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Optimal Emissions Taxation under Imperfect Competition in a Durable Good Industry

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  • Marco Runkel

Abstract

This paper investigates optimal emissions taxation under imperfect competition in a durable good industry where products are sold (instead of rented). As a benchmark, attention is paid to the special case of monopoly with exogenously given product durability. In line with previous literature, the optimal emission tax in this benchmark model falls short of marginal damage (underinternalization). Extending the benchmark model either to the case of an oligopolistic market structure and/or to the case of endogenous product durability then provides two cases in which the optimal emission tax overinternalizes marginal damage. Copyright Blackwell Publishers Ltd and the Board of Trustees of the Bulletin of Economic Research, 2004.

Suggested Citation

  • Marco Runkel, 2004. "Optimal Emissions Taxation under Imperfect Competition in a Durable Good Industry," Bulletin of Economic Research, Wiley Blackwell, vol. 56(2), pages 115-132, April.
  • Handle: RePEc:bla:buecrs:v:56:y:2004:i:2:p:115-132
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    Cited by:

    1. Requate, Till, 2005. "Environmental Policy under Imperfect Competition: A Survey," Economics Working Papers 2005-12, Christian-Albrechts-University of Kiel, Department of Economics.
    2. Sagasta Elorza, Amagoia & Usategui Díaz de Otalora, José María, 2012. "Optimal overall emissions taxation in durable goods oligopoly," DFAEII Working Papers DFAEII;2012-18, University of the Basque Country - Department of Foundations of Economic Analysis II.

    More about this item

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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