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

negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in …

Subsidies and in-kind transfers give rise to negative fiscal externalities. However, internalizing negative fiscal … externalities through taxation would undo the subsidy or in-kind transfer that caused them. Similarly, positive fiscal externalities … cannot be internalized though government subsidies. This paper describes a mechanism that transfers fiscal externalities from …

Is there a way to understand why some global environmental externalities are addressed effectively whereas others are …

The extent of voluntary cooperation in the presence of externalities is shown as an equilibrium outcome in the supply … character of the costs resulting from externalities. The paper discusses applications including forest management, volume …

commit to contracts, virus externalities are local, and competitive equilibria are efficient. The Second Welfare Theorem also … their infection status. If society cannot control virus exposure, then virus externalities are global and competitive … externalities and result in inefficiently high economic activity. If agents cannot commit, competitive equilibria are inefficient …