Publications

Emissions trading with transaction costs

Working paper by Marc Baudry, Anouk Faure, Simon Quemin on 25 Jun 2020

The authors of this paper develop a theoretical model of emissions trading in the presence of transaction costs, calibrating the model to annual transactions and compliance data in the European Union emissions trading scheme over its second phase.

For want of a chair: teaching price formation using a cap and trade game

Working paper by Stefano Carattini, Eli Fenichel, Alexander Gordan, Patrick Gourley on 22 Mar 2019

This paper describes the benefits of a game created as an active learning method to teach current and future decision-makers about the ‘cap and trade’ system, one of the most innovative policy options developed by environmental economists. read more »