NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Kevin J. Boyle

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October 2011Policy-Instrument Choice and Benefit Estimates for Climate-Change Policy in the United States
with Matthew J. Kotchen, Anthony A. Leiserowitz: w17539
This paper provides the first willingness-to-pay (WTP) estimates in support of a national climate-change policy that are comparable with the costs of actual legislative efforts in the U.S. Congress. Based on a survey of 2,034 American adults, we find that households are, on average, willing to pay between $79 and $89 per year in support of reducing domestic greenhouse-gas (GHG) emissions 17 percent by 2020. Even very conservative estimates yield an average WTP at or above $60 per year. Taking advantage of randomized treatments within the survey valuation question, we find that mean WTP does not vary substantially among the policy instruments of a cap-and-trade program, a carbon tax, or a GHG regulation. But there are differences in the sociodemographic characteristics of those willing to p...

Kotchen, M., K. Boyle, and A. Leiserowitz, “Policy-Instrument Choice and Benefit Estimates for Climate-Change Policy in the United States,” Energy Policy, forthcoming.

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