Financial markets, processes, and instruments are often difficult to fathom; and recent
turbulence suggests they may be out of control in some respects. Donald Mackenzie is one …

The questions addressed in this paper include: What is a laboratory experiment? What are
the reasons why economists conduct such experiments? What have we learned? Among the …

It is not only the great number of papers written on environment economics that make it
worth dealing with this special branch of experimental research, but the environmental …

John McMillan's Reinventing the Bazaar is an extremely accessible description of markets
large and small, as well as an explanation of their underlying mechanisms. An" absolutely …

Substantial reductions in carbon emissions are necessary to control global warming.
However, the low capacity of individual companies to reduce emissions can constrain the …

An auction of carbon permits is the best way to achieve domestic carbon caps designed to
limit global climate change. To minimize administrative costs, permits would be required at …

Markets for Clean Air provides a comprehensive, in-depth description and evaluation of the
first three years' experience with the US Acid Rain Program. This environmental control …

General combinatorial auctions—auctions in which bidders place unrestricted bids for
bundles of goods—are the subject of increasing study. Much of this work has focused on …

This paper summarizes recent empirical research on compliance costs and strategies and
on permit market performance under the US acid rain program, the first large-scale, long …

Combinatorial auctions have two features that greatly affect their design: computational
complexity of winner determination and opportunities for cooperation among competitors …