We analyze the problem of introducing a new substitute for a polluting process while the environmental effects of this substitute are uncertain but will be resolved over time. The chlorofluorocarbons may serve…
This paper provides an overview of the treatment of technological change in economic models of environmental policy. Numerous economic modeling studies have confirmed the sensitivity of mid- and long-run climate…
Taking account of sinks credits as agreed in Bonn and Marrakech, this paper illustrates how market power could be exerted in the absence of the US ratification under Annex 1 trading and explores the potential…