multi region input output analysis of co2 emissions embodied in trade the feedback effects energy related co2 emissions embodied in international trade have been widely studied by researchers using the environmental input output framework despite the increasing interest in using the multi regional input output mrio model by researchers few studies have looked into the mechanism of feedback effects we introduce a method called the stepwise distribution of emissions embodied in trade swd eet to reveal how the emissions embodied in trade are absorbed by a country s final demands through a series of allocation steps a country s indirect absorption patterns and its indirect trade balance of emissions from bilateral trade with other countries are also studied based on the proposed method an empirical study using the data of asian economies shows significant differences in the consumption based emission estimates for some economies due to feedback effects through international trade the differences can be largely captured by the first step or the first two steps of the adjustment procedure in the swd eet analysis other findings and some recommendations are also presented

consumption based and territory based carbon emissions intensity determinants and forecasting using club convergence across countries abstract understanding the dynamics of carbon emissions across time and space is important when formulating energy policies to minimise climate changes in the future if per capita carbon emissions or carbon intensity converge over time then any negotiation of multilateral agreements will be easier than if convergence is absent it is also possible for club convergence to exist where countries within a club converge but countries between clubs do not converge we examine the convergence of consumption based and territory based carbon emissions intensity across 70 countries we find two convergent clubs for consumption based emissions and three convergent clubs for territory based emissions increases in each of total factor productivity renewable energy consumption and urbanisation increase the odds of belonging to a low carbon emissions intensity club an increase in industry value added reduces the odds of belonging to a low carbon intensity club increases in total factor productivity can be obtained through effective macroeconomic policy while increasing renewable energy consumption may require structural changes in economies focused on transitioning to a low carbon economy under a business as usual forecasting scenario the number of consumption based carbon emissions intensity clubs increases between 2014 and 2030 making it more difficult to negotiate multilateral agreements on climate change in the future

the environment and welfare implications of trade and tax policy developing countries with comparative advantage in dirty industries face the risk of environmental degradation unless appropriate policies are implemented using applied general equilibrium analysis we examine how trade influences the environment and assess the welfare and environmental implications of alternative pollution abatement policies for indonesia our results indicate that unilateral trade liberalization by indonesia would increase the ratio of emission levels to real output for almost all major pollution categories more importantly when tariff removal is combined with a cost effective tax policy the twin objectives of welfare enhancement and environmental quality improvement appear to be feasible this sheds new and positive light on the role of trade in sustainable development

is trade good or bad for the environment sorting out the causality we seek to contribute to the debate over globalization and the environment by asking what is the effect of trade on a country s environment for a given level of gdp we take specific account of the endogeneity of trade using exogenous geographic determinants of trade as instrumental variables we find that trade tends to reduce three measures of air pollution statistical significance is high for concentrations of so2 moderate for no2 and lacking for particulate matter although results for other environmental measures are not as encouraging there is little evidence that trade has a detrimental effect on the environment

environmental kuznets curves real progress or passing the buck abstract recent research has examined the hypothesis of an environmental kuznets curve ekc the notion that environmental impact increases in the early stages of development followed by declines in the later stages these studies have focused on the relationship between per capita income and a variety of environmental indicators results imply that ekcs may exist for a number of cases however the measures of environmental impact used generally focus on production processes and reflect environmental impacts that are local in nature and for which abatement is relatively inexpensive in terms of monetary costs and or lifestyle changes significantly more consumption based measures such co2 emissions and municipal waste for which impacts are relatively easy to externalize or costly to control show no tendency to decline with increasing per capita income by considering consumption and trade patterns the author re examines the concept of the ekc and proposes the use of alternative consumption based measures of environmental impact the author speculates that what appear to be improvements in environmental quality may in reality be indicators of increased ability of consumers in wealthy nations to distance themselves from the environmental degradation associated with their consumption

how much is a dollar worth tipping versus equilibrium coexistence on competing online auction sites theory models of platform competition predict that prices and buyer seller ratios should be approximately equal on coexisting auction sites using field experiments on ebay and yahoo auctions we find evidence that is inconsistent with equilibrium hypotheses and suggest that the market is tipping prices on ebay are consistently 20 70 percent higher than those on yahoo and ebay attracts two additional buyers per seller on yahoo prices and bidders counts are unaffected by the auction ending rule various differences between the sites cannot account for the magnitude of these disparities however a model of imitation dynamics can rationalize our findings

