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Author: Stefan Weishaar
Publisher: Kluwer Law International B.V.
ISBN: 9041131981
Category : Law
Languages : en
Pages : 272
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Book Description
Emissions trading systems have come to the fore as the most economically efficient mechanisms that can be employed to bring about an optimal greenhouse gas reduction goal. Even though much has been written about the advantages and disadvantages of these systems, one element of crucial importance and emission allowance allocation and has not been considered in adequate depth until the present study. Such an analysis takes on increased importance as it seems likely that market-based auctioning will become the default allocation method throughout the EU under a proposed amendment to the Emissions Trading System (ETS) established by Directive 2003/87/EC. Taking a law and economics approach and that is, using a combined perspective of industrial economics and legal analysis and this important book examines the potential for anticompetitive distortion that may result from auctioning emission allowances. Among the issues investigated in depth are the following: whether the current setup of the EU ETS fosters allocative efficiency or whether this allocative efficiency is hindered by legal impediments or constraints; whether EU competition law can serve to remedy anticompetitive effects stemming from Member State actions taken pursuant to Directive 2003/87/EC; which allocation formats are most desirable from an allocative efficiency and environmental effectiveness point of view; the importance of initial allocation and adjustment of out-of-equilibrium situations under the amended ETS; whether auctioning allowances serves the attainment of market equilibrium even in the continuing presence of andpolluter havensand; the effect of the ECJands so-called andjoint application jurisprudenceand on the ETS; and the allocation of allowances from a state aid perspective. The book provides both a coherent typology of emission allowance allocation mechanisms and the main characteristics of the present emissions trading system, setting the gained insights into a broader perspective. It examines how various assignment mechanisms deal with issues such as price determination, allocative efficiency and environmental effectiveness. It considers how market-based allocation mechanisms compare with administrative allocation mechanisms, particularly those based on the widely applied grandfathering method. And perhaps most important and and of especial value to practitioners and policymakers and it identifies the auction design challenges that must be addressed by the Commission in its implementing regulation due by 30 June 2010.
Author: Stefan Weishaar
Publisher: Kluwer Law International B.V.
ISBN: 9041131981
Category : Law
Languages : en
Pages : 272
Get Book Here
Book Description
Emissions trading systems have come to the fore as the most economically efficient mechanisms that can be employed to bring about an optimal greenhouse gas reduction goal. Even though much has been written about the advantages and disadvantages of these systems, one element of crucial importance and emission allowance allocation and has not been considered in adequate depth until the present study. Such an analysis takes on increased importance as it seems likely that market-based auctioning will become the default allocation method throughout the EU under a proposed amendment to the Emissions Trading System (ETS) established by Directive 2003/87/EC. Taking a law and economics approach and that is, using a combined perspective of industrial economics and legal analysis and this important book examines the potential for anticompetitive distortion that may result from auctioning emission allowances. Among the issues investigated in depth are the following: whether the current setup of the EU ETS fosters allocative efficiency or whether this allocative efficiency is hindered by legal impediments or constraints; whether EU competition law can serve to remedy anticompetitive effects stemming from Member State actions taken pursuant to Directive 2003/87/EC; which allocation formats are most desirable from an allocative efficiency and environmental effectiveness point of view; the importance of initial allocation and adjustment of out-of-equilibrium situations under the amended ETS; whether auctioning allowances serves the attainment of market equilibrium even in the continuing presence of andpolluter havensand; the effect of the ECJands so-called andjoint application jurisprudenceand on the ETS; and the allocation of allowances from a state aid perspective. The book provides both a coherent typology of emission allowance allocation mechanisms and the main characteristics of the present emissions trading system, setting the gained insights into a broader perspective. It examines how various assignment mechanisms deal with issues such as price determination, allocative efficiency and environmental effectiveness. It considers how market-based allocation mechanisms compare with administrative allocation mechanisms, particularly those based on the widely applied grandfathering method. And perhaps most important and and of especial value to practitioners and policymakers and it identifies the auction design challenges that must be addressed by the Commission in its implementing regulation due by 30 June 2010.
Author: Charles Noussair
Publisher: John Wiley & Sons
ISBN: 1118790685
Category : Business & Economics
Languages : en
Pages : 374
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Book Description
Comprised of 10 surveys by leading scholars, this collection showcases the largest and fastest growing strands of research on market behaviour in experimental economics. Covers topics such as asset markets, contests, environmental policy, frictions, general equilibrium, labour markets, multi-unit auctions, oligopoly markets, and prediction markets Focuses on the literature that has helped economists best understand how markets operate Assesses the impact of developments in theory, policy, and research methods
Author: Michael G. Faure
Publisher: Edward Elgar Publishing
ISBN: 1848446039
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
A collection of twelve superbly written contributions by leading researchers and scientists on greenhouse gas emissions trading by members of the European Union, as well as alternatives and new developments in this specialized area of global warming and reduction related commercial exchange. . . a seminal and strongly recommended work of particular relevance and value for both academic and governmental reference library collections on international environmental studies. Midwest Book Review This timely book focuses on the EU-wide greenhouse gas emissions trading scheme for major sources. It combines legal and economic approaches and reviews the major revision of this scheme. A distinguished range of authors assess the experiences thus far and also consider future development from both theoretical and practical perspectives. They also discuss many design options, including auctioning, credit and trade, the inclusion of aviation emissions, and linking possibilities. Moreover, attention is paid to the role of legal principles, the role of case law, and to aspects of democratic accountability within an emissions trading scheme. Ways to avoid carbon leakage and the role of national climate policies are also discussed. This book makes clear that the economic efficiency and effectiveness of an emissions trading scheme depend to a large extent on the specific legislative choices, and hence the legislative design of such a scheme deserves meticulous attention. Discussing legal and economic aspects of emissions trading, this book offers new insights to academics and policy makers both in the public and private sector. Those insights are not only relevant for understanding the past, but moreover for guiding the future design of emissions trading for greenhouse gases.
