[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/eee/ecmode/v59y2016icp164-173.html
   My bibliography  Save this article

Personal carbon trading and subsidies for hybrid electric vehicles

Author

Listed:
  • Fan, Jin
  • He, Haonan
  • Wu, Yanrui
Abstract
This study proposes a personal carbon trading (PCT) model to understand subsidies for hybrid electric vehicles (HEVs) and attempts to derive the equilibrium price for carbon allowance. Based on the derived equilibrium price, this study then proposes formulas to calculate the cost-effective carbon subsidy for HEVs using the Chinese market as the case study. Sensitivity analyses are conducted to investigate the effect of gasoline price, vehicle price, interest rate, fuel efficiency and vehicle miles traveled on the equilibrium carbon price and the cost-effective carbon subsidy. The findings show that the PCT scheme reduces volatility in driving cost and an equilibrium carbon price determined by the market could be more favorable to achieve total carbon emission control than existing policy instruments, such as carbon tax. Moreover, consumers can be motivated to adopt HEVs once the market price for carbon allowances rises beyond the critical value. In particular, the critical carbon price for an over-emitter to choose a HEV is smaller than that for an under-emitter.

Suggested Citation

  • Fan, Jin & He, Haonan & Wu, Yanrui, 2016. "Personal carbon trading and subsidies for hybrid electric vehicles," Economic Modelling, Elsevier, vol. 59(C), pages 164-173.
    • Handle: RePEc:eee:ecmode:v:59:y:2016:i:c:p:164-173
    DOI: 10.1016/j.econmod.2016.07.005
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0264999316301882
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.econmod.2016.07.005?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Erin T. Mansur, 2011. "Upstream versus Downstream Implementation of Climate Policy," NBER Chapters, in: The Design and Implementation of US Climate Policy, pages 179-193, National Bureau of Economic Research, Inc.
    2. Martin L. Weitzman, 1974. "Prices vs. Quantities," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(4), pages 477-491.
    3. Harwatt, Helen & Tight, Miles & Bristow, Abigail L. & Gühnemann, Astrid, 2011. "Personal carbon trading and fuel price increases in the transport sector: an exploratory study of public response in the UK," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 47, pages 47-70.
    4. McNamara, David & Caulfield, Brian, 2013. "Examining the impact of carbon price changes under a personalised carbon trading scheme for transport," Transport Policy, Elsevier, vol. 30(C), pages 238-253.
    5. Nitzsche, Eric & Tscharaktschiew, Stefan, 2013. "Efficiency of speed limits in cities: A spatial computable general equilibrium assessment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 56(C), pages 23-48.
    6. de Bovenberg, A Lans & Mooij, Ruud A, 1994. "Environmental Levies and Distortionary Taxation," American Economic Review, American Economic Association, vol. 84(4), pages 1085-1089, September.
    7. Xavier Labandeira, Pedro Linares and Miguel Rodriguez, 2009. "An Integrated Approach to Simulate the impacts of Carbon Emissions Trading Schemes," The Energy Journal, International Association for Energy Economics, vol. 0(Special I).
    8. Parry, Ian W.H. & Timilsina, Govinda R., 2010. "How should passenger travel in Mexico City be priced?," Journal of Urban Economics, Elsevier, vol. 68(2), pages 167-182, September.
    9. Özge .Ic{s}legen & Stefan Reichelstein, 2011. "Carbon Capture by Fossil Fuel Power Plants: An Economic Analysis," Management Science, INFORMS, vol. 57(1), pages 21-39, January.
    10. Baumol, William J, 1972. "On Taxation and the Control of Externalities," American Economic Review, American Economic Association, vol. 62(3), pages 307-322, June.
    11. Suzuki, Yoshinori & Pautsch, Gregory R., 2005. "A vehicle replacement policy for motor carriers in an unsteady economy," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(5), pages 463-480, June.
    12. William J. Baumol & Wallace E. Oates, 1971. "The Use of Standards and Prices for Protection of the Environment," Palgrave Macmillan Books, in: Peter Bohm & Allen V. Kneese (ed.), The Economics of Environment, pages 53-65, Palgrave Macmillan.
    13. Hendrik Wolff, 2014. "Keep Your Clunker in the Suburb: Low‐emission Zones and Adoption of Green Vehicles," Economic Journal, Royal Economic Society, vol. 124(578), pages 481-512, August.
    14. Erdem, Cumhur & Sentürk, Ismail & Simsek, Türker, 2010. "Identifying the factors affecting the willingness to pay for fuel-efficient vehicles in Turkey: A case of hybrids," Energy Policy, Elsevier, vol. 38(6), pages 3038-3043, June.
