Jurisdictions are in the process of establishing regulatory systems to control greenhouse gas emissions. Short-term and sometimes long-term emissions reduction goals are established, as California does for 2020 and 2050, but little attention has yet been focused on annual emissions targets for...

Using a simple analytical model incorporating benefits of a stock, costs of adjusting the stock, and uncertainty in costs, we uncover several important principles governing the choice of price-based policies (e.g., taxes) relative to quantity-based policies (e.g., tradable permits) for...

Over the past decade geoengineering has steadily built momentum in academic and policy circles as a potential response to the risk of rapid climate change. Geoengineering has moved from a fringe idea to a serious topic of policy discussion. We argue that there are two reasons for the rise of...