| 1. |
- Coria, Jessica, 1979, et al.
(författare)
-
The progress of GHG markets : opportunities and risks
- 2010
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The climate negotiations at the COP15 in December 2009 did not produce a new international treaty with binding emissions commitments but the Copenhagen Accord for dealing with post-2012 climate change. Given the current climate negotiation process it is unlikely that we will see a global climate agreement soon on a global cap between all Convention members participating in a single carbon market. We may be more likely to see a stepwise process moving towards this scenario, most likely involving linkages between different national policy programs when it comes to mitigation as well as offsetting emissions. In such a process countries will offer commitments based on their domestic abilities, preferences and policies, norms and institutions. National and sub-national policies are thus likely to be the de-facto building blocks of nations' abilities to make and fulfill international commitments. However, also with multilateral mitigation programs without binding commitments, carbon markets will be needed as well as international authorities that support measurement, reporting and verification rules and the international registries. Such markets will necessarily be complicated and temporary in a world without an overarching binding agreement. There will be numerous tradeoffs between different kinds of second-best arrangements. The purpose of this report is to build knowledge about the effects of the development of regional and international carbon markets and the auxiliary technology agreements that might be needed. Among the topics we address are: the evolution and integration of carbon markets, the impacts of policy and technology cost uncertainty on the cost of meeting targets through a carbon market mechanism, the effect of banking, price floors and ceilings, institutional constraints and technological change in the further development of carbon markets and their links to other environmental policy instruments, and the potential of REDD-plus to encourage sustainable forest development and climate mitigation.
|
|
| 2. |
- Felgendreher, Simon, et al.
(författare)
-
Environmental investment decisions: experimental evidence of team versus individual decision making
- 2018
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- We study experimentally how investment decisions are affected by equally stringent but different policy regime treatments and how differences depend on whether decisions are made individually or in groups. In our experiment, subjects decide on an investment level either individually or jointly in groups of three. In addition, decisions are made subject to either a tax or performance standard treatment. We find that investments are significantly higher and closer to the level that maximizes revenues of the hypothetical firm in the performance standard treatment. This holds for both individual and group decisions, but we find no evidence of an interaction effect. Even though groups seem to have a knowledge advantage, they are not able to benefit from it, since intragroup communication is not able to transmit the microeconomic reasoning to group members without such knowledge. Also, groups are not able to attenuate the attention bias of focusing on selective information depending on the specific policy treatment.
|
|
| 3. |
- Hennlock, Magnus, et al.
(författare)
-
Emissions Trading Subject to Kantian Preferences
- 2018
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- We study a cap-and-trade market equilibrium where different regions belonging to an emissions trading regime have different ambitions about the stringency of the cap. Specifically, we introduce a segment of consumers with Kantian preferences and show that they would prefer a more stringent cap compared to other regions. When a region sets up a voluntary more stringent cap within a cap-and-trade market, dual carbon markets with dual prices on allowances can emerge with trade against both caps. We then show that labelling a subset of the allowances in a cap-and-trade market captures the higher willingness to pay driven by different ambition levels among agents within a trading scheme. We show under what circumstances a socially efficient outcome from carbon markets can be achieved by labelling allowances when there are heterogeneous preferences among regions about the ambition level in an emissions trading regime. Being voluntary, trade in labelled allowances is consistent with a bottom-up approach where efforts are built up gradually by actors, countries and regions that wants to take leadership in international climate policy.
|
|
| 4. |
- Hennlock, Magnus, et al.
(författare)
-
Prices versus Standards and Firm Behavior: Evidence from an Artefactual Field Experiment
- 2017
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- We conduct an artefactual field experiment in which 164 managers and senior advisors recruited from Swedish industry were presented with a task of maximizing net revenue from abatement investments under three different but equally stringent environmental policy regimes. We find that investment decisions are strongly influenced by type of policy instrument. Economic instruments and performance standards cause different attentional and judgment biases that are inconsistent with standard economic theory. Inconsistencies are larger with economic policy instruments (tax and subsidy) than with performance standards even though subjects’ attention to cost minimization was greater with economic instruments than under performance standards.
|
|
| 5. |
|
|
| 6. |
|
|
