An experimental investigation of the Hahn-Noll revenue neutral auction for emisions licenses

Article Abstract:

Three laboratory economics experiments testing the performance of the Hahn-Noll revenue neutral auction were conducted. The results derived from the no-rebate uniform price auction was used for baseline data. Results indicate that there is little difference in pricing scheme and market efficiency between the Hahn-Noll system and the no-rebate uniform price auction. There is a difference in distribution of gains. The hoarding effect and the margin effect are discussed in light of the findings.

Marketing, Emissions credit trading, Emissions trading

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International pollution control: cooperative versus noncooperative strategies

Article Abstract:

A simple dynamic game is used to model international pollution control between two adjacent countries, with noncooperative and cooperative governmental pollution control policies featured. Both countries are shown to lose through noncooperative behaviour when the governments only use linear policies. A differentiable subgame-perfect equilibrium can be used to support a steady-state Pareto-efficient pollution stock, however, when the governments employ nonlinear Markov-perfect policies.

Usage, International aspects, Environmental protection, Dynamical systems

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Incomplete international cooperation to reduce CO2 emissions: alternative policies

Article Abstract:

The feasibility of three approaches to mitigate the counterproductive effects of treaties that facilitate international cooperation to reduce carbon dioxide emissions are explored. The three options are a second treaty for nonsignatories, side payments to nonsignatory countries by signatory nations to induce their signingand signatory purchase of fuel deposits to reduce fuel supply. Results indicatethat the best option is the third.

Laws, regulations and rules, Carbon dioxide, International cooperation

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