Does the Varian Mechanism Work? -Emissions Trading as an Example
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Yasuyo Hamaguchi & Satoshi Mitani & Tatsuyoshi Saijo, 2003. "Does the Varian Mechanism Work?--Emissions Trading as an Example," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 2(2), pages 85-96, August.
References listed on IDEAS
- Montgomery, W. David, 1972. "Markets in licenses and efficient pollution control programs," Journal of Economic Theory, Elsevier, vol. 5(3), pages 395-418, December.
- Harrison, Glenn W, 1989.
"Theory and Misbehavior of First-Price Auctions,"
American Economic Review, American Economic Association, vol. 79(4), pages 749-762, September.
- Glenn W. Harrison, 1987. "Theory and Misbehavior of First-Price Auctions," University of Western Ontario, Departmental Research Report Series 8710, University of Western Ontario, Department of Economics.
- Daniel Kahneman & Amos Tversky, 2013.
"Prospect Theory: An Analysis of Decision Under Risk,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127,
World Scientific Publishing Co. Pte. Ltd..
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Weimann, Joachim & Yang, Chun-Lei & Vogt, Carsten, 2000. "An experiment on sequential rent-seeking," Journal of Economic Behavior & Organization, Elsevier, vol. 41(4), pages 405-426, April.
- Yan Chen & Robert Gazzale, 2004.
"When Does Learning in Games Generate Convergence to Nash Equilibria? The Role of Supermodularity in an Experimental Setting,"
American Economic Review, American Economic Association, vol. 94(5), pages 1505-1535, December.
- Yan Chen & Robert S. Gazzale, 2004. "When Does Learning in Games Generate Convergence to Nash Equilibria? The Role of Supermodularity in an Experimental Setting," Department of Economics Working Papers 2004-02, Department of Economics, Williams College.
- Varian, Hal R, 1994.
"A Solution to the Problem of Externalities When Agents Are Well-Informed,"
American Economic Review, American Economic Association, vol. 84(5), pages 1278-1293, December.
- Varian, H,R., 1991. "A Solution to the Problem of Externalities when Agents are Well-Informed," Papers 10, Michigan - Center for Research on Economic & Social Theory.
- Hal R. Varian, 1994. "A Solution to the Problem of Externalities when Agents are Well-Informed}," Microeconomics 9401003, University Library of Munich, Germany.
- Robert W. Hahn, 1984.
"Market Power and Transferable Property Rights,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(4), pages 753-765.
- Hahn, Robert W., 1982. "Market Power and Transferable Property Rights," Working Papers 402, California Institute of Technology, Division of the Humanities and Social Sciences.
- Smith, Vernon L, 1982. "Microeconomic Systems as an Experimental Science," American Economic Review, American Economic Association, vol. 72(5), pages 923-955, December.
- Misiolek, Walter S. & Elder, Harold W., 1989. "Exclusionary manipulation of markets for pollution rights," Journal of Environmental Economics and Management, Elsevier, vol. 16(2), pages 156-166, March.
- Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-1277, November.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Riccardo Ghidoni & Anna Lou Abatayo & Valentina Bosetti & Marco Casari & Massimo Tavoni, 2023.
"Governing Climate Geoengineering: Side Payments Are Not Enough,"
Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 10(5), pages 1149-1177.
- Riccardo Ghidoni & Anna Lou Abatayo & Valentina Bosetti & Marco Casari & Massimo Tavoni, 2021. "Governing climate geoengineering: Side-payments are not enough," Working Papers 461, University of Milano-Bicocca, Department of Economics, revised Feb 2021.
- Abatayo, Anna Lou & Bosetti, Valentina & Casari, Marco & Tavoni, Massimo & Ghidoni, Riccardo, 2021. "Governing Climate Geoengineering: Side-Payments Are Not Enough," RFF Working Paper Series 21-06, Resources for the Future.
- Yan Chen & Robert Gazzale, 2004.
