In this article, we look at the combination of several market-based climate and energy policies and compare them with first best solution, i.e., a perfectly designed emission tax or emission cap level. It is shown that in the case an emission control policy is imperfect designed or implemented,...

The British Columbia halibut fishery provides a natural experiment of the effects of "privatizing the commons". Using firm-level data from the fishery two years before private harvesting rights were introduced, the year they were implemented, and three years afterwards, a stochastic frontier is...