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| Author: | Godby, R. |
| Title: | Market power and emissions trading: theory and laboratory results |
| Journal: | Pacific Economic Review
2000 : OCT, VOL. 5:3, p. 349-363 |
| Index terms: | ENVIRONMENTAL POLICY POLLUTION |
| Freeterms: | MANIPULATION MARKET POWER |
| Language: | eng |
| Abstract: | Policymakers are concerned with market power being exploited by dominant firms in emission permit markets. Two types of market power may emerge: simple and exclusionary manipulation. Simple manipulation should result in reduced pollution- control cost relative to command-and-control regulation. Exclusionary manipulation may result in increased cost. The paper reports results of an economic experiment to determine whether (i) such opportunities are successfully exploited when a dominant firm has the opportunity to do so, and (ii) the resulting outcomes are serious enough to merit consideration by regulations. |
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