Efficiency and Equity in Interregional Environmental Management

Effectiveness, Efficiency and Equity

Health is perceived as most precious good, and people feel its vulnerability. Societies have been trying to absorb, ameliorate or compensate consequences and health risks with varying emphasis and varying success. Due to the uniqueness of good health to a persons’ ability to live the life he or she wants, health care and performance of health care systems are under critical observation. In this...

Externalities, Efficiency and Equity

Equity and Efficiency in Environmental Markets: Global Trade in Carbon Dioxide Emissions

This chapter addresses a topical issue: the creation of a global market for carbon dioxide (CO2) emission permits.1 The recent adoption in the Kyoto Protocol of an ambitious target for global CO2 emission has focused attention on policy instruments for achieving this goal. In addition, increasing awareness of the economic burden of environmental protection has produced an interest in market-bas...

Equity and Efficiency in Environmental Markets: Global Trade in Co2 Emissions

We study the connection between property rights and Pareto e¢ciency in a competitive market for emission permits when the level of emissions a¤ects utility. Of the in...nitely many ways of distributing a given total of permits between a ...xed number of parties, only a ...nite number can lead to Pareto e¢ciency. We can therefore evaluate alternative distributions of property rights on the use o...

Equity, Efficiency and Increasing Returns