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Changes in the firms behavior after the opening of markets of allowances

  • Antoine Mandel

    ()

    (Axe Economie mathématique et jeux - CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS)

This paper focuses on the influence on the general equilibrium of an economy of the opening of markets of allowances, such as the European Union Emission Trading Scheme. Assuming there existed an equilibrium before the opening of allowances' markets, we describe the changes in the firms behavior which guarantee that an equilibrium can be reached in the enlarged economy. Hence we describe under which conditions the economy can undergo the opening of markets of allowances.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number hal-00633355.

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Date of creation: 2009
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Handle: RePEc:hal:cesptp:hal-00633355
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  1. Bonnisseau, J.M., 1995. "Existence of Equilibria in Economies with Externalities and Non Convexities," Papiers d'Economie Mathématique et Applications 95.45, Université Panthéon-Sorbonne (Paris 1).
  2. GIRAUD, Gaël, 2000. "An algebraic index theorem for non-smooth economies," CORE Discussion Papers 2000016, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Antoine Mandel, 2008. "An index formula for production economies with externalities," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00634648, HAL.
  4. Bonnisseau, J.M. & Medecin, J.-P., 2000. "Existence of Marginal Pricing Equilibria in Economies with Externalities and Non Convexities," Papiers d'Economie Mathématique et Applications 2000.84, Université Panthéon-Sorbonne (Paris 1).
  5. Bonnisseau, Jean-Marc & Cornet, Bernard, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 119-147, April.
  6. Elul Ronel, 1995. "Welfare Effects of Financial Innovation in Incomplete Markets Economies with Several Consumption Goods," Journal of Economic Theory, Elsevier, vol. 65(1), pages 43-78, February.
  7. Dreze, Jacques H, 1975. "Existence of an Exchange Equilibrium under Price Rigidities," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 301-20, June.
  8. Antoine Mandel, 2007. "Changes in the firms behavior after the opening of an allowance market," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00155783, HAL.
  9. Alexandrine Jamin & Antoine Mandel, 2006. "A general equilibrium analysis of emission allowances," Cahiers de la Maison des Sciences Economiques b06003, Université Panthéon-Sorbonne (Paris 1).
  10. David Cass & Alessandro Citanna, 1998. "Pareto improving financial innovation in incomplete markets," Economic Theory, Springer, vol. 11(3), pages 467-494.
  11. Bonnisseau, Jean-Marc, 1992. "Existence of equilibria in the presence of increasing returns : A synthesis," Journal of Mathematical Economics, Elsevier, vol. 21(5), pages 441-452.
  12. Dehez, Pierre & Dreze, Jacques, 1988. "Competitive equilibria with quantity-taking producers and increasing returns to scale," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 209-230, April.
  13. Boyd, John III & Conley, John P., 1997. "Fundamental Nonconvexities in Arrovian Markets and a Coasian Solution to the Problem of Externalities," Journal of Economic Theory, Elsevier, vol. 72(2), pages 388-407, February.
  14. Jouini, Elyès, 1992. "An index theorem for nonconvex production economies," Economics Papers from University Paris Dauphine 123456789/5638, Paris Dauphine University.
  15. Conley, John P. & Smith, Stefani C., 2005. "Coasian equilibrium," Journal of Mathematical Economics, Elsevier, vol. 41(6), pages 687-704, September.
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