Tradable Permits Theory: Firm Impacts and Decision-Making

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This section analyzes how current or proposed emissions-reduction programs may impact various types of regulated firms, primarily in terms of cost of operation, and how firms may adapt to the constraints imposed on them by the programs.

Many of this section's references compare the relative impact on firms from different instrument choices, such as tradable permits versus emissions taxes. Others compare the relative impact on firms of tradable permit programs with different design features.