Smart Cap

The Market for "Lemons": Quality Uncertainty and the Market Mechanism

Akerlof, G. A. (1970) · The Quarterly Journal of Economics · doi:10.2307/1879431 · Cited by 23,016 · see citing works

Diffusion of innovations

Valente, T. W. (2003) · Genetics in Medicine · doi:10.1097/01.gim.0000061743.67794.c4 · Cited by 20,555 · see citing works

Prices vs. Quantities

Weitzman, M. L. (1974) · The Review of Economic Studies · doi:10.2307/2296698 · Cited by 2,850 · see citing works

Climate Change 2021—The Physical Science Basis

(2021) · Chemistry International · doi:10.1515/ci-2021-0407 · Cited by 2,268 · see citing works

Revisiting the social cost of carbon

Nordhaus, W. D. (2017) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1609244114 · Cited by 1,391 · see citing works

Effluent charges and licenses under uncertainty

Roberts, M. J., & Spence, M. (1976) · Journal of Public Economics · doi:10.1016/0047-2727(76)90014-1 · Cited by 759 · see citing works

Combining price and quantity controls to mitigate global climate change

Pizer, W. A. (2002) · Journal of Public Economics · doi:10.1016/s0047-2727(01)00118-9 · Cited by 681 · see citing works

Regulating stock externalities under uncertainty

Newell, R. G., & Pizer, W. A. (2003) · Journal of Environmental Economics and Management · doi:10.1016/s0095-0696(02)00016-5 · Cited by 470 · see citing works

How should environmental policy respond to business cycles? Optimal policy under persistent productivity shocks

Heutel, G. (2011) · Review of Economic Dynamics · doi:10.1016/j.red.2011.05.002 · Cited by 467 · see citing works

Discounting Disentangled

Drupp, M. A., Freeman, M., Groom, B., & Nesje, F. (2018) · American Economic Journal Economic Policy · doi:10.1257/pol.20160240 · Cited by 415 · see citing works

Regulation by Prices, Quantities, or Both: A Review of Instrument Choice

Hepburn, C. J. (2006) · Oxford Review of Economic Policy · doi:10.1093/oxrep/grj014 · Cited by 405 · see citing works

Correlated Uncertainty and Policy Instrument Choice

Stavins, R. N. (1996) · Journal of Environmental Economics and Management · doi:10.1006/jeem.1996.0015 · Cited by 377 · see citing works

Emissions targets and the real business cycle: Intensity targets versus caps or taxes

Fischer, C., & Springborn, M. (2011) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2011.04.005 · Cited by 343 · see citing works

Bankable permits for the control of environmental pollution

Kling, C. L., & Rubin, J. (1997) · Journal of Public Economics · doi:10.1016/s0047-2727(96)01600-3 · Cited by 254 · see citing works

On Imperfect Information and Optimal Pollution Control

Dasgupta, P., Hammond, P. J., & Maskin, E. S. (1980) · The Review of Economic Studies · doi:10.2307/2296917 · Cited by 241 · see citing works

Taxes and quotas for a stock pollutant with multiplicative uncertainty

Hoel, M. O., & Karp, L. S. (2001) · Journal of Public Economics · doi:10.1016/s0047-2727(00)00136-5 · Cited by 231 · see citing works

To Tell the Truth: Imperfect Information and Optimal Pollution Control

Kwerel, E. R. (1977) · The Review of Economic Studies · doi:10.2307/2296911 · Cited by 196 · see citing works

Optimal rewards for economic regulation

Weitzman, M. L. (1978) · American Economic Review · Cited by 196 · see citing works

New EU ETS Phase 4 rules temporarily puncture waterbed

Perino, G. (2018) · Nature Climate Change · doi:10.1038/s41558-018-0120-2 · Cited by 192 · see citing works

Managing Permit Markets to Stabilize Prices

Newell, R., Pizer, W., & Zhang, J. (2005) · Environmental & Resource Economics · doi:10.1007/s10640-005-1761-y · Cited by 141 · see citing works

Procrastinating reform: The impact of the market stability reserve on the EU ETS

Perino, G., & Willner, M. (2016) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2016.09.006 · Cited by 128 · see citing works

A Simple Auction Mechanism for the Optimal Allocation of the Commons

Montero, J. (2008) · American Economic Review · doi:10.1257/aer.98.1.496 · Cited by 120 · see citing works

