Expecting the Unexpected: Emissions Uncertainty and Environmental Market Design
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We study potential equilibria in California's cap-and-trade market for greenhouse gases (GHGs) based on information available before the market started. We find large ex ante uncertainty in business-as-usual emissions and in the abatement that might result from non-market policies, much larger than
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美国国家经济研究局创建时间：
2015-03-01
