Transferable Licenses vs. Nontransferable Licences: What Is the Difference?
AbstractThis paper questions the presumption that transferable quota licenses are worth more and result in higher welfare. We show that the price of a transferable license will tend to be higher than of its nontransferable counterpart only if the underlying quota is quite restrictive.
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Bibliographic InfoPaper provided by Pennsylvania State - Department of Economics in its series Papers with number 2-96-2.
Length: 32 pages
Date of creation: 1996
Date of revision:
Contact details of provider:
Postal: PENNSYLVANIA STATE UNIVERSITY, DEPARTMENT OF ECONOMICS, UNIVERSITY PARK PENNSYLVANIA 16802 U.S.A.
Web page: http://econ.la.psu.edu/
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Other versions of this item:
- Kala Krishna & Ling Hui Tan, 1996. "Transferable Licenses vs. Nontransferable Licenses: What is the Difference?," NBER Working Papers 5484, National Bureau of Economic Research, Inc.
- Kala Krishna & Ling Hui Tan, . "Transferable Licenses vs. Nontransferable Licences: What is the Difference?," EPRU Working Paper Series 96-02, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing
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