Emissions trading has been established as an important instrument of pollution control in many wo... more Emissions trading has been established as an important instrument of pollution control in many world regions. However concerns have been raised whether or not emission-trading schemes may distort competition either on the permit market itself or on related output markets. In this paper we review tradable emission-allowance schemes with special reference to anti-competitive effects. Such distortions may be caused by large firms exercising market power on the allowance market by holding down supply or suppressing demand in order to manipulate prices to their advantage. Firms may also try to abuse the allowance market to put other firms, with whom they compete on the output market, at a competitive disadvantage. Further distortions and abuses may be caused by special or ill-defined rules on the allowance market or other markets. In this paper we survey theoretical insights on potential anti-comptitive effects of emissions trading and also provide some empirical evidence for market powe...
This article discusses German and European climate policy, inquiring mainly whether the ambitious... more This article discusses German and European climate policy, inquiring mainly whether the ambitious goals the EU has set itself can be achieved via the instruments presently employed for the purpose and whether these instruments are efficient. In particular we discuss shortcomings of the European emission trading system, we further level criticism at energy policy measures, notably subsidization for renewable energy sources and the overlap with emissions trading. Further we argue that while 20% reduction of CO
... influences collusive behavior and show that compared to the no-learning case private learning... more ... influences collusive behavior and show that compared to the no-learning case private learning has no effect on collusion whatsoever. Adding uncertainty, Habermeier (1992) shows that ... functions are identical in both periods. Since we allow for free entry, we assume that there ...
Emissions trading has been established as an important instrument of pollution control in many wo... more Emissions trading has been established as an important instrument of pollution control in many world regions. However concerns have been raised whether or not emission-trading schemes may distort competition either on the permit market itself or on related output markets. In this paper we review tradable emission-allowance schemes with special reference to anti-competitive effects. Such distortions may be caused by large firms exercising market power on the allowance market by holding down supply or suppressing demand in order to manipulate prices to their advantage. Firms may also try to abuse the allowance market to put other firms, with whom they compete on the output market, at a competitive disadvantage. Further distortions and abuses may be caused by special or ill-defined rules on the allowance market or other markets. In this paper we survey theoretical insights on potential anti-comptitive effects of emissions trading and also provide some empirical evidence for market powe...
This article discusses German and European climate policy, inquiring mainly whether the ambitious... more This article discusses German and European climate policy, inquiring mainly whether the ambitious goals the EU has set itself can be achieved via the instruments presently employed for the purpose and whether these instruments are efficient. In particular we discuss shortcomings of the European emission trading system, we further level criticism at energy policy measures, notably subsidization for renewable energy sources and the overlap with emissions trading. Further we argue that while 20% reduction of CO
... influences collusive behavior and show that compared to the no-learning case private learning... more ... influences collusive behavior and show that compared to the no-learning case private learning has no effect on collusion whatsoever. Adding uncertainty, Habermeier (1992) shows that ... functions are identical in both periods. Since we allow for free entry, we assume that there ...
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