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In today's video, we revisit the core market failures (externalities, public goods, and common resources) and explore the economic "toolbox" used to fix them. We'll also look at two real-world case studies from the US and Canada. References mentioned: Murray, B., & Rivers, N. (2015). British Columbia’s revenue-neutral carbon tax: A review of the latest "grand experiment" in environmental policy. Energy Policy, 86, 674–683. https://doi.org/10.1016/j.enpol.2015..... Rivers, N., & Schaufele, B. (2015). Salience of carbon taxes in the gasoline market. Journal of Environmental Economics and Management, 74, 23–36. https://doi.org/10.1016/j.jeem.2015.0.... Schmalensee, Richard, Paul L. Joskow, A. Denny Ellerman, Juan Pablo Montero, and Elizabeth M. Bailey. (1998). An Interim Evaluation of Sulfur Dioxide Emissions Trading. Journal of Economic Perspectives 12 (3): 53–68. DOI: 10.1257/jep.12.3.53. Schmalensee, R., & Stavins, R. N. (2013). The SO2 allowance trading system: The ironic history of a grand policy experiment. Journal of Economic Perspectives, 27(1), 103–122. https://doi.org/10.1257/jep.27.1.103. This video is part of a microeconomics and the environment playlist, focused on applying core economic concepts to environmental challenges: • Microeconomics and the Environment If you would like to know more about my work, here is my website: econ4conservation.com