An experiment on emissions trading: the effect of different allocation mechanisms
Abstract
In theory, efficiency and compliance levels induced by an emission trading system should not depend on the initial allocation mechanism for permits in the absence of transaction costs. In a laboratory experiment we investigate this prediction by comparing frequent and infrequent auctioning as well as two different grandfathering schemes under market rules that closely resemble those of the European Union Emission Trading System. Our experimental...
Paper Details
Title
An experiment on emissions trading: the effect of different allocation mechanisms
Published Date
Jun 7, 2013
Volume
44
Issue
3
Pages
308 - 338
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