First published in 1985, Emissions Trading was a comprehensive review of the first large-
scale attempt to use economic incentives in environmental policy in the US and of the …

A key component of California's cap-and-trade program is the use of carbon offsets as
compliance instruments for reducing statewide GHG emissions. Under this program, offsets …

Concerns about energy security and climate change have sparked legislators' interest in
reducing gasoline consumption by increasing corporate average fuel-economy (CAFE) …

This paper proposes an analytical framework for assessing policies that will contribute to a
better integration of environmental externalities in the pursuit of economic efficiency and …

Efficient regulation of the commons requires information about the regulated firms that is
rarely available to regulators (eg, cost of pollution abatement). This paper proposes a simple …

This article provides an overview of the economics of environmental policy, including the
setting of goals and targets, notably the Kaldor-Hicks criterion and the related method of …

This paper reviews alternative (national and international) climate change mitigation policy
instruments and interactions across them. Carbon taxes, cap-and-trade schemes, standards …

The economic analysis of law enforcement holds that greater expected sanctions lead to
greater compliance. The literature on positive and negative incentives holds that rewards …

In much of the literature on externalities, taxes and direct regulation have been considered
as alternative policy instruments. Both instruments might be imperfect in practice, reflecting …

Many people regard climate change as an impending problem. I do not. Given the need to
take immediate and drastic action to reduce greenhouse gas emissions, the threat posed by …