This chapter discusses that redistributing resource endowments from people who contribute to public goods to other people who contribute to public goods will have no effect on the aggregate contributions to public goods. However, redistribution from non-contributors to contributors will result...

Emissions trading refer to the exchange of permits conveying the legal right to discharge specified quantities of waste. Unlike naturally occurring markets for many commodities and services, emissions trading markets are the product of deliberate choices by regulatory authorities. Frequently...

This chapter summarizes the price performance of double-auction and posted-offer markets generated in 120 laboratory sessions and more than 1800 trading periods. It shows that the mean contract price differences between double auction and posted offer institutions, which are common in...