A network-based analysis of the European Emission Market

Andreas Karpf (), Antoine Mandel and Stefano Battiston
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Andreas Karpf: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

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Abstract: This paper analyses the European Emission Trading System (ETS) from a network perspective. It is shown that the network exhibits a strong core-periphery structure also reflected in the network formation process. Due to a lack of centralized market places, operators of installations which fall under the EU ETS regulations have to resort to local networks or financial intermediaries if they want to participate in the market. This undermines the central idea of the ETS to exploit marginal abatement costs.

Keywords: network; emission market; ETS; network topology (search for similar items in EconPapers)
Date: 2015-11
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01243694v1
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Published in 2015

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Working Paper: A network-based analysis of the European Emission Market (2015)
Working Paper: A network-based analysis of the European Emission Market (2015)
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