    15. Romm, Joseph, 2006. "The car and fuel of the future," Energy Policy, Elsevier, vol. 34(17), pages 2609-2614, November.
    16. Coad, Alex & de Haan, Peter & Woersdorfer, Julia Sophie, 2009. "Consumer support for environmental policies: An application to purchases of green cars," Ecological Economics, Elsevier, vol. 68(7), pages 2078-2086, May.
    17. Fan, Jin & Li, Jun & Wu, Yanrui & Wang, Shanyong & Zhao, Dingtao, 2016. "The effects of allowance price on energy demand under a personal carbon trading scheme," Applied Energy, Elsevier, vol. 170(C), pages 242-249.
    18. Li, Yao & Fan, Jin & Zhao, Dingtao & Wu, Yanrui & Li, Jun, 2016. "Tiered gasoline pricing: A personal carbon trading perspective," Energy Policy, Elsevier, vol. 89(C), pages 194-201.
    19. Stephen P. Holland, Jonathan E. Hughes, Christopher R. Knittel, Nathan C. Parker, 2015. "Unintended Consequences of Carbon Policies: Transportation Fuels, Land-Use, Emissions, and Innovation," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    20. Bertinelli, Luisito & Camacho, Carmen & Zou, Benteng, 2014. "Carbon capture and storage and transboundary pollution: A differential game approach," European Journal of Operational Research, Elsevier, vol. 237(2), pages 721-728.
    21. David M Newbery, 1992. "Should Carbon Taxes Be Additional to Other Transport Fuel Taxes?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 49-60.
    22. Bristow, Abigail L. & Wardman, Mark & Zanni, Alberto M. & Chintakayala, Phani K., 2010. "Public acceptability of personal carbon trading and carbon tax," Ecological Economics, Elsevier, vol. 69(9), pages 1824-1837, July.
    23. Tscharaktschiew, Stefan & Hirte, Georg, 2010. "The drawbacks and opportunities of carbon charges in metropolitan areas -- A spatial general equilibrium approach," Ecological Economics, Elsevier, vol. 70(2), pages 339-357, December.
    24. Yihsu Chen & Chung-Li Tseng, 2011. "Inducing Clean Technology in the Electricity Sector: Tradable Permits or Carbon Tax Policies?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 169-174.
    25. He, Dong & Wang, Honglin, 2012. "Dual-track interest rates and the conduct of monetary policy in China," China Economic Review, Elsevier, vol. 23(4), pages 928-947.
    26. Sebastian Rausch & Valerie J. Karplus, 2014. "Markets versus Regulation: The Efficiency and Distributional Impacts of U.S. Climate Policy Proposals," The Energy Journal, , vol. 35(1_suppl), pages 199-228, June.
    27. Ouchida, Yasunori & Goto, Daisaku, 2014. "Do emission subsidies reduce emission? In the context of environmental R&D organization," Economic Modelling, Elsevier, vol. 36(C), pages 511-516.
    28. Carolyn Fischer & Winston Harrington & Ian W.H. Parry, 2007. "Should Automobile Fuel Economy Standards be Tightened?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 1-30.
    29. John Pezzey, 2003. "Emission Taxes and Tradeable Permits A Comparison of Views on Long-Run Efficiency," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 26(2), pages 329-342, October.
    30. Charles Raux, 2004. "The Use of Transferable Permits in Transport Policy," Post-Print halshs-00067895, HAL.
    31. Ian W. H. Parry & Kenneth A. Small, 2005. "Does Britain or the United States Have the Right Gasoline Tax?," American Economic Review, American Economic Association, vol. 95(4), pages 1276-1289, September.
    32. Tina Fawcett, 2004. "Carbon Rationing and Personal Energy Use," Energy & Environment, , vol. 15(6), pages 1067-1083, November.
    33. Michael P Johnson, 2001. "Environmental Impacts of Urban Sprawl: A Survey of the Literature and Proposed Research Agenda," Environment and Planning A, , vol. 33(4), pages 717-735, April.
    34. Austin, David & Dinan, Terry, 2005. "Clearing the air: The costs and consequences of higher CAFE standards and increased gasoline taxes," Journal of Environmental Economics and Management, Elsevier, vol. 50(3), pages 562-582, November.
    35. Walsh, D.M. & O'Sullivan, K. & Lee, W.T. & Devine, M.T., 2014. "When to invest in carbon capture and storage technology: A mathematical model," Energy Economics, Elsevier, vol. 42(C), pages 219-225.
