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An Experimental Study of Auctions Versus Grandfathering to Assign Pollution Permits
Goeree, Jacob K.; Holt, Charles A.; Palmer, Karen L.; … - 2014
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for free under grandfathering. In theory, trading in the spot...
Persistent link: https://www.econbiz.de/10014198001
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An Experimental Study of Auctions versus Grandfathering to Assign Pollution Permits
Goeree, Jacob K.; Holt, Charles A.; Palmer, Karen L.; … - 2013
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for free under grandfathering. In theory, trading in the spot...
Persistent link: https://www.econbiz.de/10014203589
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An Experimental Analysis of Auctioning Emissions Allowances Under a Loose Cap
Shobe, William; Palmer, Karen L.; Myers, Erica C.; … - 2014
The direct sale of emissions allowances by auction is an emerging characteristic of cap-and-trade programs. This study is motivated by the observation that all of the major implementations of cap-and-trade regulations for the control of air pollution have started with a generous allocation of...
Persistent link: https://www.econbiz.de/10014206773
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Collusion in Auctions for Emission Permits : An Experimental Analysis
Burtraw, Dallas; Goeree, Jacob K.; Holt, Charles A.; … - 2010
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...
Persistent link: https://www.econbiz.de/10014214458
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Price Discovery in Emissions Permit Auctions
Burtraw, Dallas - 2014
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...
Persistent link: https://www.econbiz.de/10013069758
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An Experimental Study of Auctions Versus Grandfathering to Assign Pollution Permits
Goeree, Jacob K.; Holt, Charles A.; Palmer, Karen; … - In: Journal of the European Economic Association 8 (2010) 2-3, pp. 514-525
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, whereas permits are assigned for free under grandfathering. In theory, trading in the...
Persistent link: https://www.econbiz.de/10008557142
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Price Discovery in Emissions Permit Auctions
Burtraw, Dallas; Goeree, Jacob K.; Holt, Charles A.; … - Center for Economic and Policy Studies (CEPS), Weldon … - 2010
Auctions are increasingly being used to allocate emissions allowances (“permitsâ€) 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...
Persistent link: https://www.econbiz.de/10008577407
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An Experimental Study of Auctions Versus Grandfathering to Assign Pollution Permits
Goeree, Jacob K.; Holt, Charles A.; Palmer, Karen; … - 2009
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for free under grandfathering. In theory, trading in the spot...
Persistent link: https://www.econbiz.de/10008458084
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An experimental study of auctions versus grandfathering to assign pollution permits
Goeree, Jacob K.; Holt, Charles A.; Palmer, Karen; … - Institut für Volkswirtschaftslehre, … - 2009
We experimentally study auctions versus grandfathering in the initial assignment of pollution permits that can be traded in a secondary spot market. Low and high emitters compete for permits in the auction, while permits are assigned for free under grandfathering. In theory, trading in the spot...
Persistent link: https://www.econbiz.de/10005015169
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Designing package markets to eliminate exposure risk
Goeree, Jacob K.; Lindsay, Luke - 2012
This paper reports results from a series of laboratory experiments designed to evaluate the impact of exposure risk on … market performance. Exposure risk arises when there are complementarities between trades, e.g. when the purchase of a new … wide variety of settings, performs poorly in a treatment with high exposure risk: overall market efficiency is only 20% and …
Persistent link: https://www.econbiz.de/10009740926