The fundamental question that needs to be addressed by public policy in the area of environmental protection as we move into the next century is, "what is the appropriate role of government?" This question emerges along three fundamental dimensions in relation to environmental protection, which...

Policy makers and analysts are often faced with situations where it is unclear whether market-based instruments hold real promise of reducing costs, relative to conventional uniform standards. We develop analytic expressions that can be employed with modest amounts of information to estimate the...