| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19780 |
| 来源ID | Working Paper 19780 |
| Optimal Trading Ratios for Pollution Permit Markets | |
| Stephen Holland; Andrew J. Yates | |
| 发表日期 | 2014-01-23 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We analyze a novel method for improving the efficiency of pollution permit markets by optimizing the way in which emissions are exchanged through trade. Under full-information, it is optimal for emissions to exchange according to the ratio of marginal damages. However, under a canonical model with asymmetric information between the regulator and the sources of pollution, we show that these marginal damage trading ratios are generally not optimal, and we show how to modify them to improve efficiency. We calculate the optimal trading ratios for a global carbon market and for a regional nitrogen market. In these examples, the gains from using optimal trading ratios rather than marginal damage trading ratios range from substantial to trivial, which suggests the need for careful consideration of the structure of asymmetric information when designing permit markets. |
| 主题 | Microeconomics ; Economics of Information ; Public Economics ; Taxation ; Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w19780 |
| 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/577501 |
| 推荐引用方式 GB/T 7714 | Stephen Holland,Andrew J. Yates. Optimal Trading Ratios for Pollution Permit Markets. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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