Limiting Emissions and Trade: Some Basic Ideas

I am grateful to the Human Capital Foundation(www.hcfoundation.ru), and especially Andrey P. Vavilov, for support of the Department of Economics, the Center for the Study of Auctions, Procurements, and Competition Policy (CAPCP, http://capcp.psu.edu/), and the Center for Research in International Financial and Energy Security (CRIFES, http://crifes.psu.edu/ ) at Penn State University, and to the World Bank for support on a related paper and the project as a whole.