Prices vs. Quantities¶
Weitzman, M. (1974). Prices vs. Quantities. The Review of Economic Studies, 41(4), 477-491.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Mechanisms¶
- Tradable Permit System
- This is the tool to reach for when the environmental constraint is a genuine ceiling — a total load the system can absorb, a stock that must not be crossed — because the cap guarantees the aggregate outcome while the trading lets reductions happen wherever they are cheapest.
This sourceExplains that a quantity instrument directly fixes the regulated quantity, while the relative merits of price and quantity controls depend on uncertainty and the relevant cost and benefit slopes.
- This is the tool to reach for when the environmental constraint is a genuine ceiling — a total load the system can absorb, a stock that must not be crossed — because the cap guarantees the aggregate outcome while the trading lets reductions happen wherever they are cheapest.
Verification¶
Does it exist? Confirmed. This work's DOI resolves to a registered record, which fixes its identity. That is all it fixes.
Does it back the claim? Not recorded. The single citation of this work carries no recorded support check.
Was it audited? Yes. A second, independent pass read the citation against the article text and recorded a verdict.
Support is checked per citation rather than per work — the same source can be cited soundly in one article and wrongly in another. Per-citation recording began recently, so a citation with no recorded check is a gap in the record rather than evidence it went unchecked.
See how references were verified.
Registry ID ref:be172fd3bd2b · see in the full table