Author: Paul Milgrom
Publisher: Cambridge University Press
ISBN: 1139449168
Category : Business & Economics
Languages : en
Pages : 378
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Book Description
This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
Author: John H. Kagel
Publisher: Princeton University Press
ISBN: 0691139997
Category : Business & Economics
Languages : en
Pages : 770
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Book Description
An indispensable survey of new developments and results in experimental economics When The Handbook of Experimental Economics first came out in 1995, the notion of economists conducting lab experiments to generate data was relatively new. Since then, the field has exploded. This second volume of the Handbook covers some of the most exciting new growth areas in experimental economics, presents the latest results and experimental methods, and identifies promising new directions for future research. Featuring contributions by leading practitioners, the Handbook describes experiments in macroeconomics, charitable giving, neuroeconomics, other-regarding preferences, market design, political economy, subject population effects, gender effects, auctions, and learning and the economics of small decisions. Contributors focus on key developments and report on experiments, highlighting the dialogue between experimenters and theorists. While most of the experiments consist of laboratory studies, the book also includes several chapters that report extensively on field experiments related to the subject area studied. Covers exciting new growth areas in experimental economics Features contributions by leading experts Describes experiments in macroeconomics, charitable giving, neuroeconomics, market design, political economy, gender effects, auctions, and more Highlights the dialogue by experimenters with theorists and each other Includes several chapters covering field experiments related to the subject area studied
Author: Giovanni Dosi
Publisher: Oxford University Press
ISBN: 0192689983
Category : Business & Economics
Languages : en
Pages : 753
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Book Description
The Foundations of Complex Evolving Economies seeks to offer an integrated analysis of the anatomy and physiology of the capitalist engine of generation and exploitation of technological organizational and institutional innovations - from the drivers of knowledge accumulation, to the modes in which such knowledge is incorporated into business firms, all the way to the processes of innovation-driven “Schumpeterian competition” and macroeconomic growth. In that, it advances the interpretation of such patterns, in terms of economies seen as complex evolving systems. The basic objects of analysis are the history of the emergence and development of modern capitalist economies and their current functionings. Indeed , the tall ambition of the book is to address two basic questions at the core of the whole economic discipline since its inception. They regard, first, the drivers and patterns of change of the capitalistic machine of production and innovation and, second, the mechanisms of coordination among a multitude of self-seeking economic agents often characterized by conflicting interests. In order to do that, this Manual, in addition to the nature of technology and innovation, considers from a profoundly alternative perspective, all domains of analysis typically addressed (or not) by microeconomic texts, including micro behaviours, the theory of the firm, the theory of production, consumption patterns, market dynamics, and industrial evolution.
Author: Ralph Cassady Jr.
Publisher: Univ of California Press
ISBN: 0520322258
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1967.
Author: Luigi Luini
Publisher: Springer Science & Business Media
ISBN: 1461550831
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
Uncertain Decisions: Bridging Theory and Experiments presents advanced directions of thinking on decision theory - in particular the more recent contributions on non-expected utility theory, fuzzy decision theory and case-based theory. This work also provides theoretical insights on measures of risk aversion and on new problems for general equilibrium analysis. It analyzes how the thinking that underlies the theories described above spills over into real decisions, and how the thinking that underlies these real decisions can explain the discrepancies between theoretical approaches and actual behavior. This work elaborates on how the most recent laboratory experiments have become an important source both for evaluating the leading theory of choice and decision, and for contributing to the formation of new models regarding the subject.
Author: Luiz Maurer
Publisher: World Bank Publications
ISBN: 082138824X
Category : Business & Economics
Languages : en
Pages : 181
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Book Description
Electricity-contract auctions have been getting increased attention as they have emerged as a successful mechanism to procure new generation capacity and. This book presents a comprehensive overview of international experiences in auction design and implementation.
Author: Peter C. Cramton
Publisher: MIT Press (MA)
ISBN:
Category : Business & Economics
Languages : en
Pages : 678
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Book Description
A synthesis of theoretical and practical research on combinatorial auctions from the perspectives of economics, operations research, and computer science.
