. . . the Nebraska Carbon Sequestration Advisory Committee  

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Carbon Storage (Offsets) and Emissions Market Bibliography

A comprehensive list of  economics books and journal articles addressing emissions trading has been compiled at Colby College, Maine, USA, by Professor Tietenberg:  Regarding carbon, see Air.

A more general list representing many disciplines, as well as agency and organization reports, and books, exists at the Trexler and Associates site.

Selected Books and Articles

Most of the following address the general question of markets for emissions allowances and not the market for carbon storage, per se.  Yet, this scientific  literature is potentially related to the carbon storage marketing question in that emission allowances markets, if they evolve for carbon, could well drive the carbon storage (offsets) market, and definitely would influence it.  We highlight the sulfur emissions allowance market in that 1) the market is relatively new, and 2) outcomes to date suggest success  beyond most expectations (see U.S. Environmental Protection Agency site for overview). Perhaps we can learn from this case and apply the lessons to helping the evolution of the carbon markets, both in emissions allowances and in carbon storage.  Also, we focus in this selected list on experimental laboratory tests of market behavior and on the study of actual and operating markets rather than on hypothetical behavior (e.g., presuming that all humans are singly motivated to pursue profits) often examined in economics articles and books.

Brief summaries and annotations are available for the titles highlighted in blue.

Selected Journal Articles

Cason, T. N. "An Experimental Investigation of the Seller Incentives in EPA's Emission Trading Auction." Amer. Econ. Rev. 85,4 (Sept. 1995): 905-922.

Cason, T. N. and C.R. Plott.  "EPA's New Emissions Trading Mechanism: A Laboratory Evaluation."  J. Environ. Econ. and Mgmt.  30,2 (March 1996):  133-160.

Galeotti, M. and A. Lanza. "Title: Richer and Cleaner - A Study on Carbon-Dioxide Emissions in Developing-Countries." Energy Policy 27,10 (1999): 565-573.

Joskow, P. L., R. Schmalensee, and E. M. Bailey.  "The Market for Sulfur Dioxide Emissions."  Amer. Econ. Rev.  88,4 (September 1998):  669-685. 

Montero, J.P.  "Voluntary Compliance with Market-Based Environmental-Policy - Evidence from the US Acid-Rain Program."  J. Polit. Econ. 107,5 (1999): 998-1033.

Schmalensee, R., P.L. Joskow, A. D. Ellerman, J. P. Montero, and E. M. Bailey.  "An Interim Evaluation of  Sulfur Dioxide Emissions Trading."  J. Econ. Perspect. 12, 3 (Summer 1998): 53-68.

Walsh, M.J. "Maximizing Financial-Support for Biodiversity in the Emerging Kyoto Protocol Markets." Science of the Total Environment 248, 1-3 (1999): 145-156.

Selected Books and Other Publications

Ellerman, A. D., P. L. Joskow, R. Schmalensee, J-P Montero, and E. M. Bailey. Markets for Clean Air: The U.S. Acid Rain Program. New York: Cambridge University Press, 2000.

Hahn, R. W. The Economics and Politics of Climate Change.  Washington, D.C.:  The American Enterprise Institute Press, 1998.

Lal, R., J. M. Kimble, R. F. Follett, and C.V. Cole.  The Potential for U.S. Cropland to Sequester Carbon and Mitigate the Greenhouse Effect.  Boca Raton, Florida:  Lewis Publishers, 1999.

Shogren, J. The Benefits and Costs of the Kyoto Protocol.  Washington, D.C.: The American Enterprise Institute  Press, 1999. 

Totten, Michael.  Getting It Right:  Emerging Markets for Storing Carbon in Forests. Washington, DC: World Resources Institute, 1999.

Last update:  October, 2001