standard auctions with financially constrained bidders we develop a methodology for analyzing the revenue and efficiency performance of auctions when buyers have private information about their willingness to pay and ability to pay we then apply the framework to scenarios involving standard auction mechanisms in the simplest case where bidders face absolute spending limits first price auctions yield higher expected revenue and social surplus than second price auctions the revenue dominance of first price auctions over secondprice auctions carries over to the case where bidders have access to credit these rankings are explained by differences in the extent to which financial constraints bind in different auction formats

the ordinal efficiency of betting markets an exploded logit approach this article offers a new perspective on efficiency in betting markets by examining the degree to which finishing order in horse races corresponds to probabilities inherent in odds across different categories of horse race the application of an exploded logit procedure reveals a significantly greater degree of ordinal efficiency in higher relative to lower class races explanations for the phenomenon include differences in prize related incentives cross market distinctions in information markets and differential opportunity incentive for market manipulation

exploring the environmental kuznets hypothesis theoretical and econometric problems focussing on the prime example of co2 emissions we discuss several important theoretical and econometric problems that arise when studying environmental kuznets curves ekcs an ekc refers to an inverse u shaped relationship between a pollutant and economic activity the dominant theoretical approach is given by integrated assessment modelling which consists of economic models that are combined with environmental impact models we critically evaluate the aggregation model dynamics and calibration aspects and their implications for the validity of the results we then turn to a discussion of several important econometric problems that go almost unnoticed in the literature the most fundamental problems relate to nonlinear transformations of nonstationary regressors and in a nonstationary panel context to neglected cross sectional dependence we discuss the implications of these two major and some minor problems that arise in the econometric analysis of kuznets curves our discussion shows that ekc modelling as performed to date is subject to major drawbacks at both the theoretical and the econometric level

consumption based carbon emissions and trade nexus evidence from nine oil exporting countries abstract the relationship between international trade and carbon emissions has been studied extensively nonetheless consumption based carbon emissions which is adjusted for international trade have not been studied this study is an attempt to address the gap by using consumption based carbon emissions which is adjusted for trade in case of oil exporting countries the effect of international trade is analyzed by treating exports and imports separately from 1990 to 2018 the long run impact of all variables i e exports imports and gross domestic product gdp is higher than the short run coefficients the empirical evidence both in the long run and short run confirms the negative effect of exports on consumption based carbon emissions furthermore gross domestic product gdp and imports have a positive and statistically significant impact on consumption based carbon emissions both in the short run and long run policies related to consumption based carbon emissions and international trade shall realize the effect of government policies to absorb it fully by taking approximately two years

commentary do bids equal values on ebay we argue that the zeithammer and adams paper zeithammer r c adams 2010 the sealed bid abstraction in online auctions marketing sci 29 6 964 987 successfully documents consistent patterns in ebay bidding data that cast doubt on the common assumption that bidders in such auctions follow a bid value strategy these anomalies lend support to the authors alternative model in which some bidders bid reactively and consequently bid below their valuation most of the time the consistency of the authors findings as well as the ability of their alternative explanation to account for all of their test results lends great support to their thesis however we think that several of their empirical tests examine ancillary assumptions about bidder behavior and do not test the bid value assumption directly furthermore although their reduced form model incorporating reactive bidders is a good first attempt at expanding the canonical framework we worry that their counterfactual pricing analysis using the reactive model is suspect because the parameters they estimate are not structural overall the zeithammer and adams paper is a carefully argued critique of empirical methods used to study online auctions and provides valuable ideas to improve on these methods

