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Title: Auction design and the market for sulfur dioxide emissions

Title IV of the Clean Air Act Amendments of 1990 created a market for electric utility emissions of sulfur dioxide (SO{sub 2}). Recent papers have argued that flaws in the design of the auctions that are part of this market have adversely affected its performance. These papers incorrectly assume that trade can only occur at auctions, however. Our empirical analysis of the SO{sub 2} emissions market shows that the auctions have become a small part of a relatively efficient market and that the auction design problems that have attracted the most attention have had no effect on actual market prices.
Authors:
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Publication Date:
OSTI Identifier:
617883
Report Number(s):
CONF-970145--
TRN: 98:002057-0052
Resource Type:
Conference
Resource Relation:
Conference: 2. joint conference on acid rain and electric utilities, Scottsdale, AZ (United States), 20-22 Jan 1997; Other Information: PBD: 1997; Related Information: Is Part Of Acid rain & electric utilities II; PB: 1047 p.
Publisher:
Air & Waste Management Association, Pittsburgh, PA (United States)
Country of Publication:
United States
Language:
English
Subject:
20 FOSSIL-FUELED POWER PLANTS; 29 ENERGY PLANNING AND POLICY; FOSSIL-FUEL POWER PLANTS; AIR POLLUTION CONTROL; ELECTRIC UTILITIES; ACID RAIN; SULFUR DIOXIDE; US EPA; POLLUTION REGULATIONS; PRICES; TRADE; MARKET