Soft and hard price collars in a cap-and-trade system: A comparative analysis

Fell, H. G., Burtraw, D., Morgenstern, R. D., & Palmer, K. L. (2011) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2011.11.004 · Cited by 112 · see citing works

Optimal intensity targets for greenhouse gas emissions trading under uncertainty

Jotzo, F., & Pezzey, J. C. V. (2007) · Environmental and Resource Economics · doi:10.1007/s10640-006-9078-z · Cited by 108 · see citing works

Emissions trading systems with cap adjustments

Kollenberg, S., & Taschini, L. (2016) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2016.09.003 · Cited by 107 · see citing works

Absolute versus intensity-based emission caps

Ellerman, A. D. (2003) · Climate Policy · doi:10.1016/j.clipol.2003.09.013 · Cited by 104 · see citing works

FISHERMAN QUOTAS: A TENTATIVE SUGGESTION FOR DOMESTIC MANAGEMENT

Christy, F. (1973) · Cited by 101 · see citing works

Alternative Approaches to Cost Containment in a Cap-and-Trade System

Fell, H. G., & Morgenstern, R. D. (2010) · Environmental and Resource Economics · doi:10.1007/s10640-010-9377-2 · Cited by 94 · see citing works

Cap-and-trade properties under different hybrid scheme designs

Grüll, G., & Taschini, L. (2010) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2010.09.001 · Cited by 93 · see citing works

The Future of U.S. Carbon-Pricing Policy: Normative Assessment and Positive Prognosis

Stavins, R. N. (2019) · Environmental and Energy Policy and the Economy · doi:10.1086/706792 · Cited by 85 · see citing works

Indexed regulation

Newell, R. G., & Pizer, W. A. (2008) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2008.07.001 · Cited by 85 · see citing works

Pollution Permit Markets with Intertemporal Trading and Asymmetric Information

Yates, A. J., & Cronshaw, M. B. (2001) · Journal of Environmental Economics and Management · doi:10.1006/jeem.2000.1153 · Cited by 82 · see citing works

Economic Incentives and Global Fisheries Sustainability

Costello, C., Lynham, J. M., Lester, S. E., & Gaines, S. D. (2010) · Annual Review of Resource Economics · doi:10.1146/annurev.resource.012809.103923 · Cited by 79 · see citing works

Do renewable energy policies reduce carbon emissions? On caps and inter-industry leakage

Jarke-Neuert, J., & Perino, G. (2017) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2017.01.004 · Cited by 74 · see citing works

Regulation of Stock Externalities with Correlated Abatement Costs

Karp, L. S., & Zhang, J. (2005) · Environmental and Resource Economics · doi:10.1007/s10640-005-4678-6 · Cited by 62 · see citing works

Comparing policies to confront permit over-allocation

Fell, H. (2016) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2016.01.001 · Cited by 60 · see citing works

Prices versus Quantities with Policy Updating

Pizer, W. A., & Prest, B. (2019) · Journal of the Association of Environmental and Resource Economists · doi:10.1086/707142 · Cited by 52 · see citing works

Pollution control by options trading

Unold, W., & Requate, T. (2001) · Economics Letters · doi:10.1016/s0165-1765(01)00512-2 · Cited by 44 · see citing works

Market design in cap and trade programs: Permit validity and compliance timing

Holland, S. P., & Moore, M. R. (2013) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2013.05.004 · Cited by 41 · see citing works

The European Union Emissions Trading System Market Stability Reserve: Does It Stabilize or Destabilize the Market?

Perino, G., Willner, M., Quemin, S., & Pahle, M. (2022) · Review of Environmental Economics and Policy · doi:10.1086/721015 · Cited by 36 · see citing works

Policy Implications of Dynamic Public Finance

Golosov, M., & Tsyvinski, A. (2015) · Annual Review of Economics · doi:10.1146/annurev-economics-080614-115538 · Cited by 28 · see citing works

How to price carbon in good times … and bad!

