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Designing organizations for trading pollution rights

Author

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  • Ledyard, John O.
  • Szakaly-Moore, Kristin

Abstract

Regulators and academicians have recently become interested in using a marketable permits program as a new way to control aggregate pollution emissions. Our research focuses on choosing a permit trading mechanism that is both economically efficient and politically viable. We consider an organized trading process and a revenue neutral auction, both of which involve an initial allocation of permits based on past history. Each is tested in a non-monopolistic and monopolistic environment to determine which mechanism performs best. The results suggest that, overall, the organized trading process outperforms the revenue neutral auction.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Ledyard, John O. & Szakaly-Moore, Kristin, 1994. "Designing organizations for trading pollution rights," Journal of Economic Behavior & Organization, Elsevier, vol. 25(2), pages 167-196, October.
    • Handle: RePEc:eee:jeborg:v:25:y:1994:i:2:p:167-196
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    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

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