The Role of Stocks and Shocks Concepts in the Debate Over Price Versus Quantity
用简单模型重新分析了成本不确定性的动态结构如何影响价格控制与数量控制的选择，临时冲击偏向价格控制，永久冲击偏向数量控制，对政策制定者和经济学研究者有参考价值。
Recent literature showed that the choice between a price or quantity control depends, in part, on the dynamic structure of cost uncertainty. Temporary shocks to abatement cost favors the use of a price control, while permanent shocks favor a quantity control. Unfortunately, the importance of this assumption to the optimal choice has not yet received wide attention among economists. We analyze the regulatory sproblem in an alternative setting and reproduce these results. Our contribution is the simplicity of the model and the accessibility of the results, which reinforce the critical role played by the assumed structure of uncertainty.