Hizen, Yoichi; Kusakawa, Takao; Niizawa, Hidenori; … - 2001 - [Elektronische Ressource]
This paper compares efficiencies of double auction and bilateral trading in GHG emission trading experiments with the addition of two rules, abatement irreversibility of GHG emissions and non-compliance penalty, to Hizen and Saijo (1998). Using a new concept of equilibrium, we found that (i)...