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Market Power in International Carbon Emissions Trading: A Laboratory Test

Author

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  • 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.

Suggested Citation

  • Bjorn Carlen, 2003. "Market Power in International Carbon Emissions Trading: A Laboratory Test," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 1-26.
    • Handle: RePEc:aen:journl:2003v24-03-a01
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    Cited by:

    1. Anthony Heyes, 2009. "Is environmental regulation bad for competition? A survey," Journal of Regulatory Economics, Springer, vol. 36(1), pages 1-28, August.
    2. Tol, Richard S.J., 2009. "Intra-union flexibility of non-ETS emission reduction obligations in the European Union," Energy Policy, Elsevier, vol. 37(5), pages 1745-1752, May.
    3. Piciu, Gabriela Cornelia, 2012. "Aspects Regarding The Profitability Of The Negotiable Pollution Permits (Ii)," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 16(2), pages 164-173.
    4. Haar, Laura N. & Haar, Lawrence, 2006. "Policy-making under uncertainty: Commentary upon the European Union Emissions Trading Scheme," Energy Policy, Elsevier, vol. 34(17), pages 2615-2629, November.
    5. 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.
    6. Jann Lay & Rainer Thiele & Manfred Wiebelt, 2008. "Resource Booms, Inequality, And Poverty: The Case Of Gas In Bolivia," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 54(3), pages 407-437, September.

    More about this item

    JEL classification:

    • F0 - International Economics - - General

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