What Have We Learned From Emissions Trading Experiments?
نویسندگان
چکیده
Emissions trading is a form of environmental regulation in which a regulatory body specifies the total allowable discharge of pollutants, divides this cap into individual permits assigned to individual polluters, and allows trading of the resulting permits. Laboratory experiments, in which paid subjects participate in controlled markets, can be used to test both proposals for emission trading and the theories on which they are based. This paper surveys the laboratory research that has investigated the efficiency of emission trading programs, role of alternative instruments and institutions, the effects of allowing firms to carry inventories of permits, and the extent to which market power can be exercised.
منابع مشابه
Pathophysiology of Ischemia/Reperfusion-induced Myocardial Injury: What We Have Learned From Preconditioning and Postconditioning?
Organ damage after reperfusion of previously viable ischemic tissues is defined as ischemia/reperfusion injury. The pathophysiology of ischemia/reperfusion injury involves cellular effect of ischemia, reactive oxygen species and inflammatory cascade. Protection against ischemia/reperfusion injury may be achieved by preconditioning or postconditioning. In this review, we discuss basic mechan...
متن کاملAn Experimental Analysis of Compliance in Dynamic Emissions Markets Running head: Compliance in Dynamic Emissions Markets
Two important design elements for emission trading programs are whether and to what extent firms are able to bank emissions permits, and how these programs are to be enforced. In this paper we present results from laboratory emissions markets designed to investigate enforcement and compliance when these markets allow permit banking. Banking is motivated by a decrease in the aggregate permit sup...
متن کاملAn Experimental Analysis of Compliance in Dynamic Emissions Markets
Two important design elements for emission trading programs are whether and to what extent firms are able to bank emissions permits, and how these programs are to be enforced. In this paper we present results from laboratory emissions markets designed to investigate enforcement and compliance when these markets allow permit banking. Banking is motivated by a decrease in the aggregate permit sup...
متن کاملAgent-based Simulation of Emissions Trading: Evaluation of Non-compliance Penalty and Commitment Period Reserve
The Kyoto Protocol adopted in 1997 has three flexible mechanisms in order to prevent the earth from global warming. One of them is emissions trading. Saijo and Kusakawa (2002) designed some trading systems and conducted emissions trading experiments in order to evaluate them. Such human-based experiments, however, have several basic problems. First, any single experimental result might depend o...
متن کاملLessons Learned from SO2 Allowance Trading
The most ambitious application yet undertaken of a market-based instrument for environmental protection has been for the control of sulfur dioxide (SO2) emissions in the context of acid rain reduction under Title IV of the Clean Air Act amendments of 1990. That Act established an allowance trading program to cut SO2 emissions by 10 million tons from 1980 levels—a 50% reduction. In this article,...
متن کامل