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On the Long-Run Efficiency of Auctioned vs. Free Permits

  • Kling, Catherine L.
  • Zhao, Jinhua

When marketable emission permits affect the entry and exit decisions of competitive firms, all permits should not be distributed free of charge. Depending on the nature of the pollutant, an optimal share of the permits should be auctioned with others freely distributed to ensure long-run efficiency. All of the permits should be auctioned for global pollutants, but for local pollutants, some of the permits should be free.

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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 1836.

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Date of creation: 01 Nov 2000
Date of revision:
Publication status: Published in Economics Letters, November 2000, vol. 69 no. 2, pp. 235-38
Handle: RePEc:isu:genres:1836
Contact details of provider: Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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  1. repec:cup:cbooks:9780521311120 is not listed on IDEAS
  2. repec:cup:cbooks:9780521322249 is not listed on IDEAS
  3. Carlton, Dennis W & Loury, Glenn C, 1980. "The Limitations of Pigouvian Taxes as a Long-Run Remedy for Externalities," The Quarterly Journal of Economics, MIT Press, vol. 95(3), pages 559-66, November.
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