The economic value is expressed by prices, but their high volatility was a strong reason to consider other elements to be used for measurement. The most appropriate elements for this were established by the theories of value that explain how value is created, enhanced, transferred, and how it...

This honors thesis will examine current and theoretical "cap and trade" emissions trading schemes in an attempt to make recommendations on how to improve this regulated commodity market. The various control mechanisms available to regulators will be discussed: including allocation methodology,...

In this paper, we extend the well known result that hyperbolically discounting agents tend to postpone costs into the future. In a simple model we show that, without commitment to the ex ante optimal plan, no investment in environmental protection is undertaken over the whole time horizon, no...

This policy note investigates whether the current level of public support to environment-friendly technologies is sufficient to allow European countries to respond to the multiple challenges posed by climate change and other environmental concerns. We first lay out the justifications for...