The direct sale of emission allowances by auction is an emerging characteristic of cap-and-trade programs. This study … setting to investigate the effects of a loose cap environment on a variety of auction types. We find that all auction formats … studied are efficient in allocating emission allowances, but auction revenues tend to be lower relative to competitive …

addition, there were three particularly interesting extensions from conventional auction models that were examined. One was the …

An auction of carbon permits is the best way to achieve carbon caps set by international negotiation to limit global … tradable and bankable. The government would conduct quarterly auctions. A standard ascending-clock auction in which price is … gradually raised until there is no excess demand would provide reliable price discovery. An auction is preferred to …

outside the region, commonly called emissions leakage. In this research we model historic, auction, and updating approaches to … price increases the most with a historic or auction approach. Coal-fired generation in the RGGI region decreases under all … approaches but decreases the most under updating. Gas-fired generation decreases under historic and auction approaches but …

We investigate the cost-effectiveness and distributional effects of a revenue-raising auction, grandfathering, and a …. We solve a detailed national electricity market model and find the auction is roughly one-half the societal cost of the … performance standard yields the lowest electricity price but highest natural gas price. The auction does better than the …

It is well known that the optimal auction-one that maximizes the seller's expected revenue-can be implemented using a … standard auction format with a suitably chosen reserve price. This reserve price is above the seller's value of retaining the …