Examines the interplay between market dynamics and social welfare, highlighting the roles of willingness to pay and willingness to accept in economic models.
Explores the equilibrium in competitive markets, the impact of non-competitive forces, and the role of government intervention in aligning markets with social welfare.
Delves into environmental regulation mechanisms like quantity caps, consumption caps, and taxes, emphasizing the importance of aligning private costs with social costs for optimal outcomes.
Explores regulating market externalities through taxes, subsidies, and tradable quotas to achieve optimal production levels and internalize external costs.
Explores policy instruments to reduce external costs and mitigate environmental impacts, emphasizing the potential for green growth and emission abatement measures.