"When Does Learning in Games Generate Convergence to Nash Equilibria? The Role of Supermodularity in an Experimental Setting,"
American Economic Review, American Economic Association, vol. 94(5), pages 1505-1535, December.
- Yan Chen & Robert S. Gazzale, 2004. "When Does Learning in Games Generate Convergence to Nash Equilibria? The Role of Supermodularity in an Experimental Setting," Department of Economics Working Papers 2004-02, Department of Economics, Williams College.
- Tatsuyoshi Saijo & Takehito Masuda & Takafumi Yamakawa, 2018. "Approval mechanism to solve prisoner’s dilemma: comparison with Varian’s compensation mechanism," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 51(1), pages 65-77, June.
- Dong, Lu & Falvey, Rod & Luckraz, Shravan, 2019.
"Fair share and social efficiency: A mechanism in which peers decide on the payoff division,"
Games and Economic Behavior, Elsevier, vol. 115(C), pages 209-224.
- Lu Dong & Rod Falvey & Shravan Luckraz, 2016. "Fair share and social effciency: a mechanism in which peers decide on the payoff division," Discussion Papers 2016-10, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Kopányi-Peuker, Anita & Offerman, Theo & Sloof, Randolph, 2017.
"Fostering cooperation through the enhancement of own vulnerability,"
Games and Economic Behavior, Elsevier, vol. 101(C), pages 273-290.
- Anita Kopanyi-Peuker & Theo Offerman & Randolph Sloof, 2012. "Fostering Cooperation through the Enhancement of Own Vulnerability," Tinbergen Institute Discussion Papers 12-132/I, Tinbergen Institute.
- Charness, Gary & Frechette, Guillaume R. & Qin, Cheng-Zhong, 2007.
"Endogenous transfers in the Prisoner's Dilemma game: An experimental test of cooperation and coordination,"
Games and Economic Behavior, Elsevier, vol. 60(2), pages 287-306, August.
- Charness, Gary B & Qin, Cheng-Zhong, 2005. "Endogenous Transfers in the Prisoner’s Dilemma Game: An Experimental Test Of Cooperation And Coordination," University of California at Santa Barbara, Economics Working Paper Series qt9cm846c4, Department of Economics, UC Santa Barbara.
- Tatsuyoshi Saijo & Takehito Masuda & Takafumi Yamakawa, "undated". "Approval Mechanism to Solve Prisoner’s Dilemma: Comparison with Varian’s Compensation Mechanism," Working Papers SDES-2016-15, Kochi University of Technology, School of Economics and Management.
- Estelle Midler & Charles Figuières & Marc Willinger, 2015.
"Choice overload, coordination and inequality: three hurdles to the effectiveness of the compensation mechanism?,"
Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 45(3), pages 513-535, October.
- Estelle Midler & Charles Figuières & Marc Willinger, 2013. "Choice overload, coordination and inequality: three hurdles to the effectiveness of the compensation mechanism?," Working Papers 13-01, LAMETA, Universtiy of Montpellier, revised Feb 2013.
- repec:dpr:wpaper:0874 is not listed on IDEAS
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Bodo Sturm & Joachim Weimann, 2006. "Experiments in Environmental Economics and Some Close Relatives," Journal of Economic Surveys, Wiley Blackwell, vol. 20(3), pages 419-457, July.
- Stavins, Robert, 2004.
"Environmental Economics,"
RFF Working Paper Series
dp-04-54, Resources for the Future.
- Robert N. Stavins, 2007. "Environmental Economics," NBER Working Papers 13574, National Bureau of Economic Research, Inc.
- Stavins, Robert, 2004. "Environmental Economics," Working Paper Series rwp04-051, Harvard University, John F. Kennedy School of Government.
- Stavins, Robert N., 2004. "Environmental Economics," Discussion Papers 10841, Resources for the Future.
- Murphy, James J. & Stranlund, John K., 2007.
