technologies which reduce the cost of pollution abatement. The innovating firm can patent this innovation and use a licensing fee … a pollution tax or a marketable permit. However, the returns to the innovator from innovation are not the same under the …

can establish the overall pollution-reduction goal for a cap-and-trade system by setting the cap, and leave it up to the … theory and in practice. A number of factors can call the independence property into question theoretically, including market …

pollution-related industries. The government can avoid such losses by freely allocating some emissions permits or by exempting … some inframarginal emissions from a pollution tax. However, preventing profit-losses in this way involves an efficiency … the other efficiency costs of pollution-control. When the abatement requirement becomes more extensive, the cost of this …

This essay revisits the question of instrument choice for the regulation of externalities in the context of climate …

theoretical and empirical research to evaluate the effects of such reforms on tax revenue, pollution emissions, economic …

costs of regulation and seriously militate against pollution abatement policies that do not raise revenue. If the marginal … environmental benefits from pollution reductions are below a certain threshold value, any amount of pollution abatement through non …