-in-the-field experiments, we compare the revenue-neutral consignment auction (CA) with the free allocation (grandfathering, GF hereafter) and … uniform price auction (UPA) as an alternative permit allocation design. In our setup, firms first receive their permits for … free, and then under the two auction mechanisms, they need to buy back a share of the permits with auction revenues …

traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for … skewed towards high emitters. Furthermore, the opportunity costs of “free” permits are fully “passed through.” In the auction …

traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for … skewed towards high emitters. Furthermore, the opportunity costs of “free” permits are fully “passed through”. In the auction …

Environmental Protection Agency (EPA)'s Clean Power Plan. Auction-based approaches, like those used in the Northeast U.S. and … provides the results from a controlled laboratory experiment of an auction-based emissions market in the electricity sector …

first-price auction which do not have any minimum price. We find that winning prices of this new institution (i) coincide … with the ones of the standard first-price auction and are close to the production cost under our identical cost condition …, and (ii) are higher than the ones of the standard first-price auction and diverge from the lowest production cost under …

A human subject laboratory experiment compares the real-time market performance of the two most popular auction formats … configurations and is statistically significant in most treatments. Revenue capture tends to be similar across auction formats in …

English premium auction (EPA) for different risk attitudes of bidders. We explicitly derive the symmetric equilibrium for …