Ghosh, Gaurav; Kwasnica, Anthony; Shortle, James - Institut für Future Energy Consumer Needs and Behavior … - 2010
We report results from an economic experiment where two markets institutions for controlling water pollution are … features of existing markets for water quality trading. First, pollution is stochastic, poorly observed and imperfectly … generates a superior environmental outcome to the trading ratio market. Furthermore, the average cost of pollution control is …