Measurement of three-jet production cross-sections in pp collisions at 7 TeV centre-of-mass energy using the ATLAS detector

Double-differential three-jet production cross-sections are measured in proton--proton collisions at a centre-of-mass energy of s√=7TeV using the ATLAS detector at the Large Hadron Collider. The measurements are presented as a function of the three-jet mass (mjjj), in bins of the sum of the absolute rapidity separations between the three leading jets (|Y∗|). Invariant masses extending up to 5 TeV are reached for 8<|Y∗|<10. These measurements use a sample of data recorded using the ATLAS detector in 2011, which corresponds to an integrated luminosity of 4.51fb−1. Jets are identified using the anti-kt algorithm with two different jet radius parameters, R=0.4 and R=0.6. The dominant uncertainty in these measurements comes from the jet energy scale. Next-to-leading-order QCD calculations corrected to account for non-perturbative effects are compared to the measurements. Good agreement is found between the data and the theoretical predictions based on most of the available sets of parton distribution functions, over the full kinematic range, covering almost seven orders of magnitude in the measured cross-section values.

Energy and carbon prices: a comparison of interactions in the European Union Emissions Trading Scheme and the Western Climate Initiative market

We provide a comparative analysis of how short-run variations in carbon and energy prices relate to each other in the emerging greenhouse gas market in California (Western Climate Initiative [WCI], and the European Union Emission Trading Scheme [EU ETS]). We characterize the relationship between carbon, gas, coal, electricity and gasoline prices and an indicator for economic activity, and present a first analysis of carbon prices in the WCI. We also provide a comparative analysis of the structures of the two markets. We estimate a vector autoregressive model and the impulse--response functions. Our main findings show a positive impact from a carbon shock toward electricity, in both markets, but larger in the WCI electricity price, indicating more efficiency. We propose that the widening of carbon market sectors, namely fuels transport and electricity imports, may contribute to this result. To conclude, the research shows significant and coherent relations between variables in WCI, which demonstrate some degree of success for a first year in operation. Reversely, the EU ETS should complete its intended market reform, to allow for more impact of the carbon price. Finally, in both markets, there is no evidence of carbon pricing depleting economic activity.