{"title":"Designing GHG emissions trading institutions in the Kyoto protocol: an experimental approach","authors":"Y Hizen , T Saijo","doi":"10.1016/S1364-8152(01)00023-8","DOIUrl":null,"url":null,"abstract":"<div><div><span>We re-evaluate two experiments by Hizen and Saijo, unpublished manuscript, ISER, Osaka University (1999a) and Hizen and Saijo unpublished manuscript, ISER, Osaka University (1999b) to examine the performance of bilateral trading and double auction institutions in GHG emissions trading. It is found that: (i) the efficiency of both institutions is quite high, regardless of the disclosure or closure of contracted price and/or marginal </span>abatement cost curve information; (ii) marginal abatement costs are equalized over time in both institutions; (iii) contracted prices roughly converge to the competitive price over time in a double auction, but not quite so in bilateral trading.</div></div>","PeriodicalId":310,"journal":{"name":"Environmental Modelling & Software","volume":"16 6","pages":"Pages 533-543"},"PeriodicalIF":4.6000,"publicationDate":"2001-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Environmental Modelling & Software","FirstCategoryId":"93","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1364815201000238","RegionNum":2,"RegionCategory":"环境科学与生态学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"COMPUTER SCIENCE, INTERDISCIPLINARY APPLICATIONS","Score":null,"Total":0}
引用次数: 0
Abstract
We re-evaluate two experiments by Hizen and Saijo, unpublished manuscript, ISER, Osaka University (1999a) and Hizen and Saijo unpublished manuscript, ISER, Osaka University (1999b) to examine the performance of bilateral trading and double auction institutions in GHG emissions trading. It is found that: (i) the efficiency of both institutions is quite high, regardless of the disclosure or closure of contracted price and/or marginal abatement cost curve information; (ii) marginal abatement costs are equalized over time in both institutions; (iii) contracted prices roughly converge to the competitive price over time in a double auction, but not quite so in bilateral trading.
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Environmental Modelling & Software publishes contributions, in the form of research articles, reviews and short communications, on recent advances in environmental modelling and/or software. The aim is to improve our capacity to represent, understand, predict or manage the behaviour of environmental systems at all practical scales, and to communicate those improvements to a wide scientific and professional audience.
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