Consider the case of J polluters and with abatement cost functions C j (e j ) and
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Consider the case of J polluters and with abatement cost functions Cj(ej) and one pollution victim. Abatement costs are ordered from highest to lowest such that C1(e1)>C2(e2)>…>CJ(eJ). Assume the pollution victim approaches the polluters in order to offer compensation for pollution reductions. Characterize the optimal contract when the polluter pays all transaction costs.
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In this scenario the pollution victim is trying to convince the polluters to reduce their emissions ...View the full answer
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Mehwish Aziz
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Related Book For 
A Course In Environmental Economics
ISBN: 9781316866818
1st Edition
Authors: Daniel J Phaneuf, Till Requate
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