We propose that international climate change policy would be strengthened by the development and adoption of targets for atmospheric concentrations of greenhouse gases 25-50 years in the future in addition to near- and long-term targets. 'Interim concentration targets', which could be...

Consumers are influenced, not only by prices, but also by how those prices are labelled, and by the policies that undergird those prices. Steps to limit carbon emissions, including putting a “price” or a “limit” on emissions, can be undertaken in a variety of ways, and these policies are...

We characterize environmental quality as a stock, and its rate of deterioration as a flow. We consider a class of problems, which we call “SFQ” problems, in which both stocks and flows can be controlled to promote the quality of a resource stock. Abatement (curbing the flow) and restoration...

In the realm of environmental policy instrument choice, there is great divergence between the recommendations of normative economic theory and positive political reality. Four gaps stand out. First, despite the advantages of market-based policy instruments, they have been used to a minor degree,...