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A Note on Tradeable Permits

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  • A. Ellerman

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Abstract

This note offers a perspective on whether tradeable permits are a passing fad or an enduring trend. It does so in noting how various types of tradeable permit systems relate to conventional environmental permits, what are the unique requirements of tradeable permit systems, and why they might be preferred to alternative instruments. A final observation concerns the analogy between tradeable permits for environmental goods and private property in land. Copyright Springer 2005

Suggested Citation

  • A. Ellerman, 2005. "A Note on Tradeable Permits," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 31(2), pages 123-131, June.
  • Handle: RePEc:kap:enreec:v:31:y:2005:i:2:p:123-131
    DOI: 10.1007/s10640-005-1760-z
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    References listed on IDEAS

    as
    1. Goulder, Lawrence H. & Parry, Ian W. H. & Williams III, Roberton C. & Burtraw, Dallas, 1999. "The cost-effectiveness of alternative instruments for environmental protection in a second-best setting," Journal of Public Economics, Elsevier, vol. 72(3), pages 329-360, June.
    2. Leonard Shabman & Kurt Stephenson & William Shobe, 2002. "Trading Programs for Environmental Management: Reflections on the Air and Water Experiences," Working Papers 2002-01, Center for Economic and Policy Studies.
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    Citations

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    Cited by:

    1. Lozano, S. & Villa, G. & Brännlund, R., 2009. "Centralised reallocation of emission permits using DEA," European Journal of Operational Research, Elsevier, vol. 193(3), pages 752-760, March.
    2. Bing Zhang & Yongliang Zhang, 2016. "Policy Conflicts and the Performance of Emissions Trading Markets: An Adaptive Agent-based Analysis," EEPSEA Research Report rr20160339, Economy and Environment Program for Southeast Asia (EEPSEA), revised Mar 2016.
    3. repec:ipg:wpaper:2014-565 is not listed on IDEAS
    4. Julien Chevallier & Benoît Sévi, 2014. "On the Stochastic Properties of Carbon Futures Prices," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(1), pages 127-153, May.
    5. Thierry Bréchet & Pierre M. Picard, 2010. "The Price Of Silence: Markets For Noise Licenses And Airports," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(4), pages 1097-1125, November.
    6. Sovacool, Benjamin K., 2015. "The political economy of pollution markets: Historical lessons for modern energy and climate planners," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 943-953.
    7. Chevallier, Julien & Etner, Johanna & Jouvet, Pierre-André, 2011. "Bankable emission permits under uncertainty and optimal risk-management rules," Research in Economics, Elsevier, vol. 65(4), pages 332-339, December.
    8. David de la Croix & Axel Gosseries, 2007. "Procreation, Migration and Tradable Quotas," Chapters,in: Population Aging, Intergenerational Transfers and the Macroeconomy, chapter 9 Edward Elgar Publishing.
    9. Nguyen, N.P. & Shortle, J.S. & Reed, P.M. & Nguyen, T.T., 2013. "Water quality trading with asymmetric information, uncertainty and transaction costs: A stochastic agent-based simulation," Resource and Energy Economics, Elsevier, vol. 35(1), pages 60-90.
    10. Debra Israel, 2007. "Environmental participation in the U.S. sulfur allowance auctions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 38(3), pages 373-390, November.
    11. Quinn, Nigel W.T., 2011. "Adaptive implementation of information technology for real-time, basin-scale salinity management in the San Joaquin Basin, USA and Hunter River Basin, Australia," Agricultural Water Management, Elsevier, vol. 98(6), pages 930-940, April.
    12. Larson, Donald F. & Ambrosi, Philippe & Dinar, Ariel & Rahman, Shaikh Mahfuzur & Entler, Rebecca, 2008. "Carbon markets, institutions, policies, and research," Policy Research Working Paper Series 4761, The World Bank.
    13. Mustika, Putu Liza Kusuma & Birtles, Alastair & Welters, Riccardo & Marsh, Helene, 2012. "The economic influence of community-based dolphin watching on a local economy in a developing country: Implications for conservation," Ecological Economics, Elsevier, vol. 79(C), pages 11-20.
    14. Kim, Young-Duk & Han, Hyun-Ok & Moon, Young-Seok, 2011. "The empirical effects of a gasoline tax on CO2 emissions reductions from transportation sector in Korea," Energy Policy, Elsevier, vol. 39(2), pages 981-989, February.
    15. Ghosh, Gaurav & Shortle, James, 2012. "Managing Pollution Risk through Emissions Trading," FCN Working Papers 1/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).

    More about this item

    Keywords

    emissions trading; environmental regulation; property rights; tradeable permits; Q58; K32; D23;

    JEL classification:

    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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