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 …

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 …

This paper discusses the environmental externalities that are commonly found in the developing world (the environmental …

Most regulations designed to reduce environmental externalities impose costs on individuals and firms. An active body … environmental externalities. We review this burgeoning literature and develop a simple and general framework for focusing future … empirical investigations. We apply our framework to findings related to the economic impact of air pollution, deforestation, and …

I examine Ronald Coase's criticism of standard regulatory and tax policies to address environmental externalities. I …

harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … help to explain the observed predominance of liability over taxation, except in the area of pollution. The following …

Taxation and liability are compared here as means of controlling harmful externalities. It is emphasized that liability …

pollution regulation. However, these studies have made restrictive assumptions regarding individual preferences and have ignored … key links between pollution, human health, and labor productivity. Together, these assumptions imply that the benefits of … that when the benefits of reduced pollution come in the form of improved health or productivity, the benefits do affect …