203.432.6024

Associate Professor of Economics

(On leave 2007-2008)

Professor Keohane's research concerns the theory and practice of environmental policy. His current research focuses on how market-based policies such as cap-and-trade programs affect the adoption and innovation of new methods to control pollution. Other projects include hedonic estimation of the value of clean air, and a study of how firms respond to the threat of regulatory enforcement. Professor Keohane is on leave for the academic year 2007-2008, working as a senior economist on climate change policy at Environmental Defense, a non-profit advocacy organziation based in New York.

Achievements and Awards
Savitz Fellow Award for Best Paper in Environmental Policy, 2001

Joseph Fisher Dissertation Award, Resources for the Future, 2000-2001

Eliot Dissertation Completion Fellowship, Harvard University, 2000-2001

Graduate Society Term-Time Dissertation Fellowship, Harvard University, 1998-1999

Charren Fellowship, Kennedy School of Government, Harvard University, 1995-1996

Selected Books
Markets and the Environment (with S.M. Olmstead), Island Press, 2007

Selected Book Chapters
"Cost Savings from Allowance Trading in the 1990 Clean Air Act: Estimates from a Choice-Based Model," in C.E. Kolstad and J. Freeman, eds., Moving to Markets in Environmental Regulation: Lessons from Twenty Years of Experience, Oxford University Press, 2006

"The Positive Political Economy of Instrument Choice in Environmental Policy" (with R.N. Stavins and R.L. Revesz), Environmental Economics and Public Policy: Essays in Honor of Wallace E. Oats, Edward Elgar Publishers, Ltd., UK, 1998, reprinted in Economics of the Environment: Selected Readings, Norton, NY, 2000

Selected Articles
"Market Effects of Environmental Regulation: Coal, Railroads, and the 1990 Clean Air Act" (with M. Busse), RAND Journal of Economics, forthcoming

"Managing the Quality of a Resource with Stock and Flow Controls" (with B. Van Roy and R.J. Zeckhauser), Journal of Public Economics, Vol. 91, No. 541-569, 2007

"The Ecology of Terror Defense" (with R.J. Zeckhauser), Journal of Risk and Uncertainty, Vol. 26, No. 2-3, 201-229, 2003

"Evaluating Environmental Policy Instruments: A Comment on Professor Richards," Duke Environmental Law and Policy Forum, Vol. 10, No. 2, 389-414, 2000

"The Choice of Regulatory Instruments in Environmental Policy" (with R.N. Stavins and R.L. Revesz), Harvard Environmental Law Review, Vol. 22, No. 2, 313-367, 1998

Working Papers
"Averting Enforcement: Strategic Response to the Threat of Environmental Regulation" (with E.T. Mansur and A.Voynov)

"Market-based Environmental Policies and Induced Heterogeneity in Pollution Abatement"

"Prices, Quantities, and Two-Part Tariffs: Environmental Policy Intruments with Endogenous Technical Change"

"Environmental Policy and the Choice of Abatement Technique: Evidence from Coal-Fired Power Plants"

Education
PhD Harvard University, 2001
BA Yale University, 1993