Dynamic Efficiency in Experimental Emissions Trading Markets with Investment Uncertainty

Volume: 73, Issue: 1, Pages: 1 - 31
Published: Apr 16, 2018
Abstract
This study employs a laboratory experiment to assess the performance of tradable permit markets on dynamic efficiency arising from cost-reducing investment. The permit allocation rule is the main treatment variable, with permits being fully auctioned or grandfathered. The experimental results show significant investment under both allocation rules in the presence of ex ante uncertainty over the actual investment outcome. However, auctioning...
Paper Details
Title
Dynamic Efficiency in Experimental Emissions Trading Markets with Investment Uncertainty
Published Date
Apr 16, 2018
Volume
73
Issue
1
Pages
1 - 31
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