bidding behavior and decision costs in field experiments i introduction positive opportunity costs of mental effort may invalidate the predictions of traditional models of rational or hyperrational agents conlisk 1996 uses deliberation costs as a recurring theme when discussing four important reasons for incorporating bounded rationality in economic models smith and walker 1993 and smith and szidarovszky 1999 present effort models that predict individual behavior will more closely match the predictions of rational behavior theories as 1 the stakes of the decision increase and 2 the decision costs decrease smith and walker 1993 find evidence of these two effects in a comprehensive review of 31 published laboratory experiments camerer and hogarth 1999 extend smith and walker s survey by examining 74 experimental papers and find evidence in favor of the cognitive effort theory noting that higher levels of incentives have the largest effects in judgment and decision tasks p 34 although the laboratory evidence is compelling there has been little verificati on of these predictions outside the laboratory 1 the present article fills this gap by examining field data from 214 multiunit sports card auctions carried out in an active marketplace on the floor of a sports card show we auctioned four types of trading cards with book values ranging from 3 to 70 providing significant variation in the stakes of the auction our auctions also included two distinct types of subjects some auctions had sports card dealers bidding against each other whereas others had individual card collectors as the participants this variation allows us to explore the second dimension of decision cost theory do dealers who commonly participate in sports card auctions and therefore likely require less effort to bid optimally bid more rationally than nondealers our measure of rational bidding comes from multiunit auction theory which predicts strategic demand reduction in uniform price auctions 2 for each type of bidder and each type of card we measure this demand reduction behavior in the uniform price auction relative to a control the multiunit vickrey 1961 auction where bidders are predicted to fully reveal their demands our sports card data generated from sales of 428 cards with a combined book value of nearly 10 000 provide two major insights first we find that the predicted strategic behavior is considerably greater when the auctioned cards have higher values second dealers exhibit more of the predicted strategic behavior than do nondealers for both lower and higher priced cards one conjecture to explain this finding is that nondealers may find that the cognitive effort required to bid strategically exceeds the benefits especially for low valued cards by contrast dealers have more experience with auctions and make their living by buying selling trading cards so their cognitive costs are likely much lower than those of nondealers these two findings are consistent with recent theoretical models of monetary rewards and decision costs and extend previous experimental evidence from the laboratory into the field ii experimental design as mentioned recent theoretical literature has suggested that demand reduction inherent in uniform price auctions with multiunit demand can induce inefficient allocations and possible reductions in auction revenue to avoid the inefficiencies associated with the uniform price auction theorists have identified an alternative mechanism the generalized vickrey auction which gives bidders a dominant strategy of revealing their true valuations for all units of the good in this multiunit vickrey auction as in the uniform price auction each bidder can submit up to n different sealed bids on individual units and the highest n bids are declared winners if a bidder submits one or more of the winning bids his or her price for the first unit equals the highest rejected bid submitted by someone else and his or her price for the kth unit equals the kth highest of the rejected bids submitted by others

trade openness carbon emissions nexus the importance of turning points of trade openness for country panels abstract this paper explores the relationship between trade openness and co 2 emissions by incorporating economic growth as an additional and potential determinant of this relationship for three groups of 105 high middle and low income countries we apply the pedroni 1999 and westerlund 2007 panel cointegration tests and find that the three variables are cointegrated in the long run trade openness impedes environmental quality for the global high income middle and low income panels but the impact varies in these diverse groups of countries the panel vecm causality results highlight a feedback effect between trade openness and carbon emissions at the global level and the middle income countries but trade openness granger causes co 2 emissions for the high income and low income countries policy implications are also provided

consumption based accounting and the trade carbon emissions nexus abstract this paper considers a recently developed consumption based carbon emissions database from which emissions calculations are made based on the domestic use of fossil fuels plus the embodied emissions from imports minus exports to test directly for the importance of trade in national emissions comparing such consumption based emissions data to conventionally measured territory based emissions data produces several useful conclusions for example most countries are net importers of carbon emissions their consumption based emissions are higher than their territory based emissions also while low and high income countries tend to have the largest ratios of consumption based emissions to territory based emissions the majority of middle income countries have ratios greater than one as well furthermore china alone is responsible for over half the global outflows of carbon via trade the econometric estimations which were robust across income levels determined that i trade was significant for consumption based emissions but not for territory based emissions ii exports and imports offset each other so that exports lower consumption based emissions whereas imports increase them and iii the fossil fuel content of a country s energy mix is more important likely significantly so for territory based emissions than for consumption based emissions and iv domestic fossil fuel prices oil gasoline had a negative impact on territory based emissions but were insignificant for consumption based emissions hence there is a wedge between i the emissions a country is responsible for consumption based emissions and ii the emissions that a country s domestic policies affect territory based emissions so countries should have both an interest and a responsibility to help lower the carbon intensity of energy in countries that are particularly important for global carbon transfers china and india

field experiments on the effects of reserve prices in auctions more magic on the internet i present experimental evidence on the effects of minimum bids in first price sealed bid auctions the auction experiments manipulated the minimum bids in a preexisting market on the internet for collectible trading cards from the game magic the gathering i examine a number of outcomes including the number of participating bidders the probability of sale the levels of individual bids and the auctioneer s revenues the benchmark theoretical model is one with symmetric risk neutral bidders with independent private values the results verify a number of the predictions concerning equilibrium bidding many bidders behave strategically anticipating the effects of the reserve price on others bids

