Recently, several articles rely on marginal abatement cost (MAC) curves to analyze the EU ETS. While the assumptions on MAC curves drive the results, the prevailing literature on the EU ETS does not take the shape of MAC curves into account. This paper discusses the implications of MAC curve...

Recently, several articles rely on marginal abatement cost (MAC) curves to analyze the EU ETS. While the assumptions on MAC curves drive the results, the prevailing literature on the EU ETS does not take the shape of MAC curves into account. This paper discusses the implications of MAC curve...

Pastoral farming can result in adverse environmental effects such as nitrogen leaching and greenhouse gas emissions. However, the cost of mitigation and hence the socially appropriate level of tolerance for environmental effects is still unclear. Research to date within New Zealand has either...