A complete implementation of the efficient allocation of pollution
This paper presents a simple twofold mechanism that attains a complete implementation of the efficient allocation of pollution. The first component is adopted from Duggan and Roberts [Duggan, J., Roberts, J., 2002. Implementing the efficient allocation of pollution. American Economic Review 92, 1070-1078.]. The second new component takes care of the moral hazard problem.
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References listed on IDEAS
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- Moore, John & Repullo, Rafael, 1988. "Subgame Perfect Implementation," Econometrica, Econometric Society, vol. 56(5), pages 1191-1220, September.
- Evan Kwerel, 1977. "To Tell the Truth: Imperfect Information and Optimal Pollution Control," Review of Economic Studies, Oxford University Press, vol. 44(3), pages 595-601.
- Lewis, Tracy R. & Sappington, David E. M., 1995. "Using markets to allocate pollution permits and other scarce resource rights under limited information," Journal of Public Economics, Elsevier, vol. 57(3), pages 431-455, July.
- Joanne Roberts, 1999.
"Implementing the Efficient Allocation of Pollution,"
jorob-99-01, University of Toronto, Department of Economics.
- John Duggan & Joanne Roberts, 2002. "Implementing the Efficient Allocation of Pollution," American Economic Review, American Economic Association, vol. 92(4), pages 1070-1078, September.
- Partha Dasgupta & Peter Hammond & Eric Maskin, 1980. "On Imperfect Information and Optimal Pollution Control," Review of Economic Studies, Oxford University Press, vol. 47(5), pages 857-860.
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