Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Carbon regulation is intended to reduce global emissions, but there is growing concern that such regulation may simply shift production to unregulated regions ...

Undesirable outputs (or bads) refer to the byproducts accompanied with desirable outputs (or goods) in a production process, e.g. sulfur dioxide and carbon dioxide in coal-fired power generation. The shadow price of undesirable output, which may be interpreted as the opportunity cost of abating one additional unit of undesirable output in terms of the loss of desirable output, could provide val...

T single-product firms with different quality levels and fixed limited capacities engage in sequential price competition in an essentially deterministic model where customers have heterogeneous valuations for both products. We develop conditions under which the leader (she) can take strategic advantage of her limited capacity by pricing relatively low, purposefully creating shortages and leavin...

A commonly observed two-stage pricing strategy for a custom-made product involves a prepurchase entry fee for a potential consumer and a purchase price if he decides to buy the product. We solve and compare two settings: In the first, the firm does not commit in advance to the second-stage price and in the second, the firm does. We show that without a commitment mechanism, the two price points ...

This paper investigates factors that explain the large variability in the price of voluntary carbon offsets. We estimate hedonic price functions using a variety of providerand project-level characteristics as explanatory variables. We find that providers located in Europe sell offsets at prices that are approximately 30 percent higher than providers located in either North America or Australasi...

In this paper, we consider carbon tax and emissions trading as the national policy against the global warming problem. The attitude of the United States, whether they join the international carbon dioxide emissions trading under the Kyoto Protocol or not, will bring a large influence on the global environment and the emissions trading. Therefore, we evaluate the influence on the revenue, the pr...

We estimate CO2 implicitly contained in traded commodities based on the GTAP 7 data: While net carbon imports into the industrialized countries amount to 15% of their total emissions, net carbon exports of the developing countries amount to 12% of their total emissions, and net carbon exports of China amount to 24% of China's total emissions. We also analyze policies under a global per capita e...