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| Author: | Burtaw, D. |
| Title: | Improving efficiency in bilaterial emission trading |
| Journal: | Environmental and Resource Economics
1998 : JAN, VOL. 11:1, p. 19-33 |
| Index terms: | EFFICIENCY BILATERAL TRADE ENVIRONMENT |
| Language: | eng |
| Abstract: | When environmental damages from emissions are spatially nonuniform, permit trading has been modeled most often as a "pollution offset program" in which emission permits are traded between agents, subject to constraints on ambient air quality. To date the institution envisioned to implement such a program involves trading on a bilateral and sequential basis. This paper identifies a design for the trading institution that tends to overcome this phenomenon and improve the efficiency of equilibria obtained in a simulation model. |
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