analysis and design of business to consumer online auctions business to consumer online auctions form an important element in the portfolio of mercantile processes that facilitate electronic commerce activity much of traditional auction theory has focused on analyzing single item auctions in isolation from the market context in which they take place we demonstrate the weakness of such approaches in online settings where a majority of auctions are multiunit in nature rather than pursuing a classical approach and assuming knowledge of the distribution of consumers valuations we emphasize the largely ignored discrete and sequential nature of such auctions we derive a general expression that characterizes the multiple equilibria that can arise in such auctions and segregate these into desirable and undesirable categories our analytical and empirical results obtained by tracking real world online auctions indicate that bid increment is an important factor amongst the control factors that online auctioneers can manipulate and control we show that consumer bidding strategies in such auctions are not uniform and that the level of bid increment chosen influences them with a motive of providing concrete strategic directions to online auctioneers we derive an absolute upper bound for the bid increment based on the theoretical upper bound we propose a heuristic decision rule for setting the bid increment empirical evidence lends support to the hypothesis that setting a bid increment higher than that suggested by the heuristic decision rule has a negative impact on the auctioneer s revenue

pennies from ebay the determinants of price in online auctions this paper presents an exploratory analysis of the determinants of prices in online auctions for collectible united states one cent coins at the ebay web site starting with an initial data set of 20 000 auctions we perform regression analysis on a restricted sample of 461 coins for which we obtained estimates of book value we have three major findings first a seller s feedback ratings reported by other ebay users have a measurable effect on her auction prices negative feedback ratings have a much greater effect than positive feedback ratings do second minimum bids and reserve prices have positive effects on the final auction price in particular minimum bids appear only to have a significant effect when they are binding on a single bidder as predicted by theory third when a seller chooses to have her auction last for a longer period of days this significantly increases the auction price on average

trade and the environment a partial synthesis there is an emerging consensus in the environmentalist community opposing free trade while some economists view this as simply another outlet for protectionism recent work has begun to move beyond the rhetoric to probe more deeply into the theoretical and empirical relationships between international trade and environmental quality the purpose of the present paper is twofold we first integrate some of the existing literature by using the simple concepts of general equilibrium pollution supply and demand our survey of the trade and environment literature is more

on the role of discrete bid levels in oral auctions abstract bids in oral auctions are restricted to discrete levels this paper both examines the choice of levels at which bids will be allowed and also presents a simple model of the role of the discrete levels in bidding strategy we consider two different distributions of bidders values identifying cases in which revenue is maximized by increasing intervals by constant intervals and by decreasing intervals moreover conditions under which the choice of bid levels that maximizes bid taker revenue also maximizes economic efficiency are developed we present a model of the economic trade off between auction duration and step size we consider the previously undiscussed issue of when economically motivated bidders should skip bid levels and when they should merely make minimum advances and develop a model in which it is equilibrium behavior always to make the minimum allowed advance

effects of minimum bid increments in internet auctions evidence from a field experiment i study the role of minimum bid increments mbi in internet auctions using natural field experiment data from a finnish online auction site huuto net internet auctions are typically viewed as secondprice implying truthful bidding however due to the presence of the mbi equilibrium bidding behavior involves bid shading i sell otherwise identical gift cards while varying the mbi and test between truthful bidding and bid shading truthful bidding is rejected consistently with equilibrium behavior bid shading increases as the mbi increases this implies that real world bidders are capable of reacting rationally even to seemingly small variations in their strategic environment this version september 17 2015 replaces the february 15 2013 version this abstract was borrowed from another version of this item

china s emissions embodied in exports how regional and trade heterogeneity matter abstract trade facilitates the shifts of emissions from one place to another although studies have shown that regionally disaggregated model and model that distinguishes processing exports at national level are necessary to estimate the embodied emissions in china s exports no study evaluates this issue by simultaneously taking both regional and trade heterogeneity into account to fill this gap we re estimate the co2 emissions embodied in china s exports at both regional and industrial level by using the newly developed inter regional input output iriop model that distinguishes processing trade from other trade at regional level results show that comparing to the iriop model the traditional multi regional input output mrio model has overestimated the environmental loss from exports by 14 25 in 2002 and 7 20 in 2012 for different regions the largest bias is found in regions and industries with the highest processing export shares therefore the iriop model gives more accurate accounting on the regional environmental loss due to national exports and thus is important for establishing effective emission mitigation policies

