Brandt, Urs Steiner; Svendsen, Gert Tinggaard - In: International Journal of Global Environmental Issues 13 (2013) 1, pp. 25-42
CDM projects have large potentials but also face significant obstacles that have so far limited their applicability. Two serious problems that an effective contracting faces are the presence of private information and the lack of sufficiently precise output measures. In a principal-agent...