What information does a government need if it wants to attempt to reduce a widespread negative externality like air pollution? Who, typically, is actually in possession of that information? How do markets in tradeable emissions permits solve the asymmetric information problem affecting pollution abatement efforts?

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What information does a government need if it wants to attempt to reduce a widespread
negative externality like air pollution? Who, typically, is actually in possession of that
information? How do markets in tradeable emissions permits solve the asymmetric information
problem affecting pollution abatement efforts?

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