Bankable Pollution Permits under Uncertainty and Optimal Risk Management Rules: Theory and Empirical Evidence
AbstractAn increase in the demand for agricultural goods leads to the use of more intensive cultivation methods. Though Ricardo sees no difficulties in the intensification process, their existence is revealed by the possible occurrence of multiple equilibria. A general theory of intensive rent is based on a formal parallel with single-product systems without land.
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Bibliographic InfoPaper provided by University of Paris West - Nanterre la Défense, EconomiX in its series EconomiX Working Papers with number 2008-25.
Length: 47 pages
Date of creation: 2008
Date of revision:
Firm behavior; Tradable permits; Policy risk; EU ETS;
Find related papers by 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
This paper has been announced in the following NEP Reports:
- NEP-AGR-2008-12-14 (Agricultural Economics)
- NEP-ALL-2008-12-14 (All new papers)
- NEP-ENV-2008-12-14 (Environmental Economics)
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