@article{Pizer:10584,
      recid = {10584},
      author = {Pizer, William A.},
      title = {Climate Policy Design under Uncertainty},
      address = {2005},
      number = {1318-2016-103529},
      series = {Discussion Paper 05-44},
      pages = {22},
      year = {2005},
      abstract = {The uncertainty surrounding both costs and benefits  associated with global climate change mitigation creates  enormous hurdles for scientists, stakeholders, and  decision-makers. A key issue is how policy choices balance  uncertainty about costs and benefits. This balance arises  in terms of the time path of mitigation efforts as well as  whether those efforts, by design, focus on effort or  outcome. This paper considers two choices-price versus  quantity controls and absolute versus relative/intensity  emissions limits-demonstrating that price controls and  intensity emissions limits favor certainty about cost over  climate benefits and future emissions reductions. The paper  then argues that in the near term, this favoritism is  desired.},
      url = {http://ageconsearch.umn.edu/record/10584},
      doi = {https://doi.org/10.22004/ag.econ.10584},
}