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Publications

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  • Regulatory Change and Optimal Transition Relief
    Academic Article/Working Paper

    Regulatory Change and Optimal Transition Relief

    By Richard L. Revesz & Allison L. Westfahl Kong
    October 30, 2010

    Grandfathering has become a common practice in regulating industries like coal power generation. But it is not clear that phasing out polluting plants is beneficial. The costs of retrofitting existing plants to comply with new standard can be higher than the compliance costs for a new plant. Since the costs of shifting to new technology must be borne at some point, (since granfathering can’t be indefinite) it might be best not to grandfather at all so that society can benefit from lower pollution levels earlier. That’s just one of the arguments examined in this working paper.

  • Unlocking the Green Economy
    Policy Brief

    Unlocking the Green Economy

    How Carbon Pricing Can Open the Floodgates of Private Investment in Clean Energy

    By Michael A. Livermore
    December 16, 2008

    Unlocking the Green Economy: How Carbon Pricing Can Open the Floodgates of Private Investment in Clean Energy calls for the Obama Administration to implement carbon pricing as a necessary step to transition to a green U.S. economy.

  • The Cost-Benefit Compass
    Policy Brief

    The Cost-Benefit Compass

    Navigating the Perfect Storm of Economic, Environmental, and Energy Challenges

    By Michael A. Livermore
    October 21, 2008

    The Cost-Benefit Compass: Navigating the Perfect Storm of Economic, Environmental, and Energy Challenges discusses how the next administration can use cost-benefit analysis to address the three great interrelated challenges facing the country.

  • Retaking Rationality
    Book

    Retaking Rationality

    How Cost-Benefit Analysis Can Better Protect the Environment and Our Health

    By Richard L. Revesz and Michael A. Livermore
    April 22, 2008

    In Retaking Rationality: How Cost-Benefit Analysis Can Better Protect the Environment and Our Health (Oxford University Press, 2008), Dean Richard L. Revesz and Michael A. Livermore argue for a more rational approach to cost-benefit analysis and regulation. They show how traditional cost-benefit analysis tends to overestimate costs and underestimate benefits, leading to less-than-optimal levels of regulation.