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Market Power in International Carbon Emissions Trading: A Laboratory Test

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Author Info
Bjorn Carlen
Abstract

The prospect that governments of one or a few large countries, or trading blocs, would engage in trading of international greenhouse gas emissions has led several policy analysts to express concerns that trade would be influenced by market power. The experiment reported here mimics a case where twelve countries, one of which is a large buyer (the mirror-image of a large seller), trade carbon emissions on an emissions exchange (a double-auction market) and where traders have quite accurate information about the underlying net demand. The findings deviate from those of the standard version of market power effects in that trade volumes and prices converge on competitive levels.

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Publisher Info
Article provided by International Association for Energy Economics in its journal The Energy Journal.

Volume (Year): 24 (2003)
Issue (Month): 3 ()
Pages: 1-26
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Handle: RePEc:aen:journl:2003v24-03-a01

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F0 - International Economics - - General

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  1. Larson, Donald F. & Ambrosi, Philippe & Dinar, Ariel & Rahman, Shaikh Mahfuzur & Entler, Rebecca, 2008. "Carbon markets, institutions, policies, and research," Policy Research Working Paper Series 4761, The World Bank. [Downloadable!]
  2. Oczkowski, Edward, 2008. "Excess Demand, Market Power and Price Adjustment in Clearinghouse Auction Markets for Water," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 38(2), pages 261-276, September. [Downloadable!]
  3. Tol, Richard S. J., 2008. "Intra-Union Flexibility of Non-ETS Emission Reduction Obligations in the European Union," Papers WP256, Economic and Social Research Institute (ESRI). [Downloadable!]
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This page was last updated on 2009-11-16.

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