Agent-based simulation and greenhouse gas emissions trading
Proceedings of the 33nd conference on Winter simulation
Electricity market simulation: multiagent system approach
Proceedings of the 2008 ACM symposium on Applied computing
Environmental Modelling & Software
Agent-human interactions in the continuous double auction
IJCAI'01 Proceedings of the 17th international joint conference on Artificial intelligence - Volume 2
Land market mechanisms for preservation of space for coastal ecosystems: An agent-based analysis
Environmental Modelling & Software
IEEE Transactions on Evolutionary Computation
Simulating animal spirits in actor-based environmental models
Environmental Modelling & Software
A multi-agent model of several economic regions
Environmental Modelling & Software
Spatial agent-based models for socio-ecological systems: Challenges and prospects
Environmental Modelling & Software
Emergence of cooperative behaviours in the management of mobile ecological resources
Environmental Modelling & Software
Environmental Modelling & Software
Platform for China Energy & Environmental Policy Analysis: A general design and its application
Environmental Modelling & Software
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Transaction costs are considered an essential factor that can adversely affect the performance of emissions trading markets. However, most studies are based on a static analyzing framework, making it difficult to simulate real economic situations, in which the dynamic behavior and interaction between firms in an emission trading system are fairly complicated and appear irrational to some extent. Based on an agent-based modeling approach, an artificial sulfur dioxide (SO"2) emission trading market is developed to identify the dynamic influence of transaction costs on market efficiency. The simulation results based on empirical data from Jiangsu Province in China reveal that transaction costs have a negligible effect on the market price. However, transaction costs can block a small amount of trading as well as decrease total emission trading amount and market efficiency. Therefore, the policy design of emission trading in China should treat transaction costs carefully.