Firm behaviour under regulatory control of stochastic environmental wastes by probabilistic constraints

Environmental regulation by deterministic constraints is not really meaningful when, as is common in practice, effluent generation is inherently stochastic. In such a case, “probabilistic constraints” are more appropriate. This paper examines the regulatory control of firm behaviour under mean and p...

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Bibliographic Details
Published in:Journal of environmental economics and management 1987-06, Vol.14 (2), p.112-127
Main Authors: Beavis, Brian, Dobbs, Ian
Format: Article
Language:English
Subjects:
Environmental protection
Environmental quality
Mathematical analysis
Optimization
Pollution control
Stochastic models
Waste
Waste disposal
Water pollution
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Summary:Environmental regulation by deterministic constraints is not really meaningful when, as is common in practice, effluent generation is inherently stochastic. In such a case, “probabilistic constraints” are more appropriate. This paper examines the regulatory control of firm behaviour under mean and percentile probabilistic constraints.
ISSN:0095-0696
1096-0449
DOI:10.1016/0095-0696(87)90010-6