Large-Country Effects in International Emissions Trading: A Laboratoty Test
The Experiment mimics carbon emissions trade among twelve industrialized countries during the end of a five-year-long trading period when traders are likely to have nearly full information about the underlying net demand. Trade is assumed to be governed by so-called double-auction rules. The hypotheses are i) and ii) that larger countries would not be able to influence price levels to their advantage. The findings support the first hypothesis but are inconclusive regarding the second. although they illustrate that large country may not be able to sustain favorable prices.
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|Date of creation:||03 Oct 1999|
|Publication status:||Published in The Energy Journal, 2003, pages 1-26.|
|Contact details of provider:|| Postal: Department of Economics, Stockholm, S-106 91 Stockholm, Sweden|
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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.:
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- Steven Gjerstad & John Dickhaut, 2003.
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Journal of Economic Behavior & Organization,
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- Hizen, Y. & Saijo, T., 2000. "Designing GHG Emissions Trading Institutions in the Kyoto Protocol: an Experimental Approach," ISER Discussion Paper 0492, Institute of Social and Economic Research, Osaka University.
- Robert W. Hahn, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, Oxford University Press, vol. 99(4), pages 753-765.
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