Major carbon-pricing systems in Europe and North America involve multiple countries or states. Individual jurisdictions often pursue additional initiatives---such as unilateral carbon price floors, legislation to phase out coal, aviation taxes or support programs for renewable energy---that...

Beliefs about future allowance prices in cap-and-trade schemes are heterogeneous and not necessarily fully informed. This paper shows how carbon-market design affects the impact of noise traders on equilibrium prices. Price-based flexibility mechanisms encourage arbitrage by rational traders and...

We report evidence from a field experiment ($N=561$) on how different reasons for reducing the consumption of red meat (health, climate and animal welfare) impact intentions to change behavior, actual consumption of red meat and the enjoyment of meals. Surprisingly, the three concepts are not...

McCallum (1995, American Economic Review Papers and Proceedings 85 (2), 207-211) conjectures that delegation merely relocates the commitment problem but does not solve it. This holds if optimal ex-ante policies do not change if additional information becomes available. However, with a...

The performance of market based environmental regulation is affected by patents and vice versa. This interaction is studied for a new type of innovation where new technologies reduce emissions of a specific pollutant but at the same time cause a new type of damage. A robust finding is that the...