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Making things the same: Gases, emission rights and the politics of carbon markets

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  • MacKenzie, Donald
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    Abstract

    This paper analyses the development of carbon markets: markets in permits to emit greenhouse gases or in credits earned by not emitting them. It describes briefly how such markets have come into being, and discusses in more detail two aspects of the efforts to 'make things the same' in carbon markets: how different gases are made commensurable, and how accountants have struggled to find a standard treatment of 'emission rights'. The paper concludes by discussing the attitude that should be taken to carbon markets (for example by environmentalists) and the possibility of developing a 'politics of market design' oriented to making such markets more effective tools of abatement.

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    File URL: http://www.sciencedirect.com/science/article/B6VCK-4S9R1VH-1/2/d5b5ce565b6e61b4dc318fd513daf6af
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    Bibliographic Info

    Article provided by Elsevier in its journal Accounting, Organizations and Society.

    Volume (Year): 34 (2009)
    Issue (Month): 3-4 (April)
    Pages: 440-455

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    Handle: RePEc:eee:aosoci:v:34:y:2009:i:3-4:p:440-455

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    Web page: http://www.elsevier.com/locate/aos

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    1. Weitzman, Martin L, 1974. "Prices vs. Quantities," Review of Economic Studies, Wiley Blackwell, vol. 41(4), pages 477-91, October.
    2. Burtraw, Dallas & Palmer, Karen & Krupnick, Alan & Evans, David & Toth, Russell, 2005. "Economics of Pollution Trading for SO2 and NOx," Discussion Papers dp-05-05, Resources For the Future.
    3. Pizer, William & Newell, Richard & Zhang, Jiangfeng, 2003. "Managing Permit Markets to Stabilize Prices," Discussion Papers dp-03-34, Resources For the Future.
    4. Loren Cass, 2005. "Norm Entrapment and Preference Change: The Evolution of the European Union Position on International Emissions Trading," Global Environmental Politics, MIT Press, vol. 5(2), pages 38-60, 05.
    5. Jørgen Wettestad, 2005. "The Making of the 2003 EU Emissions Trading Directive: An Ultra-Quick Process due to Entrepreneurial Proficiency?," Global Environmental Politics, MIT Press, vol. 5(1), pages 1-23, 02.
    6. J. H. Dales, 1968. "Land, Water, and Ownership," Canadian Journal of Economics, Canadian Economics Association, vol. 1(4), pages 791-804, November.
    7. Cameron Hepburn, 2006. "Regulation by Prices, Quantities, or Both: A Review of Instrument Choice," Oxford Review of Economic Policy, Oxford University Press, vol. 22(2), pages 226-247, Summer.
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    Cited by:
    1. Heinrich Blechinger, Philipp Friedrich & Shah, Kalim U., 2011. "A multi-criteria evaluation of policy instruments for climate change mitigation in the power generation sector of Trinidad and Tobago," Energy Policy, Elsevier, vol. 39(10), pages 6331-6343, October.
    2. Qing Pei & Lanlan Liu & David Zhang, 2013. "Carbon emission right as a new property right: rescue CDM developers in China from 2012," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 13(3), pages 307-320, September.
    3. Garud, Raghu & Gehman, Joel, 2012. "Metatheoretical perspectives on sustainability journeys: Evolutionary, relational and durational," Research Policy, Elsevier, vol. 41(6), pages 980-995.
    4. Braun, Marcel, 2009. "The evolution of emissions trading in the European Union - The role of policy networks, knowledge and policy entrepreneurs," Accounting, Organizations and Society, Elsevier, vol. 34(3-4), pages 469-487, April.
    5. Talbot, David & Boiral, Olivier, 2013. "Can we trust corporates GHG inventories? An investigation among Canada's large final emitters," Energy Policy, Elsevier, vol. 63(C), pages 1075-1085.
    6. Asdal, Kristin, 2011. "The office: The weakness of numbers and the production of non-authority," Accounting, Organizations and Society, Elsevier, vol. 36(1), pages 1-9, January.

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