A Forward Backward Sdes Approach To Pricing In Carbon Markets PDF Download
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| Author | : Jean-François Chassagneux |
| Publisher | : Springer |
| Total Pages | : 108 |
| Release | : 2017-10-05 |
| Genre | : Mathematics |
| ISBN | : 3319631152 |
Download A Forward-Backward SDEs Approach to Pricing in Carbon Markets Book in PDF, ePub and Kindle
In Mathematical Finance, the authors consider a mathematical model for the pricing of emissions permits. The model has particular applicability to the European Union Emissions Trading System (EU ETS) but could also be used to consider the modeling of other cap-and-trade schemes. As a response to the risk of Climate Change, carbon markets are currently being implemented in regions worldwide and already represent more than $30 billion. However, scientific, and particularly mathematical, studies of these carbon markets are needed in order to expose their advantages and shortcomings, as well as allow their most efficient implementation. This Brief reviews mathematical properties such as the existence and uniqueness of solutions for the pricing problem, stability of solutions and their behavior. These fit into the theory of fully coupled forward-backward stochastic differential equations (FBSDEs) with irregular coefficients. The authors present a numerical algorithm to compute the solution to these non-standard FBSDEs. They also carry out a case study of the UK energy market. This involves estimating the parameters to be used in the model using historical data and then solving a pricing problem using the aforementioned numerical algorithm. The Brief is of interest to researchers in stochastic processes and their applications, and environmental and energy economics. Most sections are also accessible to practitioners in the energy sector and climate change policy-makers.
| Author | : Maciej Paszynski |
| Publisher | : Springer Nature |
| Total Pages | : 722 |
| Release | : 2021-06-09 |
| Genre | : Computers |
| ISBN | : 3030779807 |
Download Computational Science – ICCS 2021 Book in PDF, ePub and Kindle
The six-volume set LNCS 12742, 12743, 12744, 12745, 12746, and 12747 constitutes the proceedings of the 21st International Conference on Computational Science, ICCS 2021, held in Krakow, Poland, in June 2021.* The total of 260 full papers and 57 short papers presented in this book set were carefully reviewed and selected from 635 submissions. 48 full and 14 short papers were accepted to the main track from 156 submissions; 212 full and 43 short papers were accepted to the workshops/ thematic tracks from 479 submissions. The papers were organized in topical sections named: Part I: ICCS Main Track Part II: Advances in High-Performance Computational Earth Sciences: Applications and Frameworks; Applications of Computational Methods in Artificial Intelligence and Machine Learning; Artificial Intelligence and High-Performance Computing for Advanced Simulations; Biomedical and Bioinformatics Challenges for Computer Science Part III: Classifier Learning from Difficult Data; Computational Analysis of Complex Social Systems; Computational Collective Intelligence; Computational Health Part IV: Computational Methods for Emerging Problems in (dis-)Information Analysis; Computational Methods in Smart Agriculture; Computational Optimization, Modelling and Simulation; Computational Science in IoT and Smart Systems Part V: Computer Graphics, Image Processing and Artificial Intelligence; Data-Driven Computational Sciences; Machine Learning and Data Assimilation for Dynamical Systems; MeshFree Methods and Radial Basis Functions in Computational Sciences; Multiscale Modelling and Simulation Part VI: Quantum Computing Workshop; Simulations of Flow and Transport: Modeling, Algorithms and Computation; Smart Systems: Bringing Together Computer Vision, Sensor Networks and Machine Learning; Software Engineering for Computational Science; Solving Problems with Uncertainty; Teaching Computational Science; Uncertainty Quantification for Computational Models *The conference was held virtually.
| Author | : Bangzhu Zhu |
| Publisher | : Springer |
| Total Pages | : 180 |
| Release | : 2017-05-09 |
| Genre | : Business & Economics |
| ISBN | : 3319576186 |
Download Pricing and Forecasting Carbon Markets Book in PDF, ePub and Kindle
This book applies the multidisciplinary approaches of econometrics, statistics, finance and artificial intelligence for pricing and forecasting the carbon market in the context of managerial issues. It explores the related issues of pricing and forecasting the carbon market using theoretical models and empirical analyses, demonstrating how the carbon market, as a policy-based artificial market, is complex and influenced by both the market mechanisms and the external heterogeneous environments. By integrating the features of analytical systems, it offers insights to further our scientific understanding of the pricing mechanism and the variable laws governing the carbon market. Moreover, it lays a foundation for dealing with climate change in China and constructing a national carbon market there. Ultimately, it actively contributes to the energy saving and CO2 emission reduction promoted by the carbon market. The carbon market, represented by the European Union Emissions Trading System (EU ETS), is a cost-effective measure for tackling climate change. Furthermore, pricing and forecasting carbon market has been one of the research focuses in the fields of energy and climate change. As a policy tool of the trading mechanism, the carbon market offers a great institutional innovation for coping with climate change. Due to its multiple advantages including saving costs and environment protection, and political feasibility, more and more countries including China have applied the carbon market for carbon dioxide (CO2) emission reduction. Accurately understanding the pricing mechanism and mastering the fluctuating law of carbon market is essential to build a national carbon market for China.