emissions and economic development in commodity exporting countries abstract this paper uses data for 46 commodity exporting countries between 1990 and 2014 to show that in order to get a clear picture of decoupling between emissions and economic development it is important to distinguish cycles from trends by means of time series and panel data techniques our results suggest that there is a cyclical relationship between emissions and output what we call the environmental okun s law that policymakers may fail to see strong is some countries absent in others moreover while the sample average trend or kuznets elasticity is 0 6 some countries have negative elasticities suggesting that they had managed to transition to a low carbon path finally globalization has played a relevant role and that accounting for cross border trade that is for net emission transfers from international trade matters

re exploring the trade and environment nexus through the diffusion of pollution some scholars argue that trade liberalization results in the outsourcing of pollution to pollution havens and this may explain the existence of the environmental kuznets curve ekc in industrialized countries others claim that trade liberalization effectively lessens pollution by allowing a more efficient use of resources and the diffusion of clean technologies in part because these theories generate similar predictions for industrialized countries empirical studies have not provided conclusive evidence for either argument to identify the role of trade i draw on the insights of the diffusion literature and estimate a spatial regression model where trade operates as the mechanism through which pollution shifts from country to country using the case of per capita carbon dioxide hbox co 2 emissions i find that once spatial correlation is accounted for the ekc disappears the effect is even stronger when looking at trade from developing countries only providing support for the pollution haven hypothesis i also show that the hbox co 2 trajectory of developing countries goes above the one previously followed by industrialized countries this suggests that developing countries carry on an additional carbon burden above the one that would be obtained in the absence of trade these findings contribute to the literature on the non economic effects of trade and the constraints of domestic policies when the costs of trade are low

the impact of international trade on co2 emissions in oil exporting countries territory vs consumption emissions accounting abstract while international trade and carbon dioxide co2 emissions have been well studied a panel of only oil exporting developing economies has not been considered this paper addresses that gap by investigating the role of the trade in co2 emissions using a panel of nine oil exporting countries in addition we examine the impacts of exports and imports separately and we consider two measures of co2 emissions those based on consumption and thus adjusted for trade and those based on territory i e the typical approach in the literature the results from cointegration and error correction modeling show that exports and imports have statistically significant impacts of opposite signs on consumption based co2 emissions in both the long and short run and that the effects of changes in the trade co2 emissions relationship will fully be absorbed around three years however exports and imports are statistically insignificant for territory based co2 emissions

the paper work of medicine understanding international medical costs this paper draws on international evidence on medical spending to examine what the united states can learn about making its healthcare system more efficient we focus primarily on understanding contemporaneous differences in the level of spending generally from the 2000s medical spending differs across countries either because the price of services differs for example a coronary bypass surgery operation may cost more in the united states than in other countries or because people receive more services in some countries than in others for example more bypass surgery operations within the price category there are two further issues whether factors earn different returns across countries and whether more clinical or administrative personnel are required to deliver the same care in different countries we first present the results of a decomposition of healthcare spending along these lines in the united states and in canada we then delve into each component in more detail administrative costs factor prices and the provision of care received bringing in a broader range of international evidence when possible finally we touch upon the organization of primary and chronic disease care and discuss possible gains in that area

naturally occurring markets and exogenous laboratory experiments a case study of the winner s curse we examine the relevance of experimental findings from laboratory settings that abstract from the field context of the task that theory purports to explain using common value auction theory as our guide we identify naturally occurring settings in which one can test the theory experienced agents bidding in familiar roles do not fall prey to the winner s curse yet experienced agents fall prey to the winner s curse when bidding in an unfamiliar role we conclude that the theory predicts field behaviour well when one is able to identify naturally occurring field counterparts to the key theoretical conditions

the winner s curse reserve prices and endogenous entry empirical insights from ebay auctions internet auctions have recently gained widespread popularity and are one of the most successful forms of electronic commerce we examine a unique data set of ebay coin auctions to explore the determinants of bidder and seller behavior we begin by documenting a number of empirical regularities in our data set of ebay auctions next we specify and estimate a structural econometric model of bidding on ebay using our parameter estimates from this model we measure the extent of the winner s curse and simulate seller revenue under different reserve prices