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Double Dipping In Pollution Markets

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Author Info

  • Woodward, Richard T.
  • Han, Manseung

Abstract

We explore the efficiency of allowing participants in transferable-rights programs to sell credits in multiple markets, i.e., to double dip. In a first-best economy double-dipping is efficient, but if the cap is set suboptimally, then the answer depends on the relative slopes of the marginal benefit and marginal cost curves.

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File URL: http://purl.umn.edu/20323
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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2004 Annual meeting, August 1-4, Denver, CO with number 20323.

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Date of creation: 2004
Date of revision:
Handle: RePEc:ags:aaea04:20323

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Keywords: Environmental Economics and Policy;

References

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  1. Montgomery, W. David, 1972. "Markets in licenses and efficient pollution control programs," Journal of Economic Theory, Elsevier, vol. 5(3), pages 395-418, December.
  2. Donald N. Dewees, 2000. "Emissions Trading: ERCs or Allowances," Working Papers dewees-00-01, University of Toronto, Department of Economics.
  3. Erik Schmieman & Ekko van Ierland & Leen Hordijk, 2002. "Dynamic Efficiency with Multi-Pollutants and Multi-Targets The Case of Acidification and Tropospheric Ozone Formation in Europe," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(2), pages 133-148, October.
  4. Helfand, Gloria E, 1991. "Standards versus Standards: The Effects of Different Pollution Restrictions," American Economic Review, American Economic Association, vol. 81(3), pages 622-34, June.
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Cited by:
  1. Heberling, Matthew T. & GarcĂ­a, Jorge H. & Thurston, Hale W., 2010. "Does encouraging the use of wetlands in water quality trading programs make economic sense?," Ecological Economics, Elsevier, vol. 69(10), pages 1988-1994, August.

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