Analysis of Direct vs. Performance-Based Environmental Regulations
A government wants to reduce air pollution from new automobiles. It is considering two different policies:
Policy 1: Ban the sale of all new cars that are not zero-emission vehicles by a specific future year. Policy 2: Set a strict limit on the average pollution level across all new vehicles sold by each car manufacturer annually, allowing them to sell a mix of vehicles as long as the average meets the target.
Analyze these two policies. In your response, identify which policy represents a more direct form of government intervention. Then, compare and contrast the potential economic impacts of each policy on both car buyers and manufacturers.
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Analysis of Direct vs. Performance-Based Environmental Regulations