    36. Wolff, Hendrik, 2014. "Keep Your Clunker in the Suburb: Low Emission Zones and Adoption of Green Vehicles," IZA Discussion Papers 8180, Institute of Labor Economics (IZA).
    37. Fan, Jin & Wang, Shanyong & Wu, Yanrui & Li, Jun & Zhao, Dingtao, 2015. "Buffer effect and price effect of a personal carbon trading scheme," Energy, Elsevier, vol. 82(C), pages 601-610.
    38. Megan H. Accordino and Deepak Rajagopal, 2015. "When a National Cap-and-Trade Policy with Carve-out Provision May Be Preferable to a National CO2 Tax," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    39. Pizer, William A., 2002. "Combining price and quantity controls to mitigate global climate change," Journal of Public Economics, Elsevier, vol. 85(3), pages 409-434, September.
    40. Hongyi Chen & Qianying Chen & Stefan Gerlach, 2011. "The Implementation of Monetary Policy in China: The Interbank Market and Bank Lending," Working Papers 262011, Hong Kong Institute for Monetary Research.
    41. Proost, Stef & Van Dender, Kurt, 2012. "Energy and environment challenges in the transport sector," Economics of Transportation, Elsevier, vol. 1(1), pages 77-87.
    42. De Borger, Bruno & Proost, Stef, 2013. "Traffic externalities in cities: The economics of speed bumps, low emission zones and city bypasses," Journal of Urban Economics, Elsevier, vol. 76(C), pages 53-70.
    43. Shanyong Wang & Jin Fan & Dingtao Zhao & Shu Yang & Yuanguang Fu, 2016. "Predicting consumers’ intention to adopt hybrid electric vehicles: using an extended version of the theory of planned behavior model," Transportation, Springer, vol. 43(1), pages 123-143, January.
    44. Shanyong Wang & Jin Fan & Dingtao Zhao & Shu Yang & Yuanguang Fu, 2016. "Predicting consumers’ intention to adopt hybrid electric vehicles: using an extended version of the theory of planned behavior model," Transportation, Springer, vol. 43(1), pages 123-143, January.
    45. Tina Fawcett & Yael Parag, 2010. "An introduction to personal carbon trading," Climate Policy, Taylor & Francis Journals, vol. 10(4), pages 329-338, July.
    46. Halvorsen, Bente & Larsen, Bodil M., 2001. "The flexibility of household electricity demand over time," Resource and Energy Economics, Elsevier, vol. 23(1), pages 1-18, January.
    47. Giblin, S. & McNabola, A., 2009. "Modelling the impacts of a carbon emission-differentiated vehicle tax system on CO2 emissions intensity from new vehicle purchases in Ireland," Energy Policy, Elsevier, vol. 37(4), pages 1404-1411, April.
    48. Wadud, Zia, 2011. "Personal tradable carbon permits for road transport: Why, why not and who wins?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(10), pages 1052-1065.
    49. Anas, Alex & Timilsina, Govinda R., 2009. "Impacts of policy instruments to reduce congestion and emissions from urban transportation : the case of Sao Paulo, Brazil," Policy Research Working Paper Series 5099, The World Bank.
    50. Fawcett, Tina, 2010. "Personal carbon trading: A policy ahead of its time?," Energy Policy, Elsevier, vol. 38(11), pages 6868-6876, November.
    51. Goulder, Lawrence H., 2013. "Climate change policy's interactions with the tax system," Energy Economics, Elsevier, vol. 40(S1), pages 3-11.
    52. Charles Raux & Yves Croissant & Damien Pons, 2015. "Would personal carbon trading reduce travel emissions more effectively than a carbon tax?," Post-Print halshs-01099917, HAL.
    53. Hao, Han & Ou, Xunmin & Du, Jiuyu & Wang, Hewu & Ouyang, Minggao, 2014. "China’s electric vehicle subsidy scheme: Rationale and impacts," Energy Policy, Elsevier, vol. 73(C), pages 722-732.
    54. Peter C. Reiss & Matthew W. White, 2005. "Household Electricity Demand, Revisited," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 72(3), pages 853-883.
    55. Nelson, Tim & Kelley, Simon & Orton, Fiona, 2012. "A literature review of economic studies on carbon pricing and Australian wholesale electricity markets," Energy Policy, Elsevier, vol. 49(C), pages 217-224.
    56. Narayan, Paresh Kumar & Sharma, Susan Sunila, 2015. "Is carbon emissions trading profitable?," Economic Modelling, Elsevier, vol. 47(C), pages 84-92.
