Discussion Papers 248
An experimental evaluation
Asymmetric information and international tradable quota treaties
This paper reports an experimental test of international quota trading on a market characterised by several dominant traders. Asymmetric information regarding quota demand and supply imply true market-clearing prices which differ from an expected competitive quota price. However, in the experiment the expected price level emerges as a focal point on which the bulk of quota trade contracts are keyed. Thus, incomplete price discovery obtains.
Om publikasjonen
- Tittel
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Asymmetric information and international tradable quota treaties. An experimental evaluation
- Ansvarlig
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Morten Søberg
- Serie og -nummer
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Discussion Papers 248
- Utgiver
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Statistics Norway, Research Department
- Emne
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Discussion Papers
- Antall sider
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22
- Målform
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Engelsk
- Om Discussion Papers
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Discussion papers comprise research papers intended for international journals and books. A preprint of a Discussion Paper may be longer and more elaborate than a standard journal article as it may include intermediate calculations, background material etc.
Kontakt
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