implementation of profitable building projects. We present a novel laboratory experiment on the feasibility of TDR and simulate the …

choose whether to participate in an auction to attain pollution permits, or instead invest in green R&D, to show that …Acquired wisdom has it that the allocation of pollution rights to firms hinders their willingness to undertake …, somewhat counterintuitively, a side effect of the auction is in fact that of fostering environmental R&D in an admissible range …

subsidize pollution control and other environmental measures. Although those expenditures have often achieved environmental …