This article investigates firms’ banking and pooling behaviors in the context of the EU Emissions Trading Scheme (EU ETS) during Phase I (2005-2007). It provides an overview of the questions raised at the firm-level by the introduction and implementation of the EU trading system in terms of...

This article proposes a theory of banking of emission permits under conditions of regulatory uncertainty. Based on a two-period partial equilibrium framework, we examine the effects of increasing risk - in the sense of a mean-preserving spread - regarding a future permits allocation at the...

Using classical models of information processing and persuasion, this study examines the efficiency of European Directive 1999/94/EC, pertaining to automotive carbon emission information, as a means to encourage more sustainable consumption patterns. The Directive requires European carmakers to...

This paper mobilizes classical models of information processing and persuasion (ELM) to examine the efficiency of a European Directive 1999/94/EC of December, 13, 1999 regarding automotive carbon emission information to convert consumers to more sustainable patterns of consumption. This...