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Trading Quasi-emission Permits.Vers. 6/2003

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  • Juan-Pablo Montero

    () (Instituto de Economía. Pontificia Universidad Católica de Chile.)

Abstract

I study the design of environmental policies for a regulator that has incomplete information on firms' emissions and costs of production and abatement (e.g., air pollution in cities with numerous small polluting sources). Because of incomplete information on emissions, there is no policy that can implement the first-best. Since the regulator can observe firms' abatement technologies, however, it is possible to design a quasi-emissions trading program based on this information and show that it can provide higher welfare than command-and control regulation such as technology or emission standards. I then empirically examine this claim using evidence from a particulate quasi-emissions trading program in Santiago, Chile.

Suggested Citation

  • Juan-Pablo Montero, 2002. "Trading Quasi-emission Permits.Vers. 6/2003," Documentos de Trabajo 201, Instituto de Economia. Pontificia Universidad Católica de Chile..
  • Handle: RePEc:ioe:doctra:201
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    1. Rafael Kelman & Luiz Barroso & Mario Pereira, 2005. "Market Power Assessment and Mitigation in Hydrothermal Systems," Game Theory and Information 0508009, EconWPA.
    2. Carlos Díaz & Alexander Galetovic & Raimundo Soto, "undated". "La crisis eléctrica de 1998-1999: causas, consecuencias y lecciones," ILADES-Georgetown University Working Papers inv126, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines.
    3. repec:reg:rpubli:394 is not listed on IDEAS
    4. Green, R., 1996. "The Electricity Contract Market," Cambridge Working Papers in Economics 9616, Faculty of Economics, University of Cambridge.
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