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The mechanism spans the spectrum between a pure quantity instrument and a pure price instrument.
If these curves are uncertain to the regulator, however, the quantity instrument performs relatively better than the price instrument.
The reason is that the effective amount of control under the quantity instrument is no longer fixed, which makes this instrument come closer to a non-linear instrument.
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The theoretical notion that price instruments (carbon taxes) and quantity instruments (emissions targets) are equivalent, RFF researchers argue, is true only if the costs and benefits of reducing emissions are pretty certain.
A distinction is drawn between (1) quantity instruments, which represent different extents of a market for emission permits; and (2) price instruments, which represent different types of tax.
Under uncertainty, the optimal choice between price and quantity instruments depends on the technology of the regulated firms, which is often private information.
This paper examines implications of economic theory for handling cost and benefit uncertainty in bioelectricity policy design, focussing on choices between price and quantity instruments, technology differentiation, and policy adjustment.
However, it is often difficult for researchers of different fields to get from a single source the information of the observed data, for example, physical quantities, instruments, observatories, contact persons, location, and format of data files.
Through Tony's generosity both Pingry and St. George's increased the quality and quantity of instruments available for student performances.
Lloyd Loar designed and hand-signed a small quantity of instruments: the F-5 mandolin, H-5 mandola, L-5 guitar and very rare the K-5 mando-cello.
Absenteeism will be calculated, and reduced work productivity (presenteeism) will be measured by the Quantity and Quality instrument (QQ).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com