Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2017.04.041 |
Consignment auctions of free emissions allowances | |
Burtraw, Dallas; McCormack, Kristen | |
2017-08-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2017 |
卷号 | 107 |
文章类型 | Article |
语种 | 英语 |
国家 | USA |
英文摘要 | While the initial distribution of emissions allowances is usually thought to be independent of the emissions outcome, free allocation can affect the efficiency and fairness of allowance trading. Inefficiency may result from thin allowance markets, poor price discovery, and regulatory or organizational complexities that hinder the recognition of opportunity costs. Concerns about fairness may result from intransparency in the process of transferring substantial allowance value. We explore the role of consignment auctions in mitigating these concerns. These revenue-neutral auctions return the financial value of allowances to their original holders while revealing prices and directing allowances to their highest-valued use. They also can be used to support a minimum price when allowances are freely distributed, which may facilitate program linkage. Consignment auctions have minimal administrative costs and do not necessarily involve government. Experience indicates that they can play an important role, especially in new markets. |
英文关键词 | Climate change Clean Air Act Clean Power Plan Emissions markets Cap and trade Allocation |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000405158200031 |
WOS关键词 | TRANSACTION COSTS ; TRADING AUCTION ; MARKET ; POLLUTION ; PRICE ; EPAS ; ALLOCATION ; PROGRAMS ; LICENSES ; BEHAVIOR |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18615 |
专题 | 气候变化 |
作者单位 | Resources Future Inc, 1616 P St NW, Washington, DC 20026 USA |
推荐引用方式 GB/T 7714 | Burtraw, Dallas,McCormack, Kristen. Consignment auctions of free emissions allowances[J]. ENERGY POLICY,2017,107. |
APA | Burtraw, Dallas,&McCormack, Kristen.(2017).Consignment auctions of free emissions allowances.ENERGY POLICY,107. |
MLA | Burtraw, Dallas,et al."Consignment auctions of free emissions allowances".ENERGY POLICY 107(2017). |
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