Shobe, William; Holt, Charles; Huetteman, Thaddeus - In: Journal of Economic Behavior & Organization 107 (2014) PA, pp. 402-420
We use a set of economic experiments to test the effects of some novel features of California's new controls on greenhouse gas emissions. The California cap and trade scheme imposes limits on allowance ownership, uses a tiered price containment reserve sale, and settles allowance auctions based...