Urged by the European Energy Crisis and the threatening consequences of severe natural gas shortages, energy providers launched gas-saving initiatives incorporating financial incentives to reduce residential natural gas consumption. In collaboration with one of Germany's largest energy...

Urged by the European Energy Crisis and the threatening consequences of severe natural gas shortages, energy providers launched gas-saving initiatives incorporating financial incentives to reduce residential natural gas consumption. In collaboration with one of Germany’s largest energy...

The central appeal of environmental markets - efficient allocation of emission reductions - has been difficult to establish empirically. We develop a framework linking the theoretical change in allocative efficiency following a market-based policy to a quasi-experimental estimator. We apply this...