Reducing External Costs: Policy Instruments and Emission Abatement
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Explores cost-effective strategies for reducing CO2 emissions and introduces a price on emissions as an incentive for polluters to minimize costs while achieving emission reduction targets.
Explores regulating market externalities through taxes, subsidies, and tradable quotas to achieve optimal production levels and internalize external costs.
Explores the impact of carbon pricing on emissions and the challenges of aligning subjective and objective mitigation costs to achieve efficient emission reductions.
Examines the interplay between market dynamics and social welfare, highlighting the roles of willingness to pay and willingness to accept in economic models.
