-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 …

demand shift is reflected in sales prices under alternative auction formats. Price tracking is good for uniform-price, sealed …

The direct sale of emissions 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 all auction formats … studied are efficient in allocating emissions allowances, but auction revenues tend to be lower relative to competitive …

in 2013, to be increased to 100 % by 2020. In this paper, we emphasize the importance of a properly chosen auction design … as the significantly higher auction share, compared to the past and current trading phase, is expected to yield a thin … secondary market for CO2 allowances. We elaborate main criteria that a viable auction design is supposed to fulfil and propose a …

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 …

the allowance auction pricing rule does not have a significant effect on market outcomes. …