Publication:
Multidimensional Auctions for Public Energy Efficiency Projects : Evidence from the Japanese ESCO Market

Simple item page
dc.contributor.authorIimi, Atsushi
dc.date.accessioned2013-09-26T14:28:19Z
dc.date.available2013-09-26T14:28:19Z
dc.date.issued2013-06
dc.description.abstractCompetitive bidding is an important policy tool to procure goods and services from the market at the lowest possible cost. Under traditional public procurement systems, however, it may be difficult to purchase highly customized objects, such as energy efficiency services. This is because not only prices but also other nonmonetary aspects need to be taken into account. Multidimensional auctions are often used to evaluate multidimensional bids. This paper examines the bidding strategy in multidimensional auctions, using data from public energy service company projects in Japan. It shows that multidimensional auctions work well, as theory predicts. The competition effect is significant. In addition, strategic information disclosure, including walk-through and preannouncement of reserve prices, can also promote energy savings and investment. Risk sharing arrangements are critical in the energy service company market. In particular, the public sector should take regulatory risk.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/06/17874375/multidimensional-auctions-public-energy-efficiency-projects-evidence-japanese-esco-market
dc.identifier.doi10.1596/1813-9450-6485
dc.identifier.urihttps://hdl.handle.net/10986/15845
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6485
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAIR
dc.subjectAIR CONDITIONING
dc.subjectAIR CONDITIONING SYSTEMS
dc.subjectALLOCATION
dc.subjectALLOCATION MECHANISM
dc.subjectANNUAL ENERGY SAVINGS
dc.subjectAPPROACH
dc.subjectASYMMETRIC INFORMATION
dc.subjectAUCTION
dc.subjectAUCTION SYSTEM
dc.subjectAUCTIONS
dc.subjectAVAILABILITY
dc.subjectBALANCE
dc.subjectBARREL OF CRUDE
dc.subjectBID
dc.subjectBIDS
dc.subjectBOILERS
dc.subjectBOND
dc.subjectBOND MARKET
dc.subjectBONDS
dc.subjectCALCULATION
dc.subjectCARBON DIOXIDE
dc.subjectCARBON DIOXIDE EMISSIONS
dc.subjectCARBON PRICE
dc.subjectCARBON PRICES
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCO
dc.subjectCO2
dc.subjectCOGENERATION
dc.subjectCOMPETITIVE BIDDING
dc.subjectCONVERGENCE
dc.subjectCOST ESTIMATES
dc.subjectCOST OF CARBON
dc.subjectCOST OF ENERGY
dc.subjectCOST-BENEFIT
dc.subjectCOST-BENEFIT ANALYSIS
dc.subjectCRUDE OIL
dc.subjectDEBT
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISCOUNT RATE
dc.subjectDUMMY VARIABLE
dc.subjectDUMMY VARIABLES
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC THEORY
dc.subjectEFFICIENT LIGHTING
dc.subjectELECTRICITY
dc.subjectELECTRICITY CONSUMPTION
dc.subjectELECTRICITY DEMAND
dc.subjectELECTRICITY PRODUCERS
dc.subjectELECTRICITY UTILITIES
dc.subjectELIGIBLE INVESTMENT
dc.subjectEMISSION
dc.subjectEMISSION REDUCTION
dc.subjectEMPLOYMENT
dc.subjectENERGY AUDIT
dc.subjectENERGY AUDITING
dc.subjectENERGY AUDITS
dc.subjectENERGY CONSERVATION
dc.subjectENERGY CONSUMPTION
dc.subjectENERGY COST SAVINGS
dc.subjectENERGY COSTS
dc.subjectENERGY DEMAND
dc.subjectENERGY EFFICIENCY
dc.subjectENERGY EFFICIENCY INVESTMENTS
dc.subjectENERGY POLICY
dc.subjectENERGY SAVING TECHNOLOGY
dc.subjectENERGY SAVINGS
dc.subjectENERGY SERVICE
dc.subjectENERGY SERVICE COMPANIES
dc.subjectENERGY SERVICES
dc.subjectENERGY SOURCES
dc.subjectENERGY SUPPLY
dc.subjectENERGY USE
dc.subjectENVIRONMENTAL BENEFITS
dc.subjectENVIRONMENTAL PROTECTION
dc.subjectEQUIPMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL RISK
dc.subjectFINANCIAL SERVICES
dc.subjectFISCAL POLICY
dc.subjectFLUORESCENT LIGHTS
