prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost …Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing … structure. I show that one cannot determine which regulatory instrument that induces the highest expected welfare based on the …

This paper examines the investment incentives of market-based regulation, with focus on the technology characteristics … aggregate emission allowance supply is completely inelastic. Further, in the presence of uncertainty, elastic emission allowance … supply and strictly convex environmental damage, it is optimal to tax investment in technologies that induce large variance …

prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost …Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing … structure. I show that one cannot determine which regulatory instrument that induces the highest expected welfare based on the …

prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost …Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing … structure. I show that one cannot determine which regulatory instrument that induces the highest expected welfare based on the …

prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost …Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing … structure. I show that one cannot determine which regulatory instrument that induces the highest expected welfare based on the …

prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost …Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing … structure. I show that one cannot determine which regulatory instrument that induces the highest expected welfare based on the …

under uncertainty. A tax encourages the most flexible technology if and only if stochastic costs and the equilibrium permit …

under uncertainty. A tax encourages the most flexible technology if and only if stochastic costs and the equilibrium permit …

technology choice is endogenous, given that regulation is designed to induce equal expected aggregate emissions. Moreover, either …

The socioeconomic impact of pollution naturally comes with uncertainty due to, e.g., current new technological … scenario will be realised and the scientific debate is still open. This paper captures those two layers of uncertainty by …