Bohm, Peter (Dept. of Economics, Stockholm University) Carlén, Björn () (Dept. of Economics, Stockholm University)
Abstract
The purpose of the laboratory tests reported here is to identify a well-functioning design, tailored for an upcoming unique experiment using real-world relevant decision makers for carbon emission reduction trade among four countries committed to binding carbon emission limits, a form of so-called joint implementation. For reasons given in the paper, the design is required to promote high trade efficiency and a small scope for arbitrage. All designs tested reached high levels of efficiency (87-99%), which is noteworthy given the small number of traders. Attempts to adjust design to reduce or eliminate arbitrage were successful in the final test rounds.
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Publisher Info
Paper provided by Stockholm University, Department of Economics in its series Research Papers in Economics with number
1997:5.
Length: 38 pages Date of creation: 06 May 1998 Date of revision: Publication status: Published in Resource and Energy Economics, 1999, pages 43-66. Handle: RePEc:hhs:sunrpe:1997_0005
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Find related papers by JEL classification: A23 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Graduate Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
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