Luca Taschini
Centre member
Luca works mostly on the theory of market-based mechanisms, energy economics and technology change under uncertainty. His current research aims to understand both theoretically and practically the functioning and design of transferable permits systems, including questions of price containment mechanisms, market oversight, and the investigation of budget-compatible policies able to promote technology change.
Luca is based at the Grantham Research Institute on Climate Change and the Environment|, part of the London School of Economics and Political Science (LSE), where he is a Research Fellow.
He is also a visiting scholar at the Joint Program on the Science and Policy of Global Change (MIT)| and at the Research Center for Sustainability Science (Ritsumeikan University - Japan).
Background
Luca holds a PhD in finance from the University of Zurich.
Research interests
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Permits market design, price manipulation and participation restrictions;
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Experimental markets for emission permits;
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Investment decisions under uncertainty;
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Energy economics;
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Real options.
Research articles
2011
Chesney M., and Taschini, L. The endogenous price dynamics of emission allowances and an application to CO2 option pricing. Applied Mathematical Finance. Forthcoming
Moreno-Bromberg, S., and Taschini, L. May 2011. Pollution permits, strategic trading and dynamic technology adoption. Centre for Climate Change Economics and Policy, Leeds and London, UK. Download PDF of paper| (450KB)
Parsons, J.E., and Taschini, L. Stocks and shocks: a clarification in the debate over price vs. quantity controls for greenhouse gases. Working paper, March 2011. Working paper, Centre for Climate Change Economics and Policy, Leeds and London, UK. Download PDF of paper| (1.30MB)
Chesney, C., Taschini, L., and Wang, M. Regulated and non-regulated companies, technology adoption in experimental markets for emission permits, and options contracts. Working paper, March 2011. Centre for Climate Change Economics and Policy, Leeds and London, UK. Download PDF of paper| (1.74MB)
Grüll G., and Taschini, L. Cap-and-trade properties under different hybrid scheme designs.
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Published journal article: January 2011. Journal of Environmental Economics and Management, v.61, pp.107-118. External link to full article
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Working paper: September 2010. Centre for Climate Change Economics and Policy, Leeds and London, UK. Download PDF of paper (309KB)
2010
Grull G., and Taschini, L. December 2010. A comparison of reduced-form permit price models and their empirical performances. Centre for Climate Change Economics and Policy, Leeds and London, UK. Download PDF of paper| (371KB)
Taschini, L. Environmental economics and modelling marketable permits.
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Published journal article: December 2010. Asia-Pacific Financial Markets, v.17, pp.325-343. External link to full article
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Working paper: September 2010. Centre for Climate Change Economics and Policy, Leeds and London, UK. Download PDF of paper (394KB)
Taschini, L., and Urech, S. Summer 2010. The real option to fuel switch in the presence of expected windfall profits under the EU Emission Trading Scheme (ETS). Journal of Energy Markets, v.3, pp.27-47. External link to full article| (243KB)
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