| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27260 |
| 来源ID | Working Paper 27260 |
| An Experimental Comparison of Carbon Pricing Under Uncertainty in Electricity Markets | |
| Trevor L. Davis; Mark C. Thurber; Frank A. Wolak | |
| 发表日期 | 2020-06-01 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We report on an economic experiment that compares outcomes in electricity markets subject to carbon-tax and cap-and-trade policies. Under conditions of uncertainty, price-based and quantity-based policy instruments cannot be truly equivalent, so we compared three matched carbon-tax/cap-and-trade pairs with equivalent emissions targets, mean emissions, and mean carbon prices, respectively. Across these matched pairs, the cap-and-trade mechanism produced much higher wholesale electricity prices (38.5% to 52.6% higher) and lower total electricity production (2.5% to 4.0% lower) than the “equivalent” carbon tax, without any lower carbon emissions. Market participants who forecast a lower price of carbon in the cap-and-trade games ran their units more than those who forecast a higher price of carbon, which caused emissions from the dirtiest generating units (Coal and Gas Peakers) to be significantly higher (15.2% to 33.0%) than in the carbon tax games. These merit order “mistakes” in the cap-and-trade games suggest an important advantage of the carbon tax as policy: namely, that the cost of carbon can treated by firms as a known input to production. |
| 主题 | Environmental and Resource Economics ; Energy ; Environment |
| URL | https://www.nber.org/papers/w27260 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 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/584931 |
| 推荐引用方式 GB/T 7714 | Trevor L. Davis,Mark C. Thurber,Frank A. Wolak. An Experimental Comparison of Carbon Pricing Under Uncertainty in Electricity Markets. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27260.pdf（997KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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