    57. Greg Marsden & Karen Trapenberg Frick & Anthony D May & Elizabeth Deakin, 2012. "Bounded Rationality in Policy Learning Amongst Cities: Lessons from the Transport Sector," Environment and Planning A, , vol. 44(4), pages 905-920, April.
    58. Hirte, Georg & Tscharaktschiew, Stefan, 2013. "The optimal subsidy on electric vehicles in German metropolitan areas: A spatial general equilibrium analysis," Energy Economics, Elsevier, vol. 40(C), pages 515-528.
    59. Julie Rozenberg & St�phane Hallegatte & Baptiste Perrissin-Fabert & Jean-Charles Hourcade, 2013. "Funding low-carbon investments in the absence of a carbon tax," Climate Policy, Taylor & Francis Journals, vol. 13(1), pages 134-141, January.
    60. Alberto M. Zanni & Abigail L. Bristow & Mark Wardman, 2013. "The potential behavioural effect of personal carbon trading: results from an experimental survey," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 2(2), pages 222-243, July.
    61. Davis, Brian A. & Figliozzi, Miguel A., 2013. "A methodology to evaluate the competitiveness of electric delivery trucks," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 49(1), pages 8-23.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. An, Kangxin & Zhang, Shihui & Huang, Hai & Liu, Yuan & Cai, Wenjia & Wang, Can, 2021. "Socioeconomic impacts of household participation in emission trading scheme: A Computable General Equilibrium-based case study," Applied Energy, Elsevier, vol. 288(C).
    2. Liu, Yang & Han, Liyan & Yin, Ziqiao & Luo, Kongyi, 2017. "A competitive carbon emissions scheme with hybrid fiscal incentives: The evidence from a taxi industry," Energy Policy, Elsevier, vol. 102(C), pages 414-422.
    3. Li, Wenbo & Long, Ruyin & Chen, Hong & Yang, Tong & Geng, Jichao & Yang, Muyi, 2018. "Effects of personal carbon trading on the decision to adopt battery electric vehicles: Analysis based on a choice experiment in Jiangsu, China," Applied Energy, Elsevier, vol. 209(C), pages 478-488.
    4. He, Haonan & Chen, Wenze & Zhou, Qi, 2023. "Subsidy allocation strategies for power industry’s clean transition under Bayesian Nash equilibrium," Energy Policy, Elsevier, vol. 182(C).
    5. Zhang, Xiao-Bing & Zhu, Lei, 2017. "Strategic carbon taxation and energy pricing under the threat of climate tipping events," Economic Modelling, Elsevier, vol. 60(C), pages 352-363.
    6. Nie, Qingyun & Zhang, Lihui & Li, Songrui, 2022. "How can personal carbon trading be applied in electric vehicle subsidies? A Stackelberg game method in private vehicles," Applied Energy, Elsevier, vol. 313(C).
    7. Wang, Haibing & Zheng, Tianhang & Sun, Weiqing & Khan, Muhammad Qasim, 2023. "Research on the pricing strategy of park electric vehicle agent considering carbon trading," Applied Energy, Elsevier, vol. 340(C).
    8. Li, Lixu & Wang, Zhiqiang & Xie, Xiaoqing, 2022. "From government to market? A discrete choice analysis of policy instruments for electric vehicle adoption," Transportation Research Part A: Policy and Practice, Elsevier, vol. 160(C), pages 143-159.
    9. Liu, Xiaobing & Yan, Xuedong & Liu, Feng & Wang, Rui & Leng, Yan, 2019. "A trip-specific model for fuel saving estimation and subsidy policy making of carpooling based on empirical data," Applied Energy, Elsevier, vol. 240(C), pages 295-311.
    10. Nie, Qingyun & Zhang, Lihui & Tong, Zihao & Hubacek, Klaus, 2022. "Strategies for applying carbon trading to the new energy vehicle market in China: An improved evolutionary game analysis for the bus industry," Energy, Elsevier, vol. 259(C).
    11. Yong Liu, 2019. "Residents’ Willingness and Influencing Factors on Action Personal Carbon Trading: A Case Study of Metropolitan Areas in Tianjin, China," Sustainability, MDPI, vol. 11(2), pages 1-13, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tscharaktschiew, Stefan, 2014. "Shedding light on the appropriateness of the (high) gasoline tax level in Germany," Economics of Transportation, Elsevier, vol. 3(3), pages 189-210.
    2. Nie, Qingyun & Zhang, Lihui & Li, Songrui, 2022. "How can personal carbon trading be applied in electric vehicle subsidies? A Stackelberg game method in private vehicles," Applied Energy, Elsevier, vol. 313(C).
