Carlson, Dale and Forman, Charles and Olmstead, Nancy and Ledyard, John O. and Plott, Charles R. and Porter, David P. and Sholtz, Anne (1993) An Analysis and Recommendation for the Terms of the RECLAIM Trading Credit. South Coast Air Quality Management District , Diamond Bar, CA. https://resolver.caltech.edu/CaltechAUTHORS:20140401-152938560
|
PDF
- Published Version
See Usage Policy. 1439Kb |
Use this Persistent URL to link to this item: https://resolver.caltech.edu/CaltechAUTHORS:20140401-152938560
Abstract
The South Coast Air Quality Management District (AQMD) has proposed an annual RECLAIM Trading Credit (RTC) with uniform issue and compliance dates as the trading instrument for its market-based regulatory program. The proposed design for this instrument carries potential problems for both RECLAIM facilities and AQMD, including market imbalances, price volatility, economic inefficiencies, and an increase in ambient emission peaks. These problems result directly from the design of the instrument, and they can be alleviated through the selection of alternate design variables and a change in the allocation of RTCs to RECLAIM facilities. Both the problems and the effectiveness of the solutions have been tested and documented in experiments conducted in the Laboratory for Experimental Economics and Political Science at the California Institute of Technology.
Item Type: | Report or Paper (Report) |
---|---|
Additional Information: | Contract No. R-C93074. April 27, 1993. |
Record Number: | CaltechAUTHORS:20140401-152938560 |
Persistent URL: | https://resolver.caltech.edu/CaltechAUTHORS:20140401-152938560 |
Usage Policy: | No commercial reproduction, distribution, display or performance rights in this work are provided. |
ID Code: | 44592 |
Collection: | CaltechAUTHORS |
Deposited By: | Susan Vite |
Deposited On: | 28 Oct 2014 22:57 |
Last Modified: | 03 Oct 2019 06:19 |
Repository Staff Only: item control page