The allocation rules for phase one EU ETS emissions permits demonstrates that energy generators were lobbying winners because they successfully blocked differential treatment (rules) from energy … read more »
Opportunistic behaviour due to incomplete contract enforcement is a risk in many economic transactions, such as forest carbon sequestration contracts. In this paper, an enforcement-proof incentive … read more »
We examine the key design mechanisms of existing and proposed cap-and-trade markets. First, it is shown that the hybrid systems under investigation (price floor using a … read more »
We review fundamental concepts in environmental economics and explore theoretical results regarding the choice of the key policy instruments for the control of externalities: taxes, subsidies … read more »
There is an increasing demand for putting a shadow price on the environment to guide public policy and incentivize private behaviour. In practice, setting that price can be extremely … read more »
This paper analyses the design of carbon markets in time (i.e., intertemporally). It is part of a twin set of papers that ask, starting from first principles, what an … read more »
Designing carbon markets read more »
This paper develops a simple model to evaluate the value and the activation frequencies of a generation system consisting of coal-fired and a gas-fired power plants using a real … read more »
Abstract of Working Paper 26 We use insights derived from a critical evaluation of ecological modernisation (EM) theories to examine the origins and influence of new, market-based forms of carbon governance. Focusing on two key examples of these, namely emissions trading in Europe and the global market in offsets, we argue that EM theories can […]
Reference Bovens, L. 2010. A Lockean defence of grandfathering emission rights (forthcoming). The Ethics of Global Climate Change [Denis Arnold (ed.)]. Cambridge University Press, Cambridge.
