Benthem, Arthur A. van; Kerr, Suzi - Australian Agricultural and Resource Economics Society … - 2011
transfers. We show that discounting (paying less than full value for offsets) is inefficient and cannot be used to reduce the … fraction of offsets that are spurious while setting stringent baselines generally can. Both approaches reduce the cost to the … offsets buyer. The effects of two popular policy options are less favorable than many believe: Limiting the number of offsets …