Environmental Market Failures: Are There Any Local Market-Based Corrective Mechanisms for Global Problems?
Robert, U. Ayres
Mitigation and Adaptation Strategies for Global Change 1(3): 289-309
ISSN/ISBN: 1381-2386 DOI: 10.1007/bf00517808
The paper reviews various policy tools that have been discussed in the literature, including legal, administrative and fiscal (tax) schemes, as well as tradeable emission permits, and concludes that none of them are really suitable for dealing with global problems.