Offsets lower the cost of cap-and-trade programs but must be considered imperfect if they cannot exclude “non-additional” emissions reductions or sequestration gains that would have occurred in their absence. Non-additionality can be addressed by requiring project-level additionality tests,...

Using data on angler choices from the Marine Recreational Information Program (MRIP) of the National Oceanic Atmospheric Administration (NOAA), we demonstrate a level of racial aversion in which anglers are less likely to fish from a site with larger black and Hispanic population proportions...

The 1990 amendments to the Clean Air Act created a trading program in sulfur dioxide (SO2) emissions that has served as the seminal example of how an emissions trading program could be designed. Yet despite its success, the trading program was essentially brought to an end by a series of...