Environmental regulators often have imperfect information about regulated firms' abatement costs. In this paper we compare taxes and emissions permits in a dynamic setting in which firms behave strategically. The regulator updates policy over time based upon previous aggregate industry...

This multidisciplinary work explores ways of making environmental policy decisions in managing public goods and natural parks with the goal of maximizing economic benefits to society. The contributors to the volume seek the best strategies for improving the environmental sustainability and...