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Pollution, Factor Ownerships, and Emission Taxes

  • Chorng-Jian Liu

    ()

  • Chao-Cheng Mai

    ()

  • Fu-Chuan Lai

    ()

  • Wen-Chung Guo

    ()

Registered author(s):

    This paper employs Cournot’s ( 1838 ) model of complementary goods to analyze the optimal emission taxation under joint and independent ownership with pollution. When the marginal damage is small (large), an emission taxation is unnecessary (necessary), because the quantity (environmental) distortion is more serious than the environmental (quantity) distortion. This finding has never been presented in the literature. In contrast to Cournot ( 1838 ), a striking result is that independent ownership may be welfare superior to joint ownership when the marginal damage of externality is large in the absence of governmental intervention. Copyright International Atlantic Economic Society 2010

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    File URL: http://hdl.handle.net/10.1007/s11293-010-9213-7
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    Article provided by Springer & International Atlantic Economic Society in its journal Atlantic Economic Journal.

    Volume (Year): 38 (2010)
    Issue (Month): 2 (June)
    Pages: 209-216

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    Handle: RePEc:kap:atlecj:v:38:y:2010:i:2:p:209-216
    DOI: 10.1007/s11293-010-9213-7
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    1. Barnett, A H, 1980. "The Pigouvian Tax Rule under Monopoly," American Economic Review, American Economic Association, vol. 70(5), pages 1037-41, December.
    2. Brueckner, Jan K., 2002. "Network Structure and Airline Scheduling," Working Papers 02-0112, University of Illinois at Urbana-Champaign, College of Business.
    3. Baumol, William J, 1972. "On Taxation and the Control of Externalities," American Economic Review, American Economic Association, vol. 62(3), pages 307-22, June.
    4. Martin, Robert E., 1986. "Externality regulation and the monopoly firm," Journal of Public Economics, Elsevier, vol. 29(3), pages 347-362, April.
    5. Dennis W. Carlton & Glenn C. Loury, 1980. "The Limitations of Pigouvian Taxes as a Long-Run Remedy for Externalities," The Quarterly Journal of Economics, Oxford University Press, vol. 95(3), pages 559-566.
    6. Rajeev Goel & Edward Hsieh, 1997. "Market structure, pigouvian taxation, and welfare," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 25(2), pages 128-138, June.
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