Restiani, Phillia; Betz, Regina - Crawford School of Public Policy, Australian National … - 2010
Australian Carbon Pollution Reduction Scheme proposed design of tying the penalty rate to the auction price. Compliance … design under the presence of subjects‟ risk preferences might affect compliance incentives, permit price discovery, and … efficiency. In contrast to theory, we find that penalty levels serve as a focal point that indicates compliance costs and affects …