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Price Desclosure, Marginal Abatement Cost Information and Market Power in a Bilateral GHG Emissions Trading Experiment

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Author Info

  • Hizen, Y.
  • Saijo, T.

Abstract

We conducted an experiment to examine the performance of the bilateral trading institution in GHG emissions trading. First, we found that the efficiency of bilateral trading is quite high, regardless of the disclosure or closure of contracted price and/or marginal abatement cost curve information. Second, marginal abatement costs are equalized over time. Third, on the other hand, contracted prices did not converge to the competitive price over time. Fourth, subjects who had market power did not use it.

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File URL: http://www.iser.osaka-u.ac.jp/library/dp/2000/dp0515.pdf
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Bibliographic Info

Paper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0515.

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Length: 14 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:dpr:wpaper:0515

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Related research

Keywords: TRADE ; PRICES ; COSTS ; COMPETITION;

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References

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  1. Stuart Mestelman & Andrew Muller, 1997. "What Have We Learned From Emissions Trading Experiments?," McMaster Experimental Economics Laboratory Publications, McMaster University 1997-03, McMaster University.
  2. Robert N. Stavins, 1998. "What Can We Learn from the Grand Policy Experiment? Lessons from SO2 Allowance Trading," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 69-88, Summer.
  3. Feldman, Allan M, 1973. "Bilateral Trading, Processes, Pairwise Optimality, and Pareto Optimality," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 40(4), pages 463-73, October.
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Cited by:
  1. Hizen, Y. & Saijo, T., 2000. "Designing GHG Emissions Trading Institutions in the Kyoto Protocol: an Experimental Approach," ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 0492, Institute of Social and Economic Research, Osaka University.

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