Inducing investments and regulating externalities by command versus taxes
A linear tax on an externality-generating activity may not attain the first-best social optimum. The problem arises because a monopolist's gain from improving the characteristics of a product may differ from social gian, even when consumers are willing to pay for change.Â
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- M. L. Weitzman, 1973.
"Prices vs. Quantities,"
106, Massachusetts Institute of Technology (MIT), Department of Economics.
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- Jung, Chulho & Krutilla, Kerry & Boyd, Roy, 1996. "Incentives for Advanced Pollution Abatement Technology at the Industry Level: An Evaluation of Policy Alternatives," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 95-111, January.
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