arXiv subjects

Megan Yeo

Publications and source records attributed to Megan Yeo.

4 recordsLinked to original sources

arXiv2025

Do the rich pay their fair share? Enumerating the financial and emissions consequences of abolishing premium air travel

Premium air travel is often associated with a disproportionately large carbon emissions footprint. This association reflects the increased space and amenities typically found in premium cabins that existing discourse suggests makes their carriage more fuel, and consequently carbon, intensive. One increasingly popular solution is disincentivizing the use of premium cabins in favor of all-economy cabins. How effective might such a policy be. To what extent. And how may the revenue impact affect travelers. We address these questions by leveraging an empirical model that integrates cabin configuration data, fuel burn profiles across various aircraft types, and multi-month airfare datasets. Our findings are threefold. First, we find that favoring entirely foregoing premium travel classes can reduce per-passenger emissions by between 8.1 and 21.5 percent, the precise figure varying based on the type of aircraft and aircraft stage length involved. Second, we observe that these emissions reductions are far less assured on a per-flight and a lifespan basis. Here, an all-economy configuration can reduce emissions by 0.45 percent or increase emissions by as much as 1.43 percent. Third, we enumerate pronounced revenue consequences associated with an all-economy configuration. This configuration produces aggregate revenue declines of between 4.92 and 23.1 percent, necessitating airfare increases of between 6 and 30 percent to maintain baseline revenue. This increase risks imposing a profound and regressive economic burden on working-class travelers who exhibit markedly higher price elasticities of demand compared to their wealthier counterparts and highlights the cross-subsidization airlines leverage to ensure the accessibility of air travel.

econ.GN↗

arXiv2025

Enumerating the technological viability and climate impact of jet electrification

Enabling battery technology has not achieved sufficient maturity to facilitate electric flight for all aircraft models across all distances. Consequently, existing discourse emphasizes electrifying short haul routes using smaller, lighter aircraft. Does this emphasis have merit. We estimate a model that addresses this question. Our findings are fourfold. First, we find that current energy density limitations impede short haul electric flight, regardless of aircraft model utilized. Second, we document that electrifying smaller, lighter aircraft models serving short haul routes may be particularly challenging as these aircraft require more, not less, acute increases in energy density. Third, we identify a subset of larger, heavier aircraft as better candidates for electrification and note that doing so could prevent the annual release of significant amounts of carbon dioxide equivalent. However, we observe that the regional benefits of electrification are highly heterogeneous. The largest emissions benefit is realized in Europe, followed by South America, North America, Oceania and Africa. Electrification flights originating in Asia produces a net increase in carbon emissions owing to the disproportionate share of miles claimed by Asian countries with a more carbon intensive electrical grid. Indian emissions warrant scrutiny, as its emissions contribution most disproportionately exceeds its mileage contribution. The implications of these findings for decarbonization policy are subsequently discussed.

econ.GN↗

arXiv2024

Electric vehicle pricing and battery costs: A misaligned assumption

Although electric vehicles (EVs) are a climate friendly alternative to internal combustion engine vehicles (ICEVs), EV adoption is challenged by higher up-front procurement prices. Existing discourse attributes this price differential to high battery costs and reasons that lowering these costs will reduce EV upfront price differentials. However, other factors beyond battery price may influence prices. Leveraging data for over 400 EV models and trims sold in the United Sates between 2011-2023, we scrutinize these factors. We find that contrary to existing discourse, EV MSRP has increased over time despite declining EV battery costs. We attribute this increase to the growing accommodation of attributes that strongly influence EV prices but have long been underappreciated in mainstream discourse. Furthermore, and relevant to decarbonization efforts, we observe that continued reductions in pack-level battery costs are unlikely to deliver price parity between EVs and ICEVs. Were pack level battery costs reduced to zero, EV MSRP would decrease by $4,025, estimates that are insufficient to offset observed price differences between EVs and ICEVs. These findings warrant attention as decarbonization efforts increasingly emphasize EVs as a pathway for complying with domestic and international climate agreements.

econ.EM↗

arXiv2023

Enumerating the climate impact of disequilibrium in critical mineral supply

Recently proposed tailpipe emissions standards aim to significant increases in electric vehicle (EV) sales in the United States. Our work examines whether this increase is achievable given potential constraints in EV mineral supply chains. We estimate a model that reflects international sourcing rules, heterogeneity in the mineral intensity of predominant battery chemistries, and long-run grid decarbonization efforts. Our efforts yield five key findings. First, compliance with the proposed standard necessitates replacing at least 10.21 million new ICEVs with EVs between 2027 and 2032. Second, based on economically viable and geologically available mineral reserves, manufacturing sufficient EVs is plausible across most battery chemistries and could, subject to the chemistry leveraged, reduce up to 457.3 million total tons of CO2e. Third, mineral production capacities of the US and its allies constrain battery production to a total of 5.09 million EV batteries between 2027 and 2032, well short of deployment requirements to meet EPA standards even if battery manufacturing is optimized to exclusively manufacture materials efficient NMC 811 batteries. Fourth, disequilibrium between mineral supply and demand results in at least 59.54 million tons of CO2e in total lost lifecycle emissions benefits. Fifth, limited present-day production of battery-grade graphite and to a lesser extent, cobalt, constrain US electric vehicle battery pack manufacturing under strict sourcing rules. We demonstrate that should mineral supply bottlenecks persist, hybrid electric vehicles may offer equivalent lifecycle emissions benefits as EVs while relaxing mineral production demands, though this represents a tradeoff of long-term momentum in electric vehicle deployment in favor of near-term carbon dioxide emissions reductions.

econ.GN↗