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  "documentTitle": "ey net zero centre carbon offset publication 20220530",
  "authorId": "MorganStanley",
  "authorName": "Grantham Research Institute",
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  "notes": "This is a page from a technical report or academic paper discussing subsidy additionality.",
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      "text": "A sufficient condition for identifying a project as infra-marginal is that there exists some project m > n that is not receiving a subsidy.",
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      "text": "1. m did not receive a subsidy (s = 0),",
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      "text": "The typical approach for determining whether or not a project n is infra-marginal is to attempt to estimate V(0, xn), V(s, xn), and R, and then check whether V(s, xn) >= R > V(0, xn). This approach faces several challenges, not least of which is the fundamentally unobservable nature of V(0, xn) once a subsidy has been awarded.",
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      "text": "Fortunately, one does not need to estimate V(0, xn), V(s, xn), and R to determine whether a project is infra-marginal (i.e. whether n <= i). A sufficient condition for identifying a project as infra-marginal is that there exists some project m > n that is not receiving a subsidy. Because no projects m > i would enter the market without a subsidy, the existence of an unsubsidised project m is sufficient to infer that n must be less than i.",
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      "text": "3.2 Blatantly Infra-marginal Projects",
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