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Persistent link: https://www.econbiz.de/10011498073
This paper extends the Baumol-Oates result which proves that a fee (subsidy) which achieves a given level of an undepletable externality (pure public good), does so at a minimum cost to society. The extension proves that such a fee (subsidy) is also a quasi-optimal Pareto solution for a...
Persistent link: https://www.econbiz.de/10005133292