Holland, Stephen P.; Moore, Michael R. - In: Journal of Environmental Economics and Management 66 (2013) 3, pp. 671-687
Cap and trade programs have considerable heterogeneity in permit validity and compliance timing. For example, permits have different validities across time (e.g., banking, borrowing, and seasons) and space (e.g., zonal restrictions), and compliance timing can be annual, in overlapping cycles, or...