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CO2 Market Design versus Market Operation

Veal, G and Mouzas, Stefanos (2013) CO2 Market Design versus Market Operation. Organization Studies, 33 (11). pp. 1589-1616. ISSN 0170-8406

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Abstract

This study highlights significant discrepancies between CO2 market design and the actual operation of CO2 markets. Our findings are based upon an empirical investigation undertaken in the context of the European Emissions Trading Scheme between January 2009 and May 2010. CO2 markets are examined from a practice based perspective in which actors are engaged in exchange, representational and normalizing practices. Discrepancies between the actual and intended CO2 market practices are explained using the concepts of framing, overflowing and regulatory capture. We argue that the design of the European Emissions Trading Scheme has been influenced in such a way that it does not actually challenge market participants to reduce their CO2 emissions. In this way, the study challenges the near universal reliance upon CO2 markets as the primary policy mechanism for mitigating climate change.

Item Type: Article
Journal or Publication Title: Organization Studies
Subjects: H Social Sciences > HF Commerce
Departments: Lancaster University Management School > Marketing
ID Code: 56019
Deposited By: ep_importer_pure
Deposited On: 13 Jul 2012 11:42
Refereed?: Yes
Published?: Published
Last Modified: 13 Jun 2014 10:20
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/56019

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