Read Chapter 15 of the textbook(Kolstad, Charles D. Environmental Economics. 2nd ed. New York, NY: Oxford University Press, 2000. ISBN: 0195119541). Summarize the chapter. In particular, explain how uncertainty can influence the choice of policy instrument. What is the significance of the “Weitzman principle” in the context of the model presented in chapter 15? Be sure to illustrate your conclusions.
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