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Environmental & Resource Economics(4) The EPA is committed to attain an emission target for a pollutant. It creates a non-transferable permit system and each firm
Environmental & Resource Economics(4)
The EPA is committed to attain an emission target for a pollutant. It creates a non-transferable permit system and each firm is allocated a maximum amount of emissions. If polluters believe that their actions are not observed, how successful will this system be in the long run?
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