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Category Archives: Pollution
How does a competitive industry respond to an emissions tax in the short run and the long run? What if the industry is a monopoly? In this post I bring together two standard pieces of microeconomic analysis: the effect of … Continue reading
The behaviour on which revealed preference valuation methods are based almost inevitably results from thought processes involving bounded rationality. What does that imply for such methods? The insights of behavioural economics have been applied to many sub-fields of economics, and … Continue reading
Discussions of pollution control often focus on abatement technologies. But that’s only half the picture. Suppose a profit-maximising firm is producing and selling a good, but the production process emits a pollutant. In the absence of policy intervention, it will … Continue reading