"A laboratory investigation of compliance behavior under tradable emissions rights: Implications for targeted enforcement,"
Journal of Environmental Economics and Management, Elsevier, vol. 53(2), pages 196-212, March.
- Murphy, James J. & Stranlund, John K., 2005. "A Laboratory Investigation of Compliance Behavior under Tradable Emissions Rights: Implications for Targeted Enforcement," Working Paper Series 14513, University of Massachusetts, Amherst, Department of Resource Economics.
- James J. Murphy & John K. Stranlund, 2005. "A Laboratory Investigation of Compliance Behavior under Tradable Emissions Rights: Implications for Targeted Enforcement," Working Papers 2005-1, University of Massachusetts Amherst, Department of Resource Economics.
- Lewis, Tracy R. & Sappington, David E. M., 1995. "Using markets to allocate pollution permits and other scarce resource rights under limited information," Journal of Public Economics, Elsevier, vol. 57(3), pages 431-455, July.
- Pascale PHELINAS & Sonia SCHWARTZ, 2017.
"Regulating transgenic soybean production in Argentina,"
Working Papers
201721, CERDI.
- Pascale Phelinas & Sonia Schwartz, 2017. "Regulating transgenic soybean production in Argentina," Working Papers halshs-01656924, HAL.
- Pascale Phelinas & Sonia Schwartz, 2017. "Regulating transgenic soybean production in Argentina," CERDI Working papers halshs-01656924, HAL.
- Yu-Bong Lai, 2007. "The Optimal Distribution of Pollution Rights in the Presence of Political Distortions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 36(3), pages 367-388, March.
- Julien Chevallier, 2008. "Strategic Manipulation on Emissions Trading Banking Program with Fixed Horizon," Economics Bulletin, AccessEcon, vol. 17(14), pages 1-9.
- Robert W. Hahn & Robert N. Stavins, 2011.
"The Effect of Allowance Allocations on Cap-and-Trade System Performance,"
Journal of Law and Economics, University of Chicago Press, vol. 54(S4), pages 267-294.
- Robert W. Hahn & Robert N. Stavins, 2010. "The Effect of Allowance Allocations on Cap-and-Trade System Performance," NBER Working Papers 15854, National Bureau of Economic Research, Inc.
- Hahn, Robert W. & Stavins, Robert Norman, 2010. "The Effect of Allowance Allocations on Cap-and-Trade System Performance," Scholarly Articles 4449098, Harvard Kennedy School of Government.
- Robert W. Hahn & Robert N. Stavins, 2010. "The Effect of Allowance Allocations on Cap-and-Trade System Performance," Working Papers 2010.80, Fondazione Eni Enrico Mattei.
- Hahn, Robert W. & Stavins, Robert N., 2010. "The Effect of Allowance Allocations on Cap-and-Trade System Performance," Working Paper Series rwp10-010, Harvard University, John F. Kennedy School of Government.
- Hahn, Robert W. & Stavins, Robert N., 2010. "The Effect of Allowance Allocations on Cap-and-Trade System Performance," Sustainable Development Papers 92707, Fondazione Eni Enrico Mattei (FEEM).
- Dickhaut, John & Smith, Vernon & Xin, Baohua & Rustichini, Aldo, 2013. "Human economic choice as costly information processing," Journal of Economic Behavior & Organization, Elsevier, vol. 94(C), pages 206-221.
- Sonia Schwartz & Hubert Stahn, 2014.
"Competitive Permit Markets and Vertical Structures: The Relevance of Imperfectly Competitive Eco-Industries,"
Journal of Public Economic Theory, Association for Public Economic Theory, vol. 16(1), pages 69-95, February.
- Sonia Schwartz & Hubert Stahn, 2010. "Competitive Permit Markets and Vertical Structures: The Relevance of Imperfect Competitive Eco-Industries," Working Papers halshs-00501831, HAL.