    3. Fan, Jin & Li, Jun & Wu, Yanrui & Wang, Shanyong & Zhao, Dingtao, 2016. "The effects of allowance price on energy demand under a personal carbon trading scheme," Applied Energy, Elsevier, vol. 170(C), pages 242-249.
    4. Wadud, Zia & Chintakayala, Phani Kumar, 2019. "Personal Carbon Trading: Trade-off and Complementarity Between In-home and Transport Related Emissions Reduction," Ecological Economics, Elsevier, vol. 156(C), pages 397-408.
    5. Tan, Xueping & Wang, Xinyu & Zaidi, Syed Haider Ali, 2019. "What drives public willingness to participate in the voluntary personal carbon-trading scheme? A case study of Guangzhou Pilot, China," Ecological Economics, Elsevier, vol. 165(C), pages 1-1.
    6. Li, Yao & Fan, Jin & Zhao, Dingtao & Wu, Yanrui & Li, Jun, 2016. "Tiered gasoline pricing: A personal carbon trading perspective," Energy Policy, Elsevier, vol. 89(C), pages 194-201.
    7. An, Kangxin & Zhang, Shihui & Huang, Hai & Liu, Yuan & Cai, Wenjia & Wang, Can, 2021. "Socioeconomic impacts of household participation in emission trading scheme: A Computable General Equilibrium-based case study," Applied Energy, Elsevier, vol. 288(C).
    8. Fan, Jin & Wang, Shanyong & Wu, Yanrui & Li, Jun & Zhao, Dingtao, 2015. "Buffer effect and price effect of a personal carbon trading scheme," Energy, Elsevier, vol. 82(C), pages 601-610.
    9. Li, Wenbo & Long, Ruyin & Chen, Hong & Yang, Tong & Geng, Jichao & Yang, Muyi, 2018. "Effects of personal carbon trading on the decision to adopt battery electric vehicles: Analysis based on a choice experiment in Jiangsu, China," Applied Energy, Elsevier, vol. 209(C), pages 478-488.
    10. Dogterom, Nico & Ettema, Dick & Dijst, Martin, 2018. "Behavioural effects of a tradable driving credit scheme: Results of an online stated adaptation experiment in the Netherlands," Transportation Research Part A: Policy and Practice, Elsevier, vol. 107(C), pages 52-64.
    11. Nie, Qingyun & Zhang, Lihui & Tong, Zihao & Hubacek, Klaus, 2022. "Strategies for applying carbon trading to the new energy vehicle market in China: An improved evolutionary game analysis for the bus industry," Energy, Elsevier, vol. 259(C).
    12. Georg Hirte & Stefan Tscharaktschiew, 2015. "Optimal Fuel Taxes and Heterogeneity of Cities," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 35(2), pages 173-209, October.
    13. Anna-Katharina Kothe & Alexander Kuptel & Roman Seidl, 2021. "Simulating Personal Carbon Trading (PCT) with an Agent-Based Model (ABM): Investigating Adaptive Reduction Rates and Path Dependence," Energies, MDPI, vol. 14(22), pages 1-15, November.
    14. Santos, Georgina & Behrendt, Hannah & Maconi, Laura & Shirvani, Tara & Teytelboym, Alexander, 2010. "Part I: Externalities and economic policies in road transport," Research in Transportation Economics, Elsevier, vol. 28(1), pages 2-45.
    15. Hirte, Georg & Tscharaktschiew, Stefan, 2018. "The impact of anti-congestion policies and the role of labor-supply margins," CEPIE Working Papers 04/18, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    16. Roger Fouquet, 2012. "Economics of Energy and Climate Change: Origins, Developments and Growth," Working Papers 2012-08, BC3.
    17. Fageda, Xavier & Flores-Fillol, Ricardo & Theilen, Bernd, 2022. "Price versus quantity measures to deal with pollution and congestion in urban areas: A political economy approach," Journal of Environmental Economics and Management, Elsevier, vol. 115(C).
    18. Yao Li & Shuai Wang, 2023. "Personal emission permit trading scheme: urban spatial equilibrium and planning," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 116(1), pages 1239-1259, March.
    19. Hirte, Georg & Tscharaktschiew, Stefan, 2020. "The role of labor-supply margins in shaping optimal transport taxes," Economics of Transportation, Elsevier, vol. 22(C).
    20. De Borger, Bruno & Proost, Stef, 2021. "Road tolls, diverted traffic and local traffic calming measures: Who should be in charge?," Transportation Research Part B: Methodological, Elsevier, vol. 147(C), pages 92-115.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecmode:v:59:y:2016:i:c:p:164-173. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/30411 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.