Quantal Response Equilibrium: A Stochastic Theory of Games Research Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory.
Elements of emission market design: An experimental analysis of California's market for greenhouse gas allowances Research We use a set of economic experiments to test the effects of some novel features of California’s new controls on greenhouse gas emissions. The California cap and trade scheme imposes limits on allowance ownership, uses a tiered price containment reserve sale, and settles allowance auctions based on the lowest accepted bid.