Faithin Omaha eBook Collection

Download or read book Three Essays on Industrial Organization and Environmental Economics written by Ziying Yang and published by . This book was released on 2017 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second paper investigates the effect of Beijing's vehicle lottery system on fleet composition, fuel consumption, air pollution, and social welfare. We find that the lottery reduced new passenger vehicle sales by 50.15%, fuel consumption by 48.69%, and pollutant emissions by 48.69% in 2012. Also, such lottery shifted new auto purchases towards high-end but less fuel efficient vehicles. In our counterfactual analysis, we show that a progressive tax scheme works better than the lottery system at decreasing fuel consumption and air pollution, and leads to a higher fleet fuel efficiency and less welfare loss.