IDEAS home Printed from https://ideas.repec.org/p/ags/aaea99/21638.html

Shadow Prices Of Sulfur Dioxide Allowance In Phase I Electric Utilities

Author

Listed:
  • Rezek, Jon P.

Abstract

The divergence of SO2 allowance price from initial estimates has spawned substantial interest since emission trading began. This paper uses non-parametric DEA to calculate technical, output revenue and allocative efficiency measures of Phase I electric plants. The allocative efficiency measure is then used to determine if allowance prices actually reflect opportunity costs.

Suggested Citation

  • Rezek, Jon P., 1999. "Shadow Prices Of Sulfur Dioxide Allowance In Phase I Electric Utilities," 1999 Annual meeting, August 8-11, Nashville, TN 21638, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea99:21638
    DOI: 10.22004/ag.econ.21638
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/21638/files/sp99re01.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.21638?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. repec:aen:journl:1998v19-04-a03 is not listed on IDEAS
    2. Ellerman, A. Denny & Montero, Juan-Pablo, 1998. "The Declining Trend in Sulfur Dioxide Emissions: Implications for Allowance Prices," Journal of Environmental Economics and Management, Elsevier, vol. 36(1), pages 26-45, July.
    3. Daniel Tyteca, 1997. "Linear Programming Models for the Measurement of Environmental Performance of Firms—Concepts and Empirical Results," Journal of Productivity Analysis, Springer, vol. 8(2), pages 183-197, May.
    4. Coggins, Jay S. & Swinton, John R., 1996. "The Price of Pollution: A Dual Approach to Valuing SO2Allowances," Journal of Environmental Economics and Management, Elsevier, vol. 30(1), pages 58-72, January.
    5. Joskow, Paul L & Schmalensee, Richard & Bailey, Elizabeth M, 1998. "The Market for Sulfur Dioxide Emissions," American Economic Review, American Economic Association, vol. 88(4), pages 669-685, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hammoudeh, Shawkat & Nguyen, Duc Khuong & Sousa, Ricardo M., 2014. "What explain the short-term dynamics of the prices of CO2 emissions?," Energy Economics, Elsevier, vol. 46(C), pages 122-135.
    2. Benz, Eva & Trück, Stefan, 2009. "Modeling the price dynamics of CO2 emission allowances," Energy Economics, Elsevier, vol. 31(1), pages 4-15, January.
    3. repec:ipg:wpaper:2014-081 is not listed on IDEAS
    4. repec:hum:wpaper:sfb649dp2006-076 is not listed on IDEAS
    5. Shawkat Hammoudeh & Duc Khuong Nguyen & Ricardo M. Sousa, 2014. "What explains the short," Working Papers 2014-81, Department of Research, Ipag Business School.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. J. Diltz, 2002. "U.S. Equity Markets and Environmental Policy. The Case of Electric Utility Investor Behavior During the Passage of the Clean Air Act Amendments of 1990," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 23(4), pages 379-401, December.
    2. Burtraw, Dallas & Szambelan, Sarah Jo, 2009. "U.S. Emissions Trading Markets for SO2 and NOx," RFF Working Paper Series dp-09-40, Resources for the Future.
    3. Arimura, Toshi H., 2002. "An Empirical Study of the SO2 Allowance Market: Effects of PUC Regulations," Journal of Environmental Economics and Management, Elsevier, vol. 44(2), pages 271-289, September.
    4. Boutabba, Mohamed Amine & Beaumais, Olivier & Lardic, Sandrine, 2012. "Permit price dynamics in the U.S. SO2 trading program: A cointegration approach," Energy Economics, Elsevier, vol. 34(3), pages 714-722.
    5. Soledad Moya & Jordi Perramon & Anselm Constans, 2005. "IFRS Adoption in Europe: The Case of Germany," Working Papers 0501, Departament Empresa, Universitat Autònoma de Barcelona, revised Feb 2005.
    6. Jon Rezek & Benjamin F. Blair, 2005. "Abatement Cost Heterogeneity In Phase I Electric Utilities," Contemporary Economic Policy, Western Economic Association International, vol. 23(3), pages 324-340, July.
    7. Margaret Insley, 2003. "On the option to invest in pollution control under a regime of tradable emissions allowances," Canadian Journal of Economics, Canadian Economics Association, vol. 36(4), pages 860-883, November.
    8. Kumar, Surender & Gupta, Sreekant, 2004. "Resource use efficiency of US electricity generating plants during the SO2 trading regime: A distance function approach," Working Papers 04/17, National Institute of Public Finance and Policy.
    9. Hailu, Atakelty & Hailu, Atakelty, 2003. "Pollution abatement and productivity performance of regional Canadian pulp and paper industries," Journal of Forest Economics, Elsevier, vol. 9(1), pages 5-25.
    10. Halkos, George & Petrou, Kleoniki Natalia, 2019. "Treating undesirable outputs in DEA: A critical review," Economic Analysis and Policy, Elsevier, vol. 62(C), pages 97-104.
    11. Juan-Pablo Montero, 1999. "Voluntary Compliance with Market-Based Environmental Policy: Evidence from the U.S. Acid Rain Program," Journal of Political Economy, University of Chicago Press, vol. 107(5), pages 998-1033, October.
    12. Hoang, Viet-Ngu & Rao, D.S. Prasada, 2010. "Measuring and decomposing sustainable efficiency in agricultural production: A cumulative exergy balance approach," Ecological Economics, Elsevier, vol. 69(9), pages 1765-1776, July.
    13. Stavins, Robert, 2003. "Market-Based Environmental Policies: What Can We Learn from U.S. Experience and Related Research?," Working Paper Series rwp03-031, Harvard University, John F. Kennedy School of Government.
    14. Ling Huang & Yishu Zhou, 2019. "Carbon Prices and Fuel Switching: A Quasi-experiment in Electricity Markets," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(1), pages 53-98, September.
    15. Holland, Stephen P. & Moore, Michael R., 2013. "Market design in cap and trade programs: Permit validity and compliance timing," Journal of Environmental Economics and Management, Elsevier, vol. 66(3), pages 671-687.
    16. Andrés J Picazo-Tadeo & Andrés García-Reche, 2007. "What Makes Environmental Performance Differ between Firms? Empirical Evidence from the Spanish Tile Industry," Environment and Planning A, , vol. 39(9), pages 2232-2247, September.
    17. Cynthia Morgan & Ronald J. Shadbegian & Wayne B. Gray, 2005. "Benefits and Costs from Sulfur Dioxide Trading: A Distributional Analysis," NCEE Working Paper Series 200509, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Dec 2005.
    18. Stavins, Robert, 2001. "Lessons From the American Experiment With Market-Based Environmental Policies," RFF Working Paper Series dp-01-53, Resources for the Future.
    19. Reimund Schwarze & Peter Zapfel, 2000. "Sulfur Allowance Trading and the Regional Clean Air Incentives Market: A Comparative Design Analysis of two Major Cap-and-Trade Permit Programs?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 17(3), pages 279-298, November.
    20. Lauwers, Ludwig, 2009. "Justifying the incorporation of the materials balance principle into frontier-based eco-efficiency models," Ecological Economics, Elsevier, vol. 68(6), pages 1605-1614, April.

    More about this item

    Keywords

    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea99:21638. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.