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The ambient permit system proposed in the literature for cost-effective pollution reduction is difficult to implement and may result in lower net benefits than using another instrument. The article develops a model for comparing the environmental net benefits of three policy instruments for...
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Recommended readings (Machine generated): Roland Bénabou and Jean Tirole (2003), 'Intrinsic and Extrinsic Motivation', Review of Economic Studies, 70 (3), July, 489-520 -- Kjell Arne Brekke, Snorre Kverndokk and Karine Nyborg (2003), 'An Economic Model of Moral Motivation', Journal of Public...
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