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Comparing Environmental Markets with Standards

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  • Robert W. Hahn

Abstract

This paper argues that the traditional approach to comparing environmental markets and standards can be enhanced in two ways. The first is by providing a more realistic assessment of the impact of various uncertainties on policy outcomes. The second is by providing a more realistic assessment of the political constraints that limit the range of feasible policies. The analysis examines how the introduction of these enhancements could affect instrument choice comparisons.

Suggested Citation

  • Robert W. Hahn, 1993. "Comparing Environmental Markets with Standards," Canadian Journal of Economics, Canadian Economics Association, vol. 26(2), pages 346-354, May.
    • Handle: RePEc:cje:issued:v:26:y:1993:i:2:p:346-54
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    Cited by:

    1. Marcel Boyer & Donatella Porrini, 2004. "Modelling the choice between regulation and liability in terms of social welfare," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(3), pages 590-612, August.

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