Contrast emission fees (fee per unit emissions) and marketable permits (permit to emit one unit in perpetuity)
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Contrast emission fees (fee per unit emissions) and marketable permits (permit to emit one unit in perpetuity) from the point of view of commitment in a society with well-defined private property rights (i.e., property cannot be confiscated without compensation).
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In a society with welldefined private property rights such as one where property cannot be confiscated without compensation emission fees and marketable permits represent two distinct approaches to ad...View the full answer
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Branice Buyengo Ajevi
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