Environmental Policy, Technology Substitution and Cross-Media Transfers. Livestock Series Report 6
This paper provides a framework to analyze environmental policy when the transfer of pollutants from one medium to another is deemed important. The authors characterize the conditions under which such cross-media transfers are socially beneficial, and provide criteria for the choice of technologies as functions of the society's preferences for different environmental media. Society's solution is shown to lead to the least level of damage, output, and waste treatment costs.