haku: @author Tirole, J. / yhteensä: 37
viite: 27 / 37
| Tekijä: | Laffont, J. Tirole, J. |
| Otsikko: | Pollution permits and compliance strategies |
| Lehti: | Journal of Public Economics
1996 : VOL. 62:1/2, p. 85-125 |
| Asiasana: | REGULATIONS ENVIRONMENT INFORMATION DECISION MAKING POLLUTION CONTROL FUTURES MARKETS |
| Kieli: | eng |
| Tiivistelmä: | This paper analyzes the impact of spot and futures markets for tradeable pollution permits on the potential polluters' compliance decisions. Polluters can buy permits, invest in pollution abatement, or else stop production or source out. The authors show that stand-alone spot markets induce excessive investment. The introduction of a futures market reduces this incentive to invest, but is not the optimal way to control pollution. A menu of options on pollution rights, possibly coupled with intertemporally bundled sales, yields higher welfare. |
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