Strong growth in disposable income has driven, and is still driving, consumption to unprecedented,but not sustainable levels. To explain the dynamic interplay of needs, need satisfaction, andinnovation underlying that growth a behavioral theory of consumption is suggested and discussedwith...

Using a choice experiment, this paper investigates how Swedish citizens value three environmental quality objectives. In addition, a follow-up question is used to investigate whether respondents ignored any attributes when responding. The resulting information is used in the model estimation by...

In this paper we model the adjustment process of European Union Allowance(EUA) prices to the releases of announcements at high-frequency controlling forintraday periodicity, volatility clustering and volatility persistence. We ¯nd thatthe high-frequency EUA price dynamics are very well captured...

This paper examines the investment strategies of regulated companies in abatement technologies,market participants' trading behaviors, and the liquidity level in an inter-temporalcap{and{trade market using laboratory experiments. The experimental analysis is performedunder varying market...

We investigate the eect of cap-and-trade regulation of CO2 on rm prots byperforming an event study of a CO2 price crash in the EU market. We examinereturns for 90 stocks from carbon intensive industries and 600 stocks in the broadEUROSTOXX index. Firms in carbon intensive, or electricity...

The allocation or assignment of emissions allowances is among the most con-tentious elements of the design of emissions trading systems. Policy-makers usuallytry to satisfy a range of goals through the allocation process, including easing thetransition costs for high-emissions rms, reducing...

Recreation demand models typically incorporate measures of the physical attributes of recreational sites; e.g., Secchi depth or phosphorous levels in case of water quality. Moreover, most studies show that individuals do respond to these physical characteristics in choosing where to recreate....

This paper gives an overview of different methodologies related to value chain analysis in thecontext of environment and trade research. Four major fields of methodologies are identified:Accounting of input-output flows, general equilibrium models, econometrics, and globalcommodity chain...

The changeover from a situation of Autarky to a situation of Free-Trade alters the trade and production patterns of the participatingcountries which in turn affects the transportation-sector. The amountof transported goods and the directions of the good-flows change.Profit-oriented shipping...

This paper develops a general equilibrium model to measure welfare eects of taxesfor correcting environmental externalities caused by domestic trade, focusing on externalities that arise through exports. Externalities from exports come from a number ofsources. Domestically owned ships, planes,...