منابع مشابه
Market Power in Pollution Permit Markets*
As with other commodity markets, markets for trading pollution permits have not been immune to market power concerns. In this paper, I survey the existing literature on market power in permit trading but also contribute with some new results and ideas. I start the survey with Hahn’s (1984) dominant-firm (static) model that I then extend to the case in which there are two or more strategic firms...
متن کاملOn Pollution Permit Banking and Market Power
We consider a pollution permits market in which there are a large polluting firm plays and a fringe of competitive firms. To smooth compliance towards the longrun emissions goal, firms are initially allocated a stock (i.e., bank) of permits to be gradually consumed. We first show how the large firm can credibly manipulate the spot market in subgame-perfect equilibrium. Motivated by features obs...
متن کاملMarket power in pollution markets
As with other commodity markets, markets for trading pollution permits have not been immune to market power concerns. In this paper, I survey the existing literature on market power in permit trading but also contribute with some new results and ideas. I start the survey with Hahn’s (1984) dominant-firm-fringe static model that I then extend to the case in which there are two or more strategic ...
متن کاملTransactions Costs in Tradable Permit Markets: An Experimental Study of Pollution Market Designs
Many countries have adopted or are considering incentive approaches to environmental regulation, such as tradable permit schemes to control pollution. Regulators influence the success of tradable permit programs by their choice of market rules and permit allocation mechanisms. This paper uses laboratory experiments to study how the transaction costs incurred by participants interact with the in...
متن کاملEndogenous market power in emissions markets
Previous approaches on market power in emissions trading markets rely on the existence of a subset of competitive players. In this paper, I relax this assumption and treat market power as an endogenous concept which depends on the initial allocation of allowances. All parties realize their potential influence on the market price. This approach allows a clear comparative statics of the impact of...
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ژورنال
عنوان ژورنال: The Energy Journal
سال: 2009
ISSN: 0195-6574
DOI: 10.5547/issn0195-6574-ej-vol30-nosi2-6