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On the long-run efficiency of auctioned vs. free permits

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Author Info

  • Kling, Catherine L.
  • Zhao, Jinhua

Abstract

When 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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File URL: http://www.sciencedirect.com/science/article/B6V84-4177NK6-M/2/09f9efe4fde5c1442f0058fb6bbf07ef
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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 69 (2000)
Issue (Month): 2 (November)
Pages: 235-238

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Handle: RePEc:eee:ecolet:v:69:y:2000:i:2:p:235-238

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Web page: http://www.elsevier.com/locate/ecolet

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References

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  1. Carlton, Dennis W & Loury, Glenn C, 1980. "The Limitations of Pigouvian Taxes as a Long-Run Remedy for Externalities," The Quarterly Journal of Economics, MIT Press, vol. 95(3), pages 559-66, November.
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Cited by:
  1. Neil Ross Lambie, 2010. "Understanding the effect of an emissions trading scheme on electricity generator investment and retirement behaviour: the proposed Carbon Pollution Reduction Scheme," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(2), pages 203-217, 04.
  2. Lambie, N. Ross, 2009. "The role of real options analysis in the design of a greenhouse gas emissions trading scheme," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47626, Australian Agricultural and Resource Economics Society.
  3. Pezzey, John C.V., 2003. "Emission Taxes and Tradable Permits: A Comparison of Views on Long Run Efficiency," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 58198, Australian Agricultural and Resource Economics Society.
  4. Fridrik Baldursson & Jon Sturluson, 2011. "Fees and the Efficiency of Tradable Permit Systems: An Experimental Approach," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 48(1), pages 25-41, January.
  5. Sonia Schwartz, 2009. "Comment distribuer les quotas de pollution ?. Une revue de la littérature," Revue d'économie politique, Dalloz, vol. 0(4), pages 535-568.
  6. Krysiak, Frank C., 2008. "Prices vs. quantities: The effects on technology choice," Journal of Public Economics, Elsevier, vol. 92(5-6), pages 1275-1287, June.
  7. Florent Pratlong, 2005. "Does the distribution of emission permits matter for international competitiveness?," Cahiers de la Maison des Sciences Economiques v05011, Université Panthéon-Sorbonne (Paris 1).
  8. Anthony Heyes, 2009. "Is environmental regulation bad for competition? A survey," Journal of Regulatory Economics, Springer, vol. 36(1), pages 1-28, August.

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