Comparing Environmental Markets with Standards

Robert Hahn

Canadian Journal of Economics, 1993, vol. 26, issue 2, 346-54

Abstract: This paper argues that the traditional approach to comparing environmental markets and standards can be enhanced in two ways. The first is by providing a more realistic assessment of the impact of various uncertainties on policy outcomes. The second is by providing a more realistic assessment of the political constraints that limit the range of feasible policies. The analysis examines how the introduction of these enhancements could affect instrument choice comparisons.

Date: 1993
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