Dannenberg, Henry; Ehrenfeld, Wilfried - Institut für Wirtschaftsforschung Halle (IWH) - 2010
Since the introduction of the European CO2 emissions trading system (EU ETS), the development of CO2 allowance prices is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from emissions trading can be considered in the stochastic profit and...