Carbon taxes are a prominent policy instrument for decreasing the consumption of CO2-intensive goods in order to reduce the negative external effects involved in the production or consumption of such goods. A tax leads to higher consumer prices, which typically lowers consumption. However, in...

We develop a framework for natural resource valuation that directly addresses the fundamental collective action problem in environmental protection. Our framework uses the lessons of behavioral economics to create values that individual decision makers find credible and relatable, in addition to...