全球智库信息集成服务系统(G2TT): Transferable Licenses vs. Nontransferable Licenses: What is the Difference?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w5484
来源ID	Working Paper 5484
	Transferable Licenses vs. Nontransferable Licenses: What is the Difference?
	Kala Krishna; Ling Hui Tan
发表日期	1996-03-01
出版年	1996
语种	英语
摘要	This paper questions the presumption that transferable quota licenses are worth more and result in higher welfare. We show that the price of a transferable license will tend to be higher than that of its nontransferable counterpart only if the underlying quota is quite restrictive. Despite this, if consumer surplus and license revenue have equal weight in the welfare function, transferability is preferable to nontransferability. If their weights are unequal, then the comparison could go either way. We also show that increased uncertainty, in the form of a mean preserving spread, does not affect the license price under nontransferability and could raise or lower the level of the license price with transferability depending on the restrictiveness of the quota.
URL	https://www.nber.org/papers/w5484
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/562947
推荐引用方式 GB/T 7714	Kala Krishna,Ling Hui Tan. Transferable Licenses vs. Nontransferable Licenses: What is the Difference?. 1996.