Related papers: Interactions Between Multiple Environmental Market…
This study constructs a novel analytical general equilibrium model to compare environmental policies in a setting where oligopolistic energy firms engage in third-degree price discrimination across residential consumers and industrial…
To enhance decarbonization efforts in electric power systems, we propose a novel electricity market clearing model that internalizes the allocation of emissions from generations to loads and allows for consideration of consumer-side carbon…
With the rapid development of distributed energy resources, increasing number of residential and commercial users have been switched from pure electricity consumers to prosumers that can both consume and produce energy. To properly manage…
Existing emissions trading system (ETS) designs inhibit emissions but do not constrain warming to any fxed level, preventing certainty of the global path of warming. Instead, they have the indirect objective of reducing emissions. They…
The implementation of electricity markets based on locational marginal pricing in a multi-settlement process has allowed wholesale competition, with pricing mechanisms that incentivize the optimal allocation of generation, transmission, and…
We introduce a model for the evolution of emissions and the price of emissions allowances in a carbon market such as the European Union Emissions Trading System (EU ETS). The model accounts for multiple trading periods, or phases, with…
A carbon market is a market-based tool that incentivizes economic agents to align individual profits with the global utility, i.e., reducing carbon emissions to tackle climate change. Cap and trade stands as a critical principle based on…
The aim of this paper is to address the effect of the carbon emission allowance market on the production policy of a large polluter production firm. We investigate this effect in two cases; when the large polluter cannot affect the risk…
The global carbon market is fragmented and characterized by limited pricing transparency and empirical evidence, creating challenges for investors and policymakers in identifying carbon management opportunities. The European Union is among…
Carbon emissions are currently attributed to producers although a consumption-aware accounting is advocated. After constructing the Carbon Trade Network, we trace the flow of emissions over the past two decades. Our analysis reveals the…
Platform giants in China have operated with persistently compressed margins in highly concentrated markets for much of the past decade, despite market shares exceeding 60\% in core segments. Standard theory predicts otherwise: either the…
Understanding public demand for urban ecosystem services (ES) is crucial for effective green space management, yet the intricate relationships and potential trade-offs among these diverse demands remain poorly understood. Previous studies…
Secondary markets and resale are integral components of all emission trading systems. Despite the justification for these secondary trades, such as unpredictable demand, they may encourage speculation and result in the misallocation of…
In the context of increasingly complex environmental challenges, effective pollution control mechanisms are crucial. By extending the state of the art auction mechanisms, we aim to develop an efficient approach for allocating pollution…
With the onset of climate change and the increasing need for effective policies, a multilateral approach is needed to make an impact on the growing threats facing the environment. Through the use of systematic analysis by way of C-ROADS and…
Great socio-economic transitions see the demise of certain industries and the rise of others. The losers of the transition tend to deploy a variety of tactics to obstruct change. We develop a political-economy model of interest group…
While wind and solar power contribute to sustainability, their intermittent nature poses challenges when integrated into the grid. To mitigate these issues, renewable energy can be combined with coal fired power and hydropower sources to…
A multiple market trading mechanism for the VPP to participate in electricity, renewable energy certificate (REC) and carbon emission right (CER) markets is proposed. With the introduction of the inventory mechanism of REC and CER, the…
Electricity markets currently fail to incorporate preferences of buyers, treating polluting and renewable energy sources as having equal social benefit under a system of uniform clearing prices. Meanwhile, renewable energy is prone to…
The European Union Emissions Trading System (EU ETS), the world's first and largest cap-and-trade carbon market, is a cornerstone of EU climate policy. This study provides a comprehensive empirical analysis of the EU carbon market's…