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Environmental Policy under Ambiguity

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Author Info
Leon Vinokur () (Queen Mary, University of London)
Abstract

The aim of this paper is to extend existing literature on carbon allowance allocation, investigating the impact of uncertainty and ambiguity, due to the lack of future Environmental policy, on the total production in the market. Specifically, we show that an increase in uncertainty has no effect on the total output, whereas an increase in ambiguity leads to a decrease in the total output. An output-based allocation model in Cournot Oligopoly will be used. We will adopt the National Allocation Plan (NAP) of UK for the Second Phase (2005-07) as a case study.

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Paper provided by Queen Mary, University of London, Department of Economics in its series Working Papers with number 638.

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Date of creation: Mar 2009
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Handle: RePEc:qmw:qmwecw:wp638

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Related research
Keywords: Carbon allowances; Permits allocation; EU ETS; Uncertainty;

Find related papers by JEL classification:
D2 - Microeconomics - - Production and Organizations
D8 - Microeconomics - - Information, Knowledge, and Uncertainty
Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

This paper has been announced in the following NEP Reports:

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This page was last updated on 2009-12-3.

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