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importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … impractical for the state to incorporate into taxes all of the variables that significantly affect expected harm; efficiency of … incentives under strict liability, which requires only that actual harms be measured; efficiency of incentives to exercise …
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This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience and serve to reduce transaction costs. The paper looks at mechanisms that stabilize rule systems, at...
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We develop a model with two types of electricity producers, fossil fuel utilities generating emissions, and suppliers of electricity from renewable resources such as wind energy. We account for the vertical structure of the wind-energy sector by considering wind-turbine producers engaged in...
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