- Sonia Schwartz & Hubert Stahn, 2014. "Competitive permit markets and vertical structures: the relevance of imperfectly competitive eco-industries," Post-Print halshs-00926472, HAL.
- Potters, Jan & Suetens, Sigrid, 2020.
"Optimization incentives in dilemma games with strategic complementarity,"
European Economic Review, Elsevier, vol. 127(C).
- Suetens, Sigrid & Potters, Jan, 2020. "Optimization incentives in dilemma games with strategic complementarity," CEPR Discussion Papers 14595, C.E.P.R. Discussion Papers.
- Potters, Jan & Suetens, Sigrid, 2020. "Optimization incentives in dilemma games with strategic complementarity," Other publications TiSEM e89234c8-de8f-42cc-a3dc-2, Tilburg University, School of Economics and Management.
- Tanga McDaniel & E. Rutström, 2001. "Decision Making Costs and Problem Solving Performance," Experimental Economics, Springer;Economic Science Association, vol. 4(2), pages 145-161, October.
- Dickson, Alex & MacKenzie, Ian A., 2018.
"Strategic trade in pollution permits,"
Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 94-113.
- Alex Dickson & Ian A. MacKenzie, 2016. "Strategic trade in pollution permits," Discussion Papers Series 554, School of Economics, University of Queensland, Australia.
- Alex Dickson & Ian A MacKenzie, 2016. "Strategic trade in pollution permits," Working Papers 1602, University of Strathclyde Business School, Department of Economics.
- Fullerton, Don & McDermott, Shaun P. & Caulkins, Jonathan P., 1997.
"Sulfur Dioxide Compliance of a Regulated Utility,"
Journal of Environmental Economics and Management, Elsevier, vol. 34(1), pages 32-53, September.
- Don Fullerton & Shaun P. McDermott & Jonathan P. Caulkins, 1996. "Sulfur Dioxide Compliance of a Regulated Utility," NBER Working Papers 5542, National Bureau of Economic Research, Inc.
- Damien Sans & Sonia Schwartz & Hubert Stahn, 2015.
"On Abatement Services: Market Power and Efficient Environmental Regulation,"
Working Papers
halshs-01182200, HAL.
- Damien Sans & Sonia Schwartz & Hubert Stahn, 2015. "On Abatement Services: Market Power and Efficient Environmental Regulation," AMSE Working Papers 1533, Aix-Marseille School of Economics, France.
- Bovenberg, A. Lans & Goulder, Lawrence H., 2002.
"Environmental taxation and regulation,"
Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 23, pages 1471-1545,
Elsevier.
- A. Lans Bovenberg & Lawrence H. Goulder, 2001. "Environmental Taxation and Regulation," NBER Working Papers 8458, National Bureau of Economic Research, Inc.
- Aatola, Piia, 2013. "Putting a Price on Carbon – Econometric Essays on the European Union Emissions Trading Scheme and its Impacts," Research Reports P62, VATT Institute for Economic Research.
- Olivier Rousse & Benoît Sévi, 2005. "Behavioral Heterogeneity in the US Sulfur Dioxide Emissions Allowance Trading Program," ERSA conference papers ersa05p550, European Regional Science Association.
- Murphy, James J. & Stranlund, John K., 2006.
"Direct and market effects of enforcing emissions trading programs: An experimental analysis,"
Journal of Economic Behavior & Organization, Elsevier, vol. 61(2), pages 217-233, October.
- Murphy, James J. & Stranlund, John K., 2004. "Direct And Market Effects Of Enforcing Emissions Trading Programs: An Experimental Analysis," Working Paper Series 14507, University of Massachusetts, Amherst, Department of Resource Economics.
- Makoto Tanaka, 2012. "Multi-Sector Model of Tradable Emission Permits," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 51(1), pages 61-77, January.
More about this item
JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eti:dpaper:04009. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: TANIMOTO, Toko (email available below). General contact details of provider: https://edirc.repec.org/data/rietijp.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.