Tradable emissions permits have important theoretical advantages over source-specific technical standards as a means for controlling pollution. Nonetheless, difficulties can arise in trying to implement an efficient, competitive market in emissions permits. Simple workable versions of the market...

A group of economists and scientists met at Stanford University on October 18, 2008 to discuss the role of research and development in developing effective policies for addressing the adverse potential consequences of climate change. We believe that climate change is a serious issue that...

As economists, we believe that the Second Circuit's ruling, by not allowing the consideration of important information about the relationships between the benefits and costs of alternatives, is economically unsound. In particular, we believe that, as a general principle, regulators cannot make...