Aidt, Toke Skovsgaard; Dutta, Jayasri - 2001
In the past 15 years, incentive-based environmental policy instruments, such as pollution taxes and tradeable pollution … society that seeks to lower the level of pollution from industrial production to a pre-specified target. The target can be … implemented by one of three instruments: [Q]: quantity controls; [P]: tradeable permits; and [T]: pollution taxes. We characterize …