Stranlund, John K.; Murphy, James J.; Spraggon, John M. - Department of Economics, College of Business and Public … - 2014
We present results from laboratory emissions markets designed to investigate the effects of price controls and permit … dispersion, combining price controls and permit banking yields important benefits. Banking alone produces high permit prices in …, banking, price controls, and the combination all produce higher between-period emissions volatility. Hence, for emissions …