The EU proposal on the quantity restraint of the emissions trading in the Kyoto Protocol aims at reducing the so called hot air that would be generated by the purchase of emissions permits sold by a country whose actual emissions are much lower than the assigned amount. In this paper we show...

We re-evaluate two experiments by Hizen and Saijo (1999a,b) to examine the performance of bilateral trading and double auction institutiions in GHG emissions trading.

We re-evaluate two experiments by Hizen and Saijo (1999a,b) to examine the performance of bilateral trading and double auction institutiions in GHG emissions trading.

The EU proposal on the quantity restraint of the emissions trading in the Kyoto Protocol aims at reducing the so called hot air that would be generated by the purchase of emissions permits sold by a country whose actual emissions are much lower than the assigned amount. In this paper we show...