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  "documentTitle": "ey net zero centre carbon offset publication 20220530",
  "authorId": "MorganStanley",
  "authorName": "Grantham Research Institute",
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      "text": "The right panel of 9 shows, that the CDM only performs on par with lottery assignment when CDM projects are handicapped by a 20% penalty in both connection costs and capacity factors.",
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      "text": "Figure 9: Sensitivity to asymmetric measurement error in connection costs and capacity factors",
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      "text": "Row (7) of Table 1 shows the results for β = 1.2. At this value, the number of BLIMPs drops sharply, however, the BLIMPs that remain still account for a large number of carbon offsets.",
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      "text": "It is possible that there are other sources of systematic measurement error that we haven't thought about. How much measurement error would be necessary to qualitatively alter our findings?",
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      "text": "Omitted Variables: Factors other than capacity, capacity factors, and connection costs could, conceivably, produce systematic differences in profitability even among wind farms built in the same state and year.",
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      "text": "This value, applied only to CDM projects, inflates connection distances by 20% and reduces capacity factors by 20%.",
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