Holcombe, Randall G.; Meiners, Roger E. - In: Public Finance Review 8 (1980) 3, pp. 345-349
Auctions of pollution rights have sometimes been suggested as an alternative to corrective taxes. These two methods of pollution control are not, in general, equivalent, however. When pollution rights are auctioned, the right to pollute is equivalent to the right to produce, so the auction of...