Stronzik, Marcus; Hunt, Alistair; Eckermann, Frauke; … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003
Transaction costs and risk have generally not been taken into account in assessing the Kyoto mechanisms JI, CDM and emissions trading. However, they can have a significant influence. With regard to the project-based mechanisms, the factor that most determines the influence of transaction costs...
