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issions in Australia. It has emission estimates for 93 toxic substances and the source and location of these emissions (Gibbons 2012). The socially optimal level is determined by reducing emissions until the benefit of abating one more unit of pollution that is the marginal abatement benefit measured as a reduction in damage is equal to the cost of abating one additional unit that is the marginal abatement cost. In the simplest case, when each polluter chooses the level at which to emit according to this decision rule that is produce at a level at which the marginal abatement benefit is equal to the marginal abatement cost, an efficient aggregate level of emissions is achieved when the cost of abating one more unit of pollution is equal across all polluters. Any other level of emissions would result in a reduction in net benefits (Bennett 2005).

National pollution inventory policy has also lead to technological standard. A technology or design standard, mandates the specific control technologies or production processes that an individual pollution source must use to meet the emissions standard. This type of standard constrains plant behavior by mandating how a source must meet the standard, regardless of whether such an action is cost-effective. Technology standards may be particularly useful in cases where the costs of emissions monitoring are high but determining whether a particular technology or production process has been put in place to meet a standard is relatively easy (Janek 2012). However, since these types of standards specify the abatement technology required to reduce emissions, sources do not have an incentive to invest in more cost effective methods of abatement or to explore new and innovative abatement strategies or production processes that are not permitted by regulation.

The introduction of environmental legislature in Australia lead to performance based standard. A performance-based standard requires that polluters meet a source-level emissions standard, but allows a polluter to choose among available methods to comply with the standard.

At times, the available methods are constrained by additional criteria specified in a regulation. Performance-based standards that are technology based do not specify a particular technology, but rather consider what is possible for available and affordable technology to achieve when establishing a limit on emissions. In the case of a performance-based standard, the level of flexibility a source has in meeting the standard depends on whether the standard specifies an emission level or emission rate emissions per unit of output or input. A standard that specifies an emission level allows a source to choose to implement an appropriate technology, change its input mix, or reduce output to meet the standard. An emission rate, on the other hand, may be more restrictive depending on how it is defined.

The flexibility of performance-based standards encourages firms to innovate to the extent that they allow firms to explore cheaper ways to meet the standard; however, they generally do not provide incentives for firms to reduce pollution beyond what is required to reach compliance. For emissions that fall below the amount allowed under the standard, the firm faces a zero marginal abatement cost since the firm is already in compliance

It also leads to cost effectiveness. The efficiency of a policy option differs from its cost-ef本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。