haku: @author Tan, L. / yhteensä: 1
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| Tekijä: | Krishna, K. Tan, L. |
| Otsikko: | Transferable licenses versus nontransferable licenses: what is the difference? |
| Lehti: | International Economic Review
1999 : AUG, VOL. 40:3, p. 785-800 |
| Asiasana: | ECONOMICS LICENSING INTERNATIONAL |
| Kieli: | eng |
| Tiivistelmä: | This paper questions the presumption that transferable licenses are worth more and result in higher welfare. The authors show that the price of a transferable license may be lower than that of its nontransferable counterpart if the underlying quota is not very severe. However, transferability is preferable to nontransferability if consumer surplus and license revenue have equal weight in the welfare function. The authors also examine whether licenses will be monopolized by domestic producers with market power. |
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