par Cantillon, Estelle 
;Slechten, Aurelie
Editeur scientifique Lo, Irene;Ostrovsky, Michael;Pathak, Parag
Référence New Directions in Market Design, A comprehensive survey of the evolution of market design over the past three decades, University of Chicago Press, Chicago, IL, page (240)
Publication A Paraître, 2026-02
;Slechten, Aurelie Editeur scientifique Lo, Irene;Ostrovsky, Michael;Pathak, Parag
Référence New Directions in Market Design, A comprehensive survey of the evolution of market design over the past three decades, University of Chicago Press, Chicago, IL, page (240)
Publication A Paraître, 2026-02
Partie d'ouvrage collectif
| Résumé : | The main argument in favor of markets in environmental contexts is the same as in other contexts: their ability to promote efficient allocations and production. But environmental problems bring their own challenges: their underlying biophysical processes — and the technologies to monitor them — constrain what is feasible or even desirable. This chapter illustrates the main design dimensions in environmental markets, the trade-offs involved and their impact on performance, through the lens of a regulated market for pollution rights (the EU emissions trading scheme) and a voluntary market for the provision of environmental services (the global market for carbon credits). While both markets eventually contribute to climate change mitigation, their organisation as a “pollution market” for the former, and as a “provision market” for second, means that different design considerations take precedence. Both markets also face challenges: volatile prices in the EU emissions scheme and low trust for voluntary carbon markets. We discuss how alternative design options could address those. |
