The Becker-DeGroot-Marschak mechanism is used in experimental economies as an incentive-compatible procedure for eliciting reservation prices. It is found here, where seller prices are elicited, that the mechanism is sensitive to the choice of upper bound of the randomly generated buyout prices....

Experimental methods have recently been used to evaluate environmental policy instruments, in particular -- and most suitably, it seems -- emissions trading programs of various designs. Some studies have focused on domestic emissions trading programs, while others have focused on international...

Preference reversal has been frequent in tests with hypothetical, or small real, payoffs concerning lotteries as well as claims redeemable at different future dates. Preference reversal is tested here for the latter case with nontrivial payment levels and subjects likely to deal with decisions...

The cost-effectiveness of the KyotoProtocol and any similar non-global treatywould be enhanced by attracting additionalcountries to international emissions tradingand achieving this as soon as possible. Incontrast to what is heard in most of thedebate, such an enlargement is here taken to...

This paper evaluates the distributional implications of alternative permit allocations in a tradeable permit regime for carbon emissions reductions (20% below baseline) in 2010 for a region consisting of Europe and the states of the former Soviet Union (FSU). Participation in such a regime is...