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By Peter Cramton, Suzi Kerr, Suzi Kerr, Peter Cramton and Professor Economics


like to thank Boaz Moselle, Rob Stavins, Ian Parry, Larry Goulder, and the members of the Greenhouse Gas Emissions Trading Braintrust, and gratefully acknowledges funding provided to her under a cooperative agreement between the US Environmental Protection Agency’s Office of Policy, Planning and Evaluation and Resources for the Future. Cover photo: The main house at Airlie Center, the location of the Greenhouse Gas Emissions Trading Braintrust meetings. Photograph reproduced with the permission of Airlie Foundation. Additional papers in the Airlie series are available at the Center’s website

Year: 1998
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