The use of Permit Markets for Incorporating Source Location: the Case of Acid Rain in Europe
AbstractThe paper shows that cost-effective involvement of the source location involves utmost difficulty in practice. Based on the RAINS model, it is recommended that source location should be ignored in a European market for SO2, as is the case in the U.S. Acid Rain Program. The RAINS-model predicts a cost-saving of 37 percent but an average loss of 2 percent in ecological protection. To overcome this reduction in protection, we recommend that some of the large cost-savings should be reallocated in further overall reduction and that the countries suffering the most from introducing the permit-market should be compensated by receiving extra permits in the initial distribution.
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Bibliographic InfoPaper provided by Aarhus School of Business - Department of Economics in its series Papers with number 97-10.
Length: 23 pages
Date of creation: 1997
Date of revision:
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Postal: Department of Economics, Faculty of Business Administration. The Aarhus School of Business. Fuglesangs Alle 4. DK- 8210 Aarhus V - Denmark
Phone: +45 89 486396
Fax: +45 8615 5175
Web page: http://www.asb.dk/about/departments/nat.aspx
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