Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 10th Sept 2026, 07:06:39pm CEST (Norway)
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Daily Overview |
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Green preferences and public goods Location: Auditorium L: Ingrid Simonnæs Session Chair: Alina Sowa, University of Bonn | |
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Stuck In The Middle With You: The Impact of Intermediaries In Credit-Based Environmental Markets University of Queensland, Australia This article investigates the impact of market intermediaries in credit-based environmental markets, such as carbon credit markets. We develop a model in which firms can participate in the market either directly or via an intermediary. We focus on a market with demand uncertainty and evaluate two common forms of contracts between firms and the intermediary: a fixed-price contract and a share-price contract. Our theory predicts that introducing a dominant intermediary, under either contract type, increases both the overall supply of credits and market efficiency (despite potential market power issues). These gains arise as the intermediary contracts enable suppliers with high entry costs (but low marginal costs) to enter the market but this is at the expense of incumbent suppliers, who reduce their supply when the price falls consequentially lowering their profits. Our theoretical predictions are tested using a laboratory experiment, with the results largely consistent with theory. The results are robust over a range of parameter values that reflect varying demand and supply conditions. | |