Collusion In Auctions For Emissions Permits
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Collusion In Auctions For Emissions Permits
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Author :
language : en
Publisher:
Release Date : 2009
Collusion In Auctions For Emissions Permits written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Collusion In Auctions For Emission Permits
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Author : Dallas Burtraw
language : en
Publisher:
Release Date : 2010
Collusion In Auctions For Emission Permits written by Dallas Burtraw and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Environmental markets have several institutional features that provide a new context for the use of auctions and which have not been studied previously. This paper reports on laboratory experiments testing three auction forms: uniform and discriminatory price sealed bid auctions and an ascending clock auction. We test the ability of subjects to tacitly or explicitly collude in order to maximize profits. Our main result is that the discriminatory and uniform price auctions produce greater revenues than the clock auction, both without and with explicit communication. The clock appears to be more subject to successful collusion because of its sequential structure and because it allows bidders to focus on one dimension of cooperation (quantity) rather than two (price and quantity).
Experiments On Energy The Environment And Sustainability
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Author : R. Mark Isaac
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-04-07
Experiments On Energy The Environment And Sustainability written by R. Mark Isaac and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-07 with Business & Economics categories.
Presents experimental economics research focusing on issues of environmental quality and sustainability. This title covers such topics as institutions for cap-and-trade, eco-tourism, urban sprawl, and optimal pollution control strategies.
The Making Of Experimental Economics
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Author : Andrej Svorenčík
language : en
Publisher: Springer
Release Date : 2015-11-05
The Making Of Experimental Economics written by Andrej Svorenčík and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-05 with Business & Economics categories.
This book is the transcript of a witness seminar on the history of experimental economics, in which eleven high-profile experimental economists participated, including Nobel Laureates Vernon Smith, Reinhard Selten and Alvin Roth. The witness seminar was constructed along four different topics: skills, community, laboratory, and funding. The transcript is preceded by an introduction explaining the method of the witness seminar and its specific set-up and resuming its results. The participants' contribution and their lively discussion provide a wealth of insights into the emergence of experimental economics as a field of research. This book was awarded with best book prize of the European Society for the History of Economic Thought (ESHET) in 2018.
Price Discovery In Emissions Permit Auctions
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Author : Dallas Burtraw
language : en
Publisher:
Release Date : 2014
Price Discovery In Emissions Permit Auctions written by Dallas Burtraw and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common-pool resource management programs. These auctions create thick markets that can provide important information about changes in current market conditions. This paper reports a laboratory experiment in which half of the bidders experienced unannounced increases in their willingness to pay for permits. The focus is on the extent to which the predicted price increase due to the demand shift is reflected in sales prices under alternative auction formats. Price tracking is good for uniform-price, sealed-bid auctions and for multiround clock auctions, with or without end-of-round information about excess demand. Price inertia is observed for “pay as bid” (discriminatory) auctions, especially for a continuous discriminatory format in which bids could be changed at will during a prespecified time window, in part because “sniping” in the final moments blocked the full effect of the demand shock.
Algorithmic Aspects In Information And Management
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Author : Qianping Gu
language : en
Publisher: Springer
Release Date : 2014-06-10
Algorithmic Aspects In Information And Management written by Qianping Gu and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-10 with Computers categories.
This volume constitutes the proceedings of the International Conference on Algorithmic Aspects in Information and Management, AAIM 2014, held in Vancouver, BC, Canada, in July 2014. The 30 revised full papers presented together with 2 invited talks were carefully reviewed and selected from 45 submissions. The topics cover most areas in discrete algorithms and their applications.
The Eu Emissions Trading Scheme
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Author : Sonja Butzengeiger
language : en
Publisher: Routledge
Release Date : 2018-12-07
The Eu Emissions Trading Scheme written by Sonja Butzengeiger and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-07 with Political Science categories.
