I think I might have been the second largest purchaser of the certificates. My experience was that we didn’t attract the really high quality projects I’d want, and those we did see had very high reservation prices from the sellers, perhaps due to the endowment effect. I suspect sellers might say that they didn’t see enough buyers. Possibly we just had a chicken-and-egg problem, combined with everyone involved being kind of busy.
I think I might have been the second largest purchaser of the certificates. My experience was that we didn’t attract the really high quality projects I’d want, and those we did see had very high reservation prices from the sellers, perhaps due to the endowment effect. I suspect sellers might say that they didn’t see enough buyers. Possibly we just had a chicken-and-egg problem, combined with everyone involved being kind of busy.