Policy Documents

Uncertainty Can Go Both Ways

David R. Henderson –
June 11, 2013

In this article in Regulation Magazine, the author examines a prior essay from Bob Littman on pricing of carbon emissions.  He contends that A deeper appreciation of uncertaintyover the effect of carbon emissions on people’s lives leads to a wider range of reasonable policies than Litterman considers.


David R. Henderson is a research fellow with the Hoover Institution and an associate professor of economics in the Graduate School of Business and Public Policy at the Naval Postgraduate School in Monterey, Calif. From 1983 to 1984, he was the senior economist for energy policy with President Reagan’s Council of Economic Advisers. He blogs at www. econlog.econlib.org.