Emission Quota Trade among the Few: Laboratory Evidence of Joint Implementation among Committed Countries The Complete Version
AbstractThe 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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Bibliographic InfoPaper 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.
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Postal: Department of Economics, Stockholm, S-106 91 Stockholm, Sweden
Phone: +46 8 16 20 00
Fax: +46 8 16 14 25
Web page: http://www.ne.su.se/
More information through EDIRC
carbon emission reduction trade; joint implementation; experimental economics;
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
This paper has been announced in the following NEP Reports:
- NEP-ALL-1998-05-13 (All new papers)
- NEP-EXP-1998-05-13 (Experimental Economics)
- NEP-PUB-1998-05-13 (Public Finance)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Cason, Timothy N. & Plott, Charles R., 1996. "EPA's New Emissions Trading Mechanism: A Laboratory Evaluation," Journal of Environmental Economics and Management, Elsevier, vol. 30(2), pages 133-160, March.
- Roth, Alvin E, 1994. "Lets Keep the Con out of Experimental Econ.: A Methodological Note," Empirical Economics, Springer, vol. 19(2), pages 279-89.
- Stuart Mestelman & Andrew Muller, 1994.
"Emission Trading with Shares and Coupons : A Laboratory Experiment,"
McMaster Experimental Economics Laboratory Publications
1994-01, McMaster University.
- R. Andrew Muller & Stuart Mestelman, 1994. "Emission Trading with Shares and Coupons: A Laboratory Experiment," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 185-211.
- R. Preston McAfee & John McMillan, 1996. "Analyzing the Airwaves Auction," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 159-175, Winter.
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