Article ID Journal Published Year Pages File Type
884382 Journal of Economic Behavior & Organization 2009 11 Pages PDF
Abstract

We report on the design and testing of three auction mechanisms to maximize revenue and efficiency in the sale of two vintages of nitrous oxide emission allowances by the Commonwealth of Virginia in 2004. The three mechanisms considered were a combinatorial sealed bid (CSB) auction, a sequential English clock (SEC) auction, and a combinatorial English clock (CEC) auction. We find the SEC and CEC mechanisms to be superior the CSB when demand is relatively elastic.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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