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| Author: | Böhringer, C. Lange, A. |
| Title: | On the design of optimal grandfathering schemes for emission allowances |
| Journal: | European Economic Review
2005 : NOV, VOL. 49:8, p. 2041-2055 |
| Index terms: | efficiency environmental economics |
| Language: | eng |
| Abstract: | This article discusses the allocation of emission allowances. The authors aim to provide optimal schemes for the free allocation of emission allowances in a dynamic context. The results show that emissions- and output-based allocations do not necessarily yield inefficient outcomes. According to the author, in closed trading systems with an absolute cap on emissions, grandfather schemes which allocate allowances proportionally to past emission are first-best. |
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