Allowance auction 1 Commerce 1 Dynamic efficiency 1 Efficiency 1 Emissions Trading 1 Grandfathering 1 Investment incentives 1 Investments 1 Laboratory experiments 1 Permit allocation 1 Pollution permits 1 Stochastic R&D 1 Stochastic systems 1 Tradable permits auction 1 efficiency measurement 1 emissions trading 1 experimental study 1 investment 1 investment incentive 1 laboratory method 1 market system 1 performance assessment 1 pollution control 1 resource allocation 1 stochasticity 1 uncertainty analysis 1