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Under uncertainty, the optimal choice between price and quantity instruments depends on the technology of the regulated firms, which is often private information. We consider an environmental policy that delegates the prices-versus-quantities decision to the firms by offering them the choice...
Persistent link: https://www.econbiz.de/10008868493
Persistent link: https://www.econbiz.de/10009025027
Environmental policy often has to be devised under informational constraints,like uncertainty and asymmetric information. We consider an environmentalpolicy that aims at reducing the welfare losses caused by asymmetricinformation while being sufficiently simple for implementation. Inthis policy,...
Persistent link: https://www.econbiz.de/10009025050