic decreases in allowed pollution - the U.S. petroleum industry’s phasedown of lead in gasoline. Using a duration model applied to a panel of refineries from 1971-1995, we find that the pattern of technology adoption is consistent with an economic response to market incentives, plant characteristics, and alternative policies. Importantly, evidence suggests that the tradable permit system used during the phasedown provided incentives for more efficient technology adoption decisions.
Duke Scholars
DOI
ISBN
9780815388227
Publication Date
January 1, 2018
Start / End Page
193 / 219
Citation
APA
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Kerr, S., & Newell, R. G. (2018). Policy-induced technology adoption: Evidence from the U.S. lead phasedown. https://doi.org/10.4324/9781351161084-11
Kerr, S., and R. G. Newell. “Policy-induced technology adoption: Evidence from the U.S. lead phasedown,” January 1, 2018. https://doi.org/10.4324/9781351161084-11.
Kerr S, Newell RG. Policy-induced technology adoption: Evidence from the U.S. lead phasedown. 2018. p. 193–219.
Kerr, S., and R. G. Newell. Policy-induced technology adoption: Evidence from the U.S. lead phasedown. 1 Jan. 2018, pp. 193–219. Scopus, doi:10.4324/9781351161084-11.
Kerr S, Newell RG. Policy-induced technology adoption: Evidence from the U.S. lead phasedown. 2018. p. 193–219.
DOI
ISBN
9780815388227
Publication Date
January 1, 2018
Start / End Page
193 / 219