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Stockage des permis de pollution en incertitude et règle de partage optimal de risques

Author

Listed:
  • Johanna Etner
  • Pierre-André Jouvet

Abstract

The well known economic advantage of tradable permits over command and control obviously vanish if firms do not trade because of policy uncertainty. In fact, uncertainty about changes in the permits program could make firms reluctant to invest in tradable permits. This article proposes to give optimal risk sharing rules in order to respond to policy risk. We show how banking of tradable permits can be used as a tool of policy risk control.

Suggested Citation

  • Johanna Etner & Pierre-André Jouvet, 2006. "Stockage des permis de pollution en incertitude et règle de partage optimal de risques," EconomiX Working Papers 2006-7, University of Paris Nanterre, EconomiX.
    • Handle: RePEc:drm:wpaper:2006-7
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    Keywords

    Firm behavior; tradable permits; policy risk.;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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