Policy Instruments for Mitigating Carbon Dioxide Emissions
- Benefit-cost analysis
The systematic appraisal of all benefits and all costs of a specific course of action.
- Cap and trade
The policy instrument of assigning a limited number of property rights to the environment (typically in the form of emission allowances) and then letting recipients of those rights to trade them in the marketplace to achieve the least-cost mitigation of a given pollutant.
- Carbon tax
Imposing a fee per unit of carbon (or other greenhouse gas measured in carbon equivalents) in order to create a disincentive for pollution emissions.
- Economic efficiency
Obtaining the maximum outcome from the use of limited resources, as in the maximum economic output given a fixed amount of inputs by a producer and the maximum utility from a given combination of goods and services by a consumer.
- Economic policy instruments
The institutional means of implementing environmental goals.
- Emission allowance auction
Selling emission allowances to the highest bidder, as opposed to...
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