Energy and Environmental Markets

The production, distribution, and consumption of energy is frequently organized via economic markets. How do these markets operate, and what are their consequences for energy producers and consumers? How do they provide incentives or disincentives for the development and deployment of new energy technologies? What are rationales for government intervention into energy markets, and why are some markets more heavily regulated than others? Finally, how might lessons from markets for energy and other goods be applied to understand emerging markets for environmental goods, such as pollution emission permits, carbon offsets, and other tradable environmental credits?