Efficient Enforcement of Truth-Telling in the Grandfathering Process of an Emissions Trading Scheme
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Book Details
Format
Paperback / Softback
ISBN-10
3631584024
ISBN-13
9783631584026
Edition
New
Publisher
Peter Lang AG
Imprint
Peter Lang AG
Country of Manufacture
DE
Country of Publication
GB
Publication Date
Nov 10th, 2008
Print length
130 Pages
Weight
202 grams
Dimensions
17.40 x 20.90 x 0.90 cms
Ksh 5,250.00
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Emissions trading as an instrument to reduce greenhouse gases has found increasing approval over the last years. One of the challenges in putting this instrument into practice is the self-reported character of all firm data. High verification standards are therefore essential, but also costly. This analysis answers the question of how, in the grandfathering process of an emissions trading scheme, self-reported firm data can be verified in a cost-efficient way. The method used is a principal-agent model similar to those in the tax-evasion literature. Policy recommendations include specific combinations of random audits and penalties for fraudulent reporting. From a technical perspective the analysis reveals that the efficient verification of private data strongly depends on whether there are incentives to overstate or to understate the private data and that the standard equity-efficiency tradeoff does not prevail in this context.
Emissions trading as an instrument to reduce greenhouse gases has found increasing approval over the last years. One of the challenges in putting this instrument into practice is the self-reported character of all firm data. High verification standards are therefore essential, but also costly. This analysis answers the question of how, in the grandfathering process of an emissions trading scheme, self-reported firm data can be verified in a cost-efficient way. The method used is a principal-agent model similar to those in the tax-evasion literature. Policy recommendations include specific combinations of random audits and penalties for fraudulent reporting. From a technical perspective the analysis reveals that the efficient verification of private data strongly depends on whether there are incentives to overstate or to understate the private data and that the standard equity-efficiency tradeoff does not prevail in this context.
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