Emissions Trading, Electricity Industry Restructuring and Investment in Pollution Abatement

Table 4: Measures of Data Fit

	Technology fixed effects only	CLI	CLII	RPL
Log-Iikelihood value	-1008.10	955.04	917.17	783.61
at convergence
Number of parameters	8	10	14	20
LR test statistic	-	106.12	75.74	267.12
p-value		<0.001	<0.001	<0.001

Table 5: Average Capital Cost and Variable Compliance Cost

Marginal Effects for Commonly Selected Technologies(RPL)

Technology	Capital cost marginal effects		Variable cost marginal effects
	Regulated	Restructured	Regulated	Restructured
CM	-0.051	-0.090	-0.072	-0.109
LNB	-0.125	-0.204	-0.147	-0.246
SCR	-0.008	-0.013	-0.043	-0.049
SNCR	-0.045	-0.075	-0.081	-0.119

Table 6: Elasticities of Choice Probabilities with Respect to Capital Cost

for Commonly Selected Technologies

Table 7: Elasticities of Choice Probabilities with Respect to Variable Compliance
Costs for Commonly Selected Technologies