expected welfare than "flat" emission standards given uncertainty in demand for output (or attributes), assuming locally …

to those in the rest of the world, any uncertainty over these costs will cause the social planner to optimally delay … traditional framework, the presence of an irreversible investment and uncertainty can help nudge the decision maker to preserve an …-renewable resource model, the arbitrage condition underpinning the Hotelling rule suggests that in the absence of uncertainty, the …

I use U.S. patent data from 1970 to 1994 to estimate the effect of energy prices on energy-efficient innovations. Using …-side factors, such as scientific advancements that make new innovations possible. I find that both energy prices and the quality of …