Seek variety and skin in the game (and avoid non binding agreements)

“the usual approach to setting the standard—equate expected marginal compliance cost to marginal damage—is likely to be sub-optimal because the standard may not bind if the realized gasoline price is sufficiently high. Instead, the optimal fixed standard will be relatively relaxed and may be non-bind…” via IFTTT from http://amzn.com/k/xf_-_sA_R8KM9m1CXU8i2Q

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