The U.S. Acid Rain Program implemented a nationwide market for electric utilities' sulfur dioxide (SO2) emissions and included voluntary compliance possibilities for nonaffected sources. I observe significant voluntary participation 'albeit with small impact on the SO2 market' mostly from...

In many markets insurers are barred from price discrimination based on con- sumer characteristics like age, gender, and medical history. In this paper, I build on a recent literature to show why such policies are inefficient if consumers differ in their willingness-to-pay for insurance...