Doda, B. (2015) · Wiley Interdisciplinary Reviews Climate Change · doi:10.1002/wcc.375 · Cited by 27 · see citing works

Information Aggregation in Emissions Markets with Abatement

Estelle Cantillon, Z., & Slechten, A. (2018) · Annals of Economics and Statistics · doi:10.15609/annaeconstat2009.132.0053 · Cited by 19 · see citing works

Prices or Quantities Can Dominate Banking and Borrowing*

Weitzman, M. L. (2019) · Scandinavian Journal of Economics · doi:10.1111/sjoe.12351 · Cited by 18 · see citing works

Overlapping Climate PoliciesPreprint

Perino, G., Ritz, R. A., & van Benthem, A. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.3998973 · Cited by 15 · see citing works

Regulating Stock ExternalitiesPreprint

Reyer Gerlagh, A., & Heijmans, R. J. R. K. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3338712 · Cited by 11 · see citing works

Dynamic regulation design without payments: The importance of timing

Boleslavsky, R., & Kelly, D. L. (2014) · Journal of Public Economics · doi:10.1016/j.jpubeco.2014.09.008 · Cited by 9 · see citing works

National Climate Policies and the European EmissionsTrading System

Silbye, F., & Sørensen, P. B. (2019) · Research at the University of Copenhagen (University of Copenhagen) · doi:10.6027/90beb9b1-en · Cited by 6 · see citing works

The Market Stability Reserve in the EU Emissions Trading System: A Critical Review

Borghesi, S., Pahle, M., Perino, G., Quemin, S., & Willner, M. (2023) · Annual Review of Resource Economics · doi:10.1146/annurev-resource-111820-030145 · Cited by 54 · see citing works

The European Union Emissions Trading System Market Stability Reserve: Does It Stabilize or Destabilize the Market?

Perino, G., Willner, M., Quemin, S., & Pahle, M. (2022) · Review of Environmental Economics and Policy · doi:10.1086/721015 · Cited by 36 · see citing works

Carbon market design and market sentiment

Perino, G. (2024) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2024.103057 · Cited by 10 · see citing works

Beyond Control: Policy Incoherence of the EU Emissions Trading System

Willner, M., & Perino, G. (2022) · Politics and Governance · doi:10.17645/pag.v10i1.4797 · Cited by 9 · see citing works

Emissions trading with clean-up certificates: How carbon debt can increase climate ambition levels

Lessmann, K., Gruner, F., Kalkuhl, M., & Edenhofer, O. (2026) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2026.103307 · Cited by 9 · see citing works

Taxes versus quantities reassessed

Karp, L. S., & Traeger, C. P. (2024) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2024.102951 · Cited by 7 · see citing works

The dynamic effects of environmental and fiscal policy shocks

Jaimes, R. (2025) · Macroeconomic Dynamics · doi:10.1017/s1365100525100424 · Cited by 3 · see citing works

Emissions Trading with Supply Adjustment Mechanisms and Market PowerPreprint

Brinker, T., Quemin, S., & Schoch, N. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5354164 · Cited by 2 · see citing works

The Impact of Uncertain Welfare Quality on Equity Market Performance

Eldomiaty, T. I., Azzam, I. A. A., Kolaly, H. E., Youssef, N., Anwar, M., & El-Shahawy, R. (2025) · International Journal of Financial Studies · doi:10.3390/ijfs13020067

Weitzman Meets Taylor: EU Allowance Price Drivers and Carbon Cap RulesPreprint

Benmir, G., Roman, J., & Taschini, L. (2026) · SSRN Electronic Journal · doi:10.2139/ssrn.6629556

Gradual Linking of Permit MarketsPreprint

Quemin, S., Abrell, J., Burtraw, D., Pahle, M., & Woerman, M. (2026) · SSRN Electronic Journal · doi:10.2139/ssrn.6813984

www.electricitypolicy.org.uk Carbon Markets and Technological Innovation

Weber, T. A., & Neuhoff, K. (2008)

An intertemporal carbon emissions trading system with cap adjustment and path control

Jiang, M., Zhu, B., Wei, Y., Chevallier, J., & He, K. (2018) · Energy Policy · doi:10.1016/j.enpol.2018.07.025 · Cited by 19 · see citing works

Carbon markets and technological innovation

Weber, T. A., & Neuhoff, K. (2010) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2010.04.004 · Cited by 184 · see citing works

Cap-and-trade under a dual-channel setting in the presence of information asymmetry

Pun, H., & Ghamat, S. (2024) · European Journal of Operational Research · doi:10.1016/j.ejor.2024.11.014 · Cited by 39 · see citing works

Pricing Strategy and Carbon Emission Abatement under Cap-and-Trade Regulation Considering Social Learning

Chen, B., & Yu, M. (2019) · Discrete Dynamics in Nature and Society · doi:10.1155/2019/9549014 · Cited by 7 · see citing works