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Représentation théorique des marchés de permis négociables

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The question at stake is that of the theoretical representation of marketable permits. The setting up of such markets to regulate pollution problems is justified by constant reference to the efficiency of market coordination. Indeed, Montgomery established in 1972 the existence of an efficient solution - enabling the respect of environmental norms at the lowest cost. Nevertheless, the problem of the exchange process, of prices formation on these markets is generally eluded and efficiency of market coordination is implicitly assumed.

Suggested Citation

  • Nathalie Berta, 2004. "Représentation théorique des marchés de permis négociables," Cahiers de la Maison des Sciences Economiques r04042, Université Panthéon-Sorbonne (Paris 1).
  • Handle: RePEc:mse:wpsorb:r04042
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    File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2004/R04042.pdf
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    References listed on IDEAS

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    1. Montgomery, W. David, 1972. "Markets in licenses and efficient pollution control programs," Journal of Economic Theory, Elsevier, vol. 5(3), pages 395-418, December.
    2. Stavins, Robert, 2004. "Environmental Economics," Discussion Papers dp-04-54, Resources For the Future.
    3. J. H. Dales, 1968. "Land, Water, and Ownership," Canadian Journal of Economics, Canadian Economics Association, vol. 1(4), pages 791-804, November.
    4. Nathalie BERTA, 2000. "Le marché dans les modèles de Gérard Debreu," Discussion Papers (REL - Recherches Economiques de Louvain) 2000033, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    5. Baumol,William J. & Oates,Wallace E., 1988. "The Theory of Environmental Policy," Cambridge Books, Cambridge University Press, number 9780521322249.
    6. 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.
    7. Robert W. Hahn, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, Oxford University Press, vol. 99(4), pages 753-765.
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    More about this item

    Keywords

    Market; perfect competition; marketable permits; pollution.;

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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