This special issue of the Climate Policy journal outlines the fundamentals of the new European Emissions Trading Scheme (EU ETS), assesses the strategies for and impact of implementation and highlights the scheme's potential, including positive aspects and remaining hurdles. The EU Emission Trading Scheme (EU ETS) is the first international trading scheme for CO2 in the world. Its aim is to reduce the cost of compliance to existing targets under the Kyoto Protocol. From 1st January 2005, companies in high-energy sectors covered by the scheme must limit their CO2 emissions to allocated levels, arranged in two periods: from 2005-2007 and 2008-2012 (to match the first Kyoto commitment period). In practice, the scheme is likely to cover over 12,000 installations across the European Union, corresponding to approximately 46% of the total EU CO2 emissions. The EU ETS represents a significant development in working at an international level to combat dangerous climate change. The EU Emissions Trading Scheme presents a comprehensive and insightful analysis of the EU ETS, written by international experts in the field. The publication includes the latest research on emissions credits, the interaction of the trading scheme with national energy policies and the debate on future expansion.
Climate Change Policy Failures Why Conventional Mitigation Approaches Cannot Succeed
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Author : Howard A Latin
language : en
Publisher: World Scientific
Release Date : 2012-05-14
Climate Change Policy Failures Why Conventional Mitigation Approaches Cannot Succeed written by Howard A Latin and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-14 with Science categories.
At the recent UN Climate Change Conferences in Copenhagen, Cancun and Durban, the developed nations promised hundreds of billions of dollars in financial aid to help developing countries overcome global climate change dangers. The developed nations will need to spend many more billions to limit their own greenhouse gas pollution, the main cause of global warming and climate change. Will all this money and effort be wasted? This book argues that nearly all of the world's climate policy makers and expert advisors have been making tragic mistakes that ensure the failures of climate change mitigation attempts.The great majority of climate change programs, from American congressional bills to cap-and-trade economic incentive schemes to the Kyoto Protocol and other international treaties, rely on greenhouse gas emissions-reduction targets that will prove “too little, too late” by deferring strict pollution controls too far into the future. The inadequate emissions-reduction measures also will not be able to bridge the gap between the highest priorities of developed and developing nations. Vast discharges of greenhouse gases authorized by weak emissions-reduction programs in the next several decades virtually guarantee that the cumulative concentration of greenhouse gases in the atmosphere will keep increasing while climate change continues to grow worse.Rather than adopting ineffectual emissions-reduction programs that cannot limit the cumulative concentration of greenhouse gases in the air, this book proposes a shift to a “clean” technology-replacement strategy that could support current lifestyles and expanding economic development without further damaging our climate. The only way to reduce the greenhouse gas levels in the atmosphere enough to decrease climate change hazards is to replace large pollution sources as rapidly as feasible in as many industrial sectors and geographic regions as possible with “clean” alternative technologies, processes, and methods.
Reconsidering Carbon Permits Auction Mechanism
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Author : Mingrong Wang
language : en
Publisher:
Release Date : 2017
Reconsidering Carbon Permits Auction Mechanism written by Mingrong Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
One of major concerns for China and developing countries is the new international trade rule concerning carbon emissions, which one needs to know its suitable mechanism and the possible implication on China's carbon trading market. Precisely, in an emission-and-trade scheme, an important question is whether the auction outcome is efficient, since this is closely related with the economic costs of emissions reduction. Due to the unique features of carbon permits, existing auction mechanisms do not seem to be suitable for their distribution. Inspired by the tâtonnement process, this paper proposes a new auction mechanism for them. For both practical application and theoretical extension, the discrete and continuous situations are examined, respectively. The result shows that the proposed auction converges to Pareto optimal equilibria, and that without ties, the equilibrium is unique. For bidders, the straightforward bidding strategy is the most preferred one, in the sense that the strategy makes them avoid the risk of loss. Intuitively, the auctioneer's utility is increasing in the number of bidders, while bidders' pay-off is increasing in permits. To a certain extent, the proposed auction mechanism resolves the confliction between efficiency and revenue in the multi-item auction theory, while it increases people's understanding for carbon emission auction mechanism design.
Climate Change
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Author : John B. Stephenson
language : en
Publisher: DIANE Publishing
Release Date : 2010-08
Climate Change written by John B. Stephenson and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08 with Science categories.
Congress is considering proposals for market-based programs to limit greenhouse gas emissions. Many proposals involve creating a cap-and-trade program, in which an overall emissions cap is set and entities covered by the program must hold tradable permits -- or "allowances" -- to cover their emissions. The value of these allowances could total $300 billion annually by 2020. The Federal government could either sell the allowances, give them away for free, or some combination of the two. Some existing cap-and-trade programs have experience selling allowances. This report describes the implications of different methods for selling allowances, given available information and the experiences of selected programs.