Pizer's research seeks to quantify how the design of environmental policy affects costs and effectiveness. Specific research has focused on the aggregate level and distribution of these costs; uncertainty about cost; technological change; banking, trading and other flexibility mechanisms; and valuation over long time horizons. He applies much of this work to the question of how to design and implement policies to reduce the threat of climate change caused by manmade emissions of greenhouse gases. Currently, he is working on projects that look at the effectiveness of voluntary programs, the role of technology programs in pollution control efforts, and the effect of regulation on competitiveness.