全球智库信息集成服务系统(G2TT): Testing the theory of emissions trading: Experimental evidence on alternative mechanisms for global carbon trading.

G2TT

来源类型	Article
规范类型	其他
DOI	10.1016/j.ecolecon.2004.12.017
	Testing the theory of emissions trading: Experimental evidence on alternative mechanisms for global carbon trading.
	Klaassen G; Nentjes A; Smith MG
发表日期	2005
出处	Ecological Economics 53 (1): 47-58
出版年	2005
语种	英语
摘要	Simulation models and theory prove that emission trading converges to market equilibrium. This paper sets out to test these results using experimental economics. Three experiments are conducted for the six largest carbon emitting industrialized regions. Two experiments use auctions, the first a single bid auction and the second a Walrasian auction. The third relies on bilateral, sequential trading. The paper finds that, in line with the standard theory, both auctions and bilateral, sequential trading capture a significant part (88% to 99%) of the potential cost savings of emission trading. As expected from trade theory, all experiments show that the market price converges (although not fully) to the market equilibrium price. In contrast to the theory, the results also suggest that not every country might gain from trading. In both the bilateral trading experiment and the Walrasian auction, one country actually is worse off with trade. In particular bilateral, sequential trading leads to a distribution of gains significantly different from the competitive market outcome. This is due to speculative behavior, imperfect foresight and market power.
主题	Environmentally Compatible Energy Strategies (ECS)
URL	http://pure.iiasa.ac.at/id/eprint/7532/
来源智库	International Institute for Applied Systems Analysis (Austria)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/128486
推荐引用方式 GB/T 7714	Klaassen G,Nentjes A,Smith MG. Testing the theory of emissions trading: Experimental evidence on alternative mechanisms for global carbon trading.. 2005.