Economics, Econometrics and Finance
8 years ago

Market power in CO2 market leads to significant efficiency loss.

The Energy Journal
Market Power in a System of Tradeable CO<sub>2</sub>, Quotas
Hege Wesrskog

Paper Summary

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The article explores how market power affects the efficiency of a market for tradeable CO2 permits among countries. Some countries can influence the price of CO2 quotas, while others cannot. The study compares the market equilibrium with an ideal situation to measure the efficiency loss caused by market power.