technological uncertainty favors taxes over cap and trade. Weitzman models a flow pollutant, but greenhouse gases are persistent …

We study the regulation of a morally responsible agent in the context of a negative consumption externality and …

Much of the literature on externalities has considered taxes and direct regulation as alternative policy instruments … use of taxes and regulation in combination, to control externalities arising from individual consumption behaviour. We … level of direct regulation alters the optimal externality tax. -- externalities ; Pigouvian taxes ; regulations …