Showing 1 - 10 of 20
Environmental markets have several institutional features that provide a new context for the use of auctions and which have not been studied previously. This paper reports on laboratory experiments testing three auction forms: uniform and discriminatory price sealed bid auctions and an ascending...
Persistent link: https://www.econbiz.de/10014214458
The direct sale of emission allowances by auction is an emerging characteristic of cap-and-trade programs. This study is motivated by the observation that all of the major implementations of cap-and-trade regulations for the control of air pollution have started with a generous allocation of...
Persistent link: https://www.econbiz.de/10009442655
We use a set of economic experiments to test the effects of some novel features of California's new controls on greenhouse gas emissions. The California cap and trade scheme imposes limits on allowance ownership, uses a tiered price containment reserve sale, and settles allowance auctions based...
Persistent link: https://www.econbiz.de/10011077023
Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common-pool resource management programs. These auctions create thick markets that can provide important information about changes in current market conditions. This paper reports a...
Persistent link: https://www.econbiz.de/10008543885
The direct sale of emission allowances by auction is an emerging characteristic of cap-and-trade programs. This study is motivated by the observation that all of the major implementations of cap-and-trade regulations for the control of air pollution have started with a generous allocation of...
Persistent link: https://www.econbiz.de/10008599549
The direct sale of emissions allowances by auction is an emerging characteristic of cap-and-trade programs. This study is motivated by the observation that all of the major implementations of cap-and-trade regulations for the control of air pollution have started with a generous allocation of...
Persistent link: https://www.econbiz.de/10008458099
Persistent link: https://www.econbiz.de/10009902834
Objective – This chapter examines the performance of the market to discover efficient equilibrium under alternative auction designs. Background – Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common-pool resource management...
Persistent link: https://www.econbiz.de/10015380097
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, whereas permits are assigned for free under grandfathering. In theory, trading in the...
Persistent link: https://www.econbiz.de/10009450315
Environmental markets have several institutional features that provide a new context for the use of auctions and which have not been studied previously. This paper reports on laboratory experiments testing three auction forms -– uniform and discriminatory price sealed bid auctions and an...
Persistent link: https://www.econbiz.de/10005442477