Fischer, Carolyn; Withagen, Cees; Toman, Michael - In: Environmental & Resource Economics 28 (2004) 3, pp. 325-345
For the mitigation of long-term pollution threats, one must consider that both the process of environmental degradation and the switchover to new and cleaner technologies are dynamic. We develop a model of a uniform good that can be produced by either a polluting technology or a clean one; the...