| Author | : Hans Kaper |
| Publisher | : SIAM |
| Total Pages | : 198 |
| Release | : 2015-03-31 |
| Genre | : Science |
| ISBN | : 1611973716 |
Download Mathematics of Planet Earth Book in PDF, ePub and Kindle
Our planet faces many challenges. In 2013, an international partnership of more than 140 scientific societies, research institutes, and organizations focused its attention on these challenges. This project was called Mathematics of Planet Earth and featured English- and French-language blogs, accessible to nonmathematicians, as part of its outreach activities. This book is based on more than 100 of the 270 English-language blog posts and focuses on four major themes: A Planet to Discover; A Planet Supporting Life; A Planet Organized by Humans; A Planet at Risk.--[Source inconnue].
| Author | : M. A. H. Dempster |
| Publisher | : CRC Press |
| Total Pages | : 725 |
| Release | : 2015-11-05 |
| Genre | : Business & Economics |
| ISBN | : 1498712339 |
Download Commodities Book in PDF, ePub and Kindle
Since a major source of income for many countries comes from exporting commodities, price discovery and information transmission between commodity futures markets are key issues for continued economic development.This book covers the fundamental theory of and derivatives pricing for major commodity markets as well as the interaction between commodi
| Author | : Benjamin Stephan |
| Publisher | : Routledge |
| Total Pages | : 439 |
| Release | : 2014-08-27 |
| Genre | : Business & Economics |
| ISBN | : 1134590121 |
Download The Politics of Carbon Markets Book in PDF, ePub and Kindle
The carbon markets are in the middle of a fundamental crisis - a crisis marked by collapsing prices, fleeing actors, and ever increasing greenhouse gas levels. Yet carbon trading remains at the heart of global attempts to respond to climate change. Not only this, but markets continue to proliferate - particularly in the Global South. The Politics of Carbon Markets helps to make sense of this paradox and brings two urgently needed insights to the analysis of carbon markets. First, the markets must be understood in relation to the politics involved in their development, maintenance and opposition. Second, this politics is multiform and pervasive. Implementation of new techniques and measuring tools, policy development and contestation, and the structuring context of institutional settings and macro-social forces all involve a variety of political actors and create new forms of political agency. The contributions study the total extent of the carbon markets, from their prehistory to their contemporary expansion and wider impacts. This wide-ranging political perspective on the carbon markets is invaluable to those studying and interested in ecological markets, climate change governance and environmental politics.
| Author | : Francesco Gullì |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 253 |
| Release | : 2009-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1848445032 |
Download Markets for Carbon and Power Pricing in Europe Book in PDF, ePub and Kindle
Whether it concerns environmental economics or law and economics, two areas of science in which I feel well at home, publisher Edward Elgar is a front-runner time and again with relevant and solid publications. This time is no exception, with this book edited by Francesco Gullì. Edwin Woerdman, Tijdschrift voor Energierecht Why do power prices seem to be correlated with the carbon price in some markets and not in others? This crucial question is at the centre of Francesco Gullì s enlightening book, through which the contributing authors investigate a number of related issues. In particular, they explore why power firms are not consistent in passing-through into power prices the opportunity cost of carbon. They also examine the relationship between the pass-through mechanism and the structure of the power market. This informative study brings together and interprets original contributions by leading experts from every EU country. Beginning with an overview of the European Union Emissions Trading System (EU ETS) along with an in-depth analysis of the early results and the theoretical issues involved, the book then goes on to explore the main European power markets via a number of empirical case studies. Overall, this volume offers a genuinely comprehensive analysis on the relationship between carbon and power markets and, as such, will prove a valuable contribution to the debate on the EU ETS and to the literature on the interaction between environmental policy and the structure of environmentally regulated markets. Markets for Carbon and Power Pricing in Europe will be of great interest to researchers and academics within general economics, environmental and energy economics. It will also be warmly welcomed by policymakers, regulators and power sector operators.
