On the long-run efficiency of auctioned vs. free permits
AbstractWhen marketable emission permits affect the entry and exit decisions of competitive firms, all permits should not be distributed free of charge. Depending on the nature of the pollutant, an optimal share of the permits should be auctioned with others freely distributed to ensure long-run efficiency. All of the permits should be auctioned for global pollutants, but for local pollutants, some of the permits should be free.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 69 (2000)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Kling, Catherine L. & Zhao, Jinhua, 2000. "On the Long-Run Efficiency of Auctioned vs. Free Permits," Staff General Research Papers 1836, Iowa State University, Department of Economics.
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