Attribute-based subsidies (ABS) are commonly used to promote the diffusion of energy-efficient products, whose manufacturers often wield significant market power. We develop a theoretical framework for the optimal design of ABS to account for endogenous product attributes, environmental...

The social costs of pollution and climate change hinge critically on humans' ability to adapt. Based on transaction records from the world's largest payment network, this research compiles daily travel flows and documents that China's rapid expansion of high-speed railways (HSR) facilitates the...