Strategic Policy Choice in State-Level Regulation: The EPA's Clean Power Plan
研究了美国各州在EPA清洁电力计划下选择不同减排机制（速率标准或总量控制与交易）的激励，发现采用低效的速率标准可能成为占优策略，且缺乏协调会降低福利并增加排放。
The EPA's Clean Power Plan sets goals for CO 2 emissions rate reductions by 2030 that vary substantially across states. States can choose the regulatory mechanism they use and whether or not to join with other states in implementing their goals. We analyze incentives to adopt rate standards versus cap-and-trade with theory and simulation. We show conditions where adoption of inefficient rate standards is a dominant strategy from both consumers' and generators’ perspectives. Numerical simulations of the western electricity system highlight incentives for uncoordinated policies that lower welfare and increase emissions relative to coordination.