气候变化领域集成服务门户(CCPortal): Emission tax vs. permit trading under bounded rationality and dynamic markets

CCPortal

DOI	10.1016/j.enpol.2020.112009
	Emission tax vs. permit trading under bounded rationality and dynamic markets
	Foramitti J.; Savin I.; van den Bergh J.C.J.M.
发表日期	2021
ISSN	03014215
卷号	148
英文摘要	A price on emissions can be achieved through an emission tax or permit trading. The advantages and drawbacks of either instrument are debated. We present an agent-based model to compare their performance under bounded rationality and dynamic markets. It describes firms that face uncertainty about future demand and prices; use heuristic rules to decide production levels, trading prices, and technology adoption; and are heterogeneous in terms of production factors, abatement costs, and trading behavior. Using multiple evaluation criteria and a wide range of parameter values, we find that the main difference between the two policies lies in the fact that permit prices fall after successful abatement. This can lead to higher production levels under permit trading, but can also drive emission-efficient firms out of the market. Scarcity rents under permit trading can further create higher profit rates for firms, the extent of which is shown to depend on the mechanisms for market-clearing and initial allocation. © 2020 Elsevier Ltd
关键词	Abatement Agent-based Modeling Carbon Tax Climate Policy Emission trading
英文关键词	Autonomous agents; Behavioral research; Commerce; Computational methods; Agent-based model; Bounded rationality; Evaluation criteria; Initial allocations; Market clearing; Production factors; Production level; Technology adoption; Costs; abatement cost; demand analysis; emissions trading; energy market; energy policy; environmental policy; pollution tax; Trachinotus falcatus
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/205094
作者单位	Institute of Environmental Science and Technology, Universitat Autònoma de Barcelona, Spain; Institute for Environmental Studies, Vrije Universiteit Amsterdam, Netherlands; Graduate School of Economics and Management, Ural Federal University, Yekaterinburg, Russian Federation; ICREA, Barcelona, Spain; School of Business and Economics, Vrije Universiteit Amsterdam, Netherlands
推荐引用方式 GB/T 7714	Foramitti J.,Savin I.,van den Bergh J.C.J.M.. Emission tax vs. permit trading under bounded rationality and dynamic markets[J],2021,148.
APA	Foramitti J.,Savin I.,&van den Bergh J.C.J.M..(2021).Emission tax vs. permit trading under bounded rationality and dynamic markets.Energy Policy,148.
MLA	Foramitti J.,et al."Emission tax vs. permit trading under bounded rationality and dynamic markets".Energy Policy 148(2021).