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Trading Sulphur Emissions in Europe: `Guided Bilateral Trade'

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Author Info

  • S. Kruitwagen
  • H. Folmer
  • E. Hendrix
  • L. Hordijk
  • E. van Ierland

Abstract

In this paper a system of `guided permit trading' is developed for SO 2emissions reduction which considers permit trading as a bilateral andsequential process. This implies that in order to meet the deposition targetsat the end of the trading process, not every single trade transaction hasto meet the deposition targets. To ensure that the target is ultimately met,the number of permits traded should be controlled by a trade coordinatinginstitution. A simulation of the system of guided bilateral trading ofSO 2 permits among European countries on the basis of the SecondSO 2 Protocol indicates that some non-profitable trade transactionstake place. This prevents the cost effective emission allocation from beingfully achieved. However, the calculations show that guided bilateral permittrading may generate substantial cost savings while contributing toenvironmental protection. Copyright Kluwer Academic Publishers 2000

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File URL: http://hdl.handle.net/10.1023/A:1008371731089
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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 16 (2000)
Issue (Month): 4 (August)
Pages: 423-441

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Handle: RePEc:kap:enreec:v:16:y:2000:i:4:p:423-441

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: tradeable permits; acid rain;

References

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  1. Hahn, Robert W, 1989. "Economic Prescriptions for Environmental Problems: How the Patient Followed the Doctor's Orders," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 95-114, Spring.
  2. Krupnick, Alan J. & Oates, Wallace E. & Van De Verg, Eric, 1983. "On marketable air-pollution permits: The case for a system of pollution offsets," Journal of Environmental Economics and Management, Elsevier, vol. 10(3), pages 233-247, September.
  3. Atkinson, Scott E. & Tietenberg, T. H., 1982. "The empirical properties of two classes of designs for transferable discharge permit markets," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 101-121, June.
  4. Atkinson, Scott & Tietenberg, Tom, 1991. "Market failure in incentive-based regulation: The case of emissions trading," Journal of Environmental Economics and Management, Elsevier, vol. 21(1), pages 17-31, July.
  5. Dallas Burtraw & Keneth Harrison & Paul Turner, 1998. "Improving Efficiency in Bilateral Emission Trading," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 11(1), pages 19-33, January.
  6. McGartland, Albert M. & Oates, Wallace E., 1985. "Marketable permits for the prevention of environmental deterioration," Journal of Environmental Economics and Management, Elsevier, vol. 12(3), pages 207-228, September.
  7. Montgomery, W. David, 1972. "Markets in licenses and efficient pollution control programs," Journal of Economic Theory, Elsevier, vol. 5(3), pages 395-418, December.
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Cited by:
  1. Petra Hellegers & Ekko van Ierland, 2003. "Policy Instruments for Groundwater Management in the Netherlands," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 26(1), pages 163-172, September.

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