Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/92696 
Year of Publication: 
2001
Series/Report no.: 
ISER Discussion Paper No. 557
Publisher: 
Osaka University, Institute of Social and Economic Research (ISER), Osaka
Abstract: 
This paper compares efficiencies of double auction and bilateral trading in GHG emission trading experiments with the addition of two rules, abatement irreversibility of GHG emissions and non-compliance penalty, to Hizen and Saijo (1998). Using a new concept of equilibrium, we found that (i) Results were grouped into two cases. In one case, excessive reductions occurred at the early stage of the experiment and efficiency was relatively low. In the other case, excessive reduction did not occur at the early stage of experiment and efficiency was relatively high. (ii) In both cases, efficiency of double auction was higher than that of bilateral trading. (iii) Emissions trading lowered emissions reduction costs. (iv) Excessive emissions reduction occurred in almost all the sessions.
Document Type: 
Working Paper

Files in This Item:
File
Size
786.61 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.