We study the importance of anticipated learning - about both environmental damages and abatement costs - in determining the level and the method of controlling greenhouse gas emissions. We also compare active learning, passive learning, and parameter uncertainty without learning. Current beliefs...

We develop the concept of aggregate emission targets, which are goals for national emissions but do not dictate the forms of regulation used to achieve the goals. We compare aggregate emission intensity, quantity, and price targets adopted at the national level but implemented cost effectively...

This article presents lessons from the rich adoption literature for the nascent research on adaptation. Individuals' adoption choices are affected by profit and risk considerations and by credit and biophysical constraints. New technologies spread gradually, reflecting heterogeneity among...