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| DOI | 10.1007/s10290-024-00535-7 |
| The market for carbon offsets: insights from US stock exchanges | |
| 发表日期 | 2024 |
| ISSN | 1610-2878 |
| EISSN | 1610-2886 |
| 英文摘要 | Carbon offsets are a critical factor in addressing the harmful effects of climate change. The recent growth in voluntary carbon offsets is a welcome development in a setting dominated by compliance-oriented carbon markets driven by government emissions targets. However, fragmentation, volatile pricing, and low quality offsets have been problematic indications of inefficiency in this market. We argue that the underlying economic theory for compliance-oriented markets is different from that of voluntary offsets. Coase's (1960) Problem of Social Cost lays the groundwork for the former while Akerlof's (1970) Market for Lemons underpins the latter. We propose a literature on successful responses to the lemons problem, which employ a two-sided market structure (or multi-sided platform, MSP). We suggest that the value chain in the voluntary offset market could be reconfigured using this structure, as one possible response to the lemons problem. This structure has the added advantage of driving innovation and adoption in accounting and other market standards that would be tailored to support the carbon offset market. |
| 英文关键词 | Carbon market; Emissions trading; Carbon offset; Lemons problem; Stock exchange |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics ; International Relations |
| WOS类目 | Economics ; International Relations |
| WOS记录号 | WOS:001223469800001 |
| 来源期刊 | REVIEW OF WORLD ECONOMICS
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/292948 |
| 作者单位 | Santa Clara University; California State University System; California State University Monterey Bay |
| 推荐引用方式 GB/T 7714 | . The market for carbon offsets: insights from US stock exchanges[J],2024. |
| APA | (2024).The market for carbon offsets: insights from US stock exchanges.REVIEW OF WORLD ECONOMICS. |
| MLA | "The market for carbon offsets: insights from US stock exchanges".REVIEW OF WORLD ECONOMICS (2024). |
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