| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| On the Efficiency of Competitive Markets for Input Quotas: The Case of Emission Permit Trading | |
| Eftichios S. Sartzetakis | |
| 发表日期 | 1999 |
| 出处 | Climate Change and Sustainable Development |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | It is typical for economists and policy makers alike to presume that competitive markets allocate input licenses efficiently. This paper demonstrates that competition in the licenses market cannot assure efficiency when the product market is oligopolistic. We develop a model to provide the conditions under which a bureaucratic mechanism is welfare superior to a marketable input licenses system. Price taking behaviour in the licenses market ensures transfer of licenses to the less efficient firm which becomes more aggressive in the product market. A higher than the welfare maximising number of licenses are traded. When the input and final output technologies are positively correlated, competitive license trading may result in lower output and welfare. |
| 关键词 | Competitive trading of input quotas,oligopolistic product markets,economic efficiency |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/on-the-efficiency-of-competitive-markets-for-input-quotas-the-case-of-emission-permit-trading/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116485 |
| 推荐引用方式 GB/T 7714 | Eftichios S. Sartzetakis. On the Efficiency of Competitive Markets for Input Quotas: The Case of Emission Permit Trading. 1999. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL1999-093.pdf（527KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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