working paper
A linear tax on an externality-generating activity may not attain the first-best social optimum. The problem arises because a monopolist’s gain from improving the characteristics of a product may differ from the social gain, even when consumers are willing to pay for the change.
working paper |
Sep 1994
working paper |
Aug 1996
working paper |
Sep 1997
working paper |
Aug 1996
working paper |
Nov 1994