dc.subjectGAS UTILITIES
dc.subjectGLOBAL GREENHOUSE GAS
dc.subjectGOVERNMENT EXPENDITURE
dc.subjectGOVERNMENT SUBSIDIES
dc.subjectGREENHOUSE
dc.subjectGREENHOUSE GAS
dc.subjectGREENHOUSE GAS EMISSION
dc.subjectGREENHOUSE GAS EMISSION REDUCTION
dc.subjectGREENHOUSE GAS EMISSIONS
dc.subjectGREENHOUSE GAS MITIGATION
dc.subjectHOT WATER
dc.subjectHOT WATER BOILER
dc.subjectHOT WATER BOILERS
dc.subjectHUMAN RESOURCES
dc.subjectIMPROVING ENERGY EFFICIENCY
dc.subjectINFLATION
dc.subjectINFLATION RISK
dc.subjectINFORMATION DISCLOSURE
dc.subjectINSTITUTIONAL BARRIERS
dc.subjectINSTRUMENT
dc.subjectINTANGIBLE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE CHANGE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINVESTMENT IN ENERGY EFFICIENCY
dc.subjectINVESTMENT PERIOD
dc.subjectIPCC
dc.subjectISSUANCE
dc.subjectLEGAL FRAMEWORK
dc.subjectLOCAL BUSINESS
dc.subjectLOCAL GOVERNMENT
dc.subjectLOCAL GOVERNMENTS
dc.subjectLONG-TERM INVESTMENT
dc.subjectMARKET COMPETITION
dc.subjectNOX
dc.subjectOIL
dc.subjectOIL EQUIVALENT
dc.subjectPEAK DEMAND
dc.subjectPHOTOVOLTAIC POWER
dc.subjectPOLICY IMPLICATIONS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOWER
dc.subjectPP
dc.subjectPRESENT VALUE
dc.subjectPRICE CHANGES
dc.subjectPRICE COMPETITION
dc.subjectPRICE ELASTICITY
dc.subjectPRIVATE FINANCE
dc.subjectPRIVATE INVESTMENT
dc.subjectPROMOTING ENERGY EFFICIENCY
dc.subjectPUBLIC FINANCE
dc.subjectRESERVE
dc.subjectRETROFITTING
dc.subjectRETURN
dc.subjectRISK SHARING
dc.subjectSAVINGS RATE
dc.subjectSAVINGS SCHEMES
dc.subjectSCENARIOS
dc.subjectSOCIAL COST OF CARBON
dc.subjectSOURCE OF ENERGY
dc.subjectSOX
dc.subjectSYNERGISTIC EFFECT
dc.subjectTAX
dc.subjectTRANSACTION
dc.subjectTRANSACTION COST
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPARENCY
dc.subjectUNCERTAINTIES
dc.subjectUNEP
dc.subjectUTILITY FUNCTION
dc.subjectVALUE OF ENERGY
dc.subjectVEHICLES
dc.subjectVENTILATION
dc.subjectWEATHER CONDITIONS
dc.subjectWORLD ENERGY
dc.subjectWORLD ENERGY COUNCIL
dc.subjectmultidimensional auction
dc.titleMultidimensional Auctions for Public Energy Efficiency Projects : Evidence from the Japanese ESCO Marketen
dspace.entity.typePublication
okr.crosscuttingsolutionareaClimate Change
okr.crossref.titleMultidimensional Auctions for Public Energy Efficiency Projects: Evidence from the Japanese ESCO Market
okr.date.disclosure2013-06-01
okr.date.doiregistration2025-04-10T11:47:53.020449Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2013/06/17874375/multidimensional-auctions-public-energy-efficiency-projects-evidence-japanese-esco-market
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.globalpracticeEnergy and Extractives
okr.guid823051468039016987
okr.identifier.doi10.1596/1813-9450-6485
okr.identifier.externaldocumentum000158349_20130617102044
okr.identifier.internaldocumentum17874375
okr.identifier.reportWPS6485
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/06/17/000158349_20130617102044/Rendered/PDF/WPS6485.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryJapan
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicEnvironment::Climate Change Mitigation and Green House Gases
okr.topicEnergy::Energy Demand
okr.topicEnergy::Energy Production and Transportation
okr.unitSustainable Development Department, Africa Region
okr.volume1 of 1
relation.isAuthorOfPublicationeeef1beb-b651-587f-bb16-a47ff170a096
relation.isAuthorOfPublication.latestForDiscoveryeeef1beb-b651-587f-bb16-a47ff170a096
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
WPS6485.pdf
Size:
1.16 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
WPS6485.txt
Size:
115.83 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Policy Research Working Papers