A complete implementation of the efficient allocation of pollution
This paper presents a simple twofold mechanism that attains a complete implementation of the efficient allocation of pollution. The first component is adopted from Duggan and Roberts [Duggan, J., Roberts, J., 2002. Implementing the efficient allocation of pollution. American Economic Review 92, 1070-1078.]. The second new component takes care of the moral hazard problem.
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"Implementing the Efficient Allocation of Pollution,"
American Economic Review,
American Economic Association, vol. 92(4), pages 1070-1078, September.
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