fraud

• Cara Horowitz
• July 13, 2012

Assessing California’s cap-and-trade design

How vulnerable will California’s cap-and-trade program for greenhouse gas emissions be to market manipulation, noncompliance, and fraud?  Will the program’s public auctions of allowances serve a critical regulatory purpose, or are they just a big money grab?  With about four months to go before the highly anticipated first auction, these questions are important and getting …

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