This paper reports a laboratory experiment that studies several specific features of the Regional Clean Air Incentives Market (RECLAIM), a tradable emission permit program intended to lower the cost of meeting federal air quality standards in the Los Angeles area. It assesses the impact of some permit trading rules and alternative regulatory policies on market performance. The experiment focuses on a new centralized system of trading called the Electronic Bulletin Board.
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Length: 28 pages Date of creation: 1997 Date of revision: Handle: RePEc:mlb:wpaper:592
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Find related papers by JEL classification: C9 - Mathematical and Quantitative Methods - - Design of Experiments Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water K32 - Law and Economics - - Other Substantive Areas of Law - - - Environmental, Health, and Safety Law
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