| Author | : Peter Cramton |
| Publisher | : MIT Press |
| Total Pages | : 270 |
| Release | : 2017-06-16 |
| Genre | : Business & Economics |
| ISBN | : 0262340399 |
Download Global Carbon Pricing Book in PDF, ePub and Kindle
Why the traditional “pledge and review” climate agreements have failed, and how carbon pricing, based on trust and reciprocity, could succeed. After twenty-five years of failure, climate negotiations continue to use a “pledge and review” approach: countries pledge (almost anything), subject to (unenforced) review. This approach ignores everything we know about human cooperation. In this book, leading economists describe an alternate model for climate agreements, drawing on the work of the late Nobel laureate Elinor Ostrom and others. They show that a “common commitment” scheme is more effective than an “individual commitment” scheme; the latter depends on altruism while the former involves reciprocity (“we will if you will”). The contributors propose that global carbon pricing is the best candidate for a reciprocal common commitment in climate negotiations. Each country would commit to placing charges on carbon emissions sufficient to match an agreed global price formula. The contributors show that carbon pricing would facilitate negotiations and enforcement, improve efficiency and flexibility, and make other climate policies more effective. Additionally, they analyze the failings of the 2015 Paris climate conference. Contributors Richard N. Cooper, Peter Cramton, Ottmar Edenhofer, Christian Gollier, Éloi Laurent, David JC MacKay, William Nordhaus, Axel Ockenfels, Joseph E. Stiglitz, Steven Stoft, Jean Tirole, Martin L. Weitzman
| Author | : Andrei Marcu |
| Publisher | : |
| Total Pages | : 29 |
| Release | : 2015 |
| Genre | : Carbon offsetting |
| ISBN | : |
Download Mitigation Value, Networked Carbon Markets and the Paris Climate Change Agreement Book in PDF, ePub and Kindle
Carbon markets are undergoing a significant transformation, moving from what could be called Greenhouse Gas (GHG) Markets 1.0, to a new state that may be called GHG Markets 2.0. GHG Markets 2.0 is comprised of a diversity of domestic carbon pricing approaches, as countries choose different approaches depending on their national circumstances and what is politically feasible. A global carbon market remains a key objective, but may take some time to become a reality. A global market could be achieved in a number of ways, including through the "classic" linking approach, which aims to harmonize differences between systems. It implies that a linking agreement has been negotiated between jurisdictions, which then enables trade between the two jurisdictions. Networked Carbon Markets (NCM) offers an alternative approach, which recognizes differences and aims to put a relative value on the units that emerge from different systems. NCM does not seek to 'police' but rather seeks to ensure that jurisdictions have the information they need to make their own decisions about connecting and trading with other carbon markets. This Paper assumes that a carbon unit can have three values, all of which are central to NCM: a Mitigation Value (MV), a Compliance Value (CV) and Financial Value (FV). MV refers to the relative value of a unit versus a defined Standard Unit of reduction. It is important to emphasize that the concept refers to units in the carbon market, not tons. Therefore, MV does not challenge the reality that the atmospheric impact of emitting or reducing a ton of greenhouse gas (GHG) is the same everywhere in the world. The Paper identifies four scenarios with increasing centralized governance for the framework of markets under the upcoming 2015 Paris agreement. It argues that unless a centralized framework is put it in place, it is unlikely that there will be overlap and conflict between the international agreement framework and an NCM.
| Author | : Magnus Feldmann |
| Publisher | : Oxford University Press |
| Total Pages | : 385 |
| Release | : 2023-01-30 |
| Genre | : Business & Economics |
| ISBN | : 019264680X |
Download Business and Populism Book in PDF, ePub and Kindle
Business and Populism analyses the relationship between right wing populism and business with a focus on business responses and strategies in the face of the global populist turn. In the neoliberal era business had become accustomed to favourable economic policy regimes and governance arrangements that facilitated business influence on key policy issues. The rise of populist movements in various parts of the world is widely perceived as a significant challenge to policymaking, mainstream political parties and even to liberal democracy. Yet we know very little about the impact of populism on business, beyond the fact that the anti-elite challenge of populism frequently targets business with policies to restrict globalization, outsourcing, and labour migration whilst at the same time embracing capitalism, low taxes, and deregulated markets. Populists also glory in presenting themselves as authentic representatives of the people, symbolizing this in their demotic language, their rejection of standards of 'polite' society and liberal 'woke' values, including attacking core intermediary institutions such as independent central banks, the judiciary, the civil service, universities and expert knowledge, and a free press central to post-1945 versions of liberal democracy. When faced with these disruptions and the risks they pose for business, how does business respond? Does it choose to support or challenge populists in different countries? This volume advances the debate by providing empirical studies of the impact of right-wing populism on business. Finally, it considers whether populism will continue to be influential and how its success might impact on business strategy and structure.
