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The use of Permit Markets for Incorporating Source Location: the Case of Acid Rain in Europe

Author

Listed:
  • Steiner, U.
  • Svendsen, G. T.

Abstract

The paper shows that cost-effective involvement of the source location involves utmost difficulty in practice. Based on the RAINS model, it is recommended that source location should be ignored in a European market for SO2, as is the case in the U.S. Acid Rain Program. The RAINS-model predicts a cost-saving of 37 percent but an average loss of 2 percent in ecological protection. To overcome this reduction in protection, we recommend that some of the large cost-savings should be reallocated in further overall reduction and that the countries suffering the most from introducing the permit-market should be compensated by receiving extra permits in the initial distribution.

Suggested Citation

  • Steiner, U. & Svendsen, G. T., 1997. "The use of Permit Markets for Incorporating Source Location: the Case of Acid Rain in Europe," Papers 97-10, Aarhus School of Business - Department of Economics.
    • Handle: RePEc:fth:aascbu:97-10
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    More about this item

    Keywords

    ENVIRONMENT;

    JEL classification:

    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law

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