Webster, Mort; Sue Wing, Ian; Jakobovits, Lisa - In: Journal of Environmental Economics and Management 59 (2010) 3, pp. 250-259
Current proposals for greenhouse gas emissions regulations in the United States mainly take the form of emissions caps with tradable permits. Since Weitzman's (1974) [3] study of prices vs. quantities, economic theory predicts that a price instrument is superior under uncertainty in the case of...