banking on limiting permit price risk. While both instruments reduce between-period price volatility and within-period price … 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 …

banking on limiting permit price risk. While both instruments reduce between-period price volatility and within-period price … 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 …

paper we test this possibility based on a series of laboratory experiments. Contrary to what theory predicts, our …