In recent years, a significant problem with the carbon credit market has been the higher than initially predicted price volatility. It is essential to study the market in a repeated-period dynamic setting to identify the factors enabling high fluctuations in prices. In this paper, we examine the...

In recent years, a significant problem with the carbon credit market has been higher than initially predicted price volatility. It is essential to study the market in a repeated-period dynamic setting to identify the factors enabling high fluctuations in prices. In this paper, we examine the...

We explore the design of self-financing tax/subsidy mechanisms to solve hold-up problems in environmental regulation. Under Cournot competition, announcing the subsidy rate seems to be preferable to announcing the tax rate. Moreover, for constant marginal damage the hold-up problem can always be...

We explore the design of self-financing tax-subsidy schemes to solve hold-up problems in environmental regulation. The announcement of the tax rate seems to be preferable to solve hold-up problems with respect to the investment in environmental R&D. In contrast, only the announcement of the...

We consider the application of self-financing tax/subsidy mechanisms in environmental regulation and explore the question whether these mechanisms yield strong investment incentives in a market with many firms under Cournot competition. It turns out that the tax/subsidy mechanism with the...

We explore the design of self-financing tax/subsidy mechanisms to solve hold-up problems in environmental regulation. Under Cournot competition, announcing the subsidy rate seems to be preferable to announcing the tax rate. Moreover, for constant marginal damage the hold-up problem can always be...

Die von der Bundesregierung - jüngst im Rahmen des Energiekonzepts und der sog. Energiewende verkündeten - Zielvorgaben verdeutlichen, dass fundamentale Strukturveränderungen im Energiesystem, eine weitgehende Abkehr von kohlenstoffintensiven fossilen Energieträgern und ein mittelfristiger...

We model the occurrence of an environmental accident as a stochastic event, in particular the situation of an oil spill is explored. Characteristics of the ship operator, and the different types of the ship's operating environment determine a stochastic process governing the time patterns and...

This paper investigates the effect of credibility of environmental policies on environmental innovation and welfare. When the government precommits to an emission tax, the monopolist's abatement effort is lower than if the environmental policy is at the government's discretion. Time consistent...

This paper examines the efficiency enhancing potential of supplementing existing policies of controlling consumption pollution with environmental advertisement. Our definition of environmental advertisement includes both information dissemination and persuasion. While incentive-based regulations...