Repository logo
 
Publication

An experimental analysis of grandfathering versus dynamic auctioning in the EU ETS

2011Book part Restricted access
Simple item page
dc.contributor.authorBotelho, Anabela
dc.contributor.authorFernandes, Maria Eduarda
dc.contributor.authorPinto, Lígia
dc.date.accessioned2017-11-09T16:28:23Z
dc.date.available2017-11-09T16:28:23Z
dc.date.issued2011
dc.description.abstractPurpose – This study constitutes a first attempt to experimentally test the performance of a 100% auction versus a 100% free allocation of CO2 permits under the rules and parameters that mimic the EU ETS (imperfect competition, uncertainty in emissions' control, and allowing banking), with environmental targets more restrictive than the current ones but foreseeable for the near future. Methodology/approach – Two experimental treatments were run to achieve our goal. Both included the rules and the parameters that parallel the EU ETS structure, the only difference being the rule for the primary allocation of permits. Findings – Our experimental results indicate that the EU ETS has the potential to reduce CO2 emissions, achieving targets considerably more restrictive than the current ones at high efficiency levels, both with auctioned and free emission permits. Practical implications – Concerns about undue scarcity, and corresponding high prices, in secondary markets generated by a primary auction market are not warranted under the proposed dynamic auction format. This adds arguments favoring auctioning over grandfathering as the rule for the initial allocation of emission permits in the EU ETS. Originality/value of chapter – This study implements a theoretically appropriate auction format for the primary allocation of emission permits (the Ausubel (2004) auction) and incorporates a first attempt to include in the analysis measures of the risk preferences of subjects participating in emission permits experiments. These characteristics are for the first time implemented under a complex experimental design (including uncertainty of emission abatement, and banking), trying to parallel the EU ETS trading environment.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationBotelho, A.; Fernandes, E. & Pinto, L.C. (2011), An Experimental Analysis of Grandfathering Versus Dynamic Auctioning in the EU ETS, in R. Mark Isaac, Douglas A. Norton (ed.) Experiments on Energy, the Environment, and Sustainability (Research in Experimental Economics, Volume 14) Emerald Group Publishing Limited, pp.37 - 76pt_PT
dc.identifier.doihttp://dx.doi.org/10.1108/S0193-2306(2011)0000014005pt_PT
dc.identifier.isbn978-0-85724-747-6
dc.identifier.isbn978-0-85724-748-3
dc.identifier.issn0193-2306
dc.identifier.urihttp://hdl.handle.net/10400.8/2773
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherEmeraldpt_PT
dc.titleAn experimental analysis of grandfathering versus dynamic auctioning in the EU ETSpt_PT
dc.typebook part
dspace.entity.typePublication
oaire.citation.endPage76pt_PT
oaire.citation.startPage37pt_PT
person.familyNameFernandes
person.familyNamePinto
person.givenNameMaria Eduarda
person.givenNameLígia
person.identifier1868974
person.identifier.ciencia-idAC13-ED97-A1C0
person.identifier.ciencia-idF812-8417-BC8C
person.identifier.orcid0000-0001-6584-0412
person.identifier.orcid0000-0001-7089-2663
person.identifier.scopus-author-id57191744568
person.identifier.scopus-author-id8654280400
rcaap.rightsclosedAccesspt_PT
rcaap.typebookPartpt_PT
relation.isAuthorOfPublication4db6bf33-8fbf-43c5-b14c-75a606ad8783
relation.isAuthorOfPublicationa4123051-a000-4083-b094-a46f7d409c06
relation.isAuthorOfPublication.latestForDiscovery4db6bf33-8fbf-43c5-b14c-75a606ad8783

Files

Original bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
Edu - Experimental Economics[1].pdf
Size:
2.15 MB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.32 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

CARME - Capítulos de livros