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With a carbon tax, the price of carbon is set but the quantity of carbon abated is uncertain. With a cap and trade on the
With a carbon tax, the price of carbon is set but the quantity of carbon abated is uncertain. With a cap and trade on the other hand, the quantity of carbon abated is set and the price of carbon is uncertain. Even if one had perfect knowledge of the abatement cost curve, this would not reduce either uncertainty
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