01488nab a2200217 4500 20260520000805.0 260224s2009 xxu Risk aversion and institutional information disclosure on the European carbon market A case-study of the 2006 compliance event ene. 2009 26/02/2009 ; 26/02/2009 13 p. ; 15-28 Transcripción del resúmen publicado por el autor: This article evaluates the impact of the 2006 compliance event on changes in investors’ risk aversion on the European carbon market using the newly available option prices dataset. Thus, we aim at capturing the specific event that occurred on April 2007 as the European Commission disclosed the 2006 verified emissions data. Following the methodology existing for stock indices, we recover empirically risk aversion adjustments on the period 2006–2007 by estimating first the risk-neutral distribution from option prices and second the actual distribution from futures on the European Climate Exchange. Our results show evidence of a dramatic change in the market perception of risk around the 2006 yearly compliance event that has not been assessed yet. 1 Energy Policy 37 ARTICULO Chevallier, Julien 40410 Ielpo, Florian 40411 Mercier, Ludovic 40412 Precios 9526 169142 169142 0 0 0 0 236961 BAAB BAAB 2026-03-05 200043933 0 200043933 2026-03-05 15:11:21 2026-03-05 ARTICULO