Tradable Emission Permits Regulations: The Role of Product Differentiation
This paper examines the role of product differentiation within the model of Sartzetakis (1997, 2004) and shows that consumer surplus may be reduced under a tradable emission permits system rather than a command and control system when there is a high degree of product differentiation or less competition between two firms. We also investigate comparative static effects of the degree of product differentiation on equilibrium output and abatement levels under the two regulatory regimes.
Volume (Year): 4 (2005)
Issue (Month): 3 (December)
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- Hung, Nguyen Manh & Sartzetakis, Eftichios Sophocles, 1998. "Cross-Industry Emission Permits Trading," Journal of Regulatory Economics, Springer, vol. 13(1), pages 37-46, January.
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- Eftichios Sartzetakis, 2004. "On the Efficiency of Competitive Markets for Emission Permits," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 27(1), pages 1-19, January.
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- Malueg, David A., 1990. "Welfare consequences of emission credit trading programs," Journal of Environmental Economics and Management, Elsevier, vol. 18(1), pages 66-77, January.
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