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

  • Hizen, Y.
  • Saijo, T.

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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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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  1. 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.
  2. Feldman, Allan M, 1973. "Bilateral Trading, Processes, Pairwise Optimality, and Pareto Optimality," Review of Economic Studies, Wiley Blackwell, vol. 40(4), pages 463-73, October.
  3. R. Andrew Muller & Stuart Mestelman, 1998. "What have we learned from emissions trading experiments?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 19(4-5), pages 225-238.
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