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Représentation théorique des marchés de permis négociables

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  • Nathalie Berta

    (MATISSE)

Abstract

The question at stake is that of the theoretical representation of marketable permits. The setting up of such markets to regulate pollution problems is justified by constant reference to the efficiency of market coordination. Indeed, Montgomery established in 1972 the existence of an efficient solution - enabling the respect of environmental norms at the lowest cost. Nevertheless, the problem of the exchange process, of prices formation on these markets is generally eluded and efficiency of market coordination is implicitly assumed

Suggested Citation

  • Nathalie Berta, 2004. "Représentation théorique des marchés de permis négociables," Cahiers de la Maison des Sciences Economiques r04042, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:mse:wpsorb:r04042
    as

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    File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2004/R04042.pdf
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    References listed on IDEAS

    as
    1. Montgomery, W. David, 1972. "Markets in licenses and efficient pollution control programs," Journal of Economic Theory, Elsevier, vol. 5(3), pages 395-418, December.
    2. Stavins, Robert N., 2004. "Environmental Economics," Discussion Papers 10841, Resources for the Future.
    3. Joskow, Paul L & Schmalensee, Richard & Bailey, Elizabeth M, 1998. "The Market for Sulfur Dioxide Emissions," American Economic Review, American Economic Association, vol. 88(4), pages 669-685, September.
    4. J. H. Dales, 1968. "Land, Water, and Ownership," Canadian Journal of Economics, Canadian Economics Association, vol. 1(4), pages 791-804, November.
    5. Robert W. Hahn, 1984. "Market Power and Transferable Property Rights," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(4), pages 753-765.
    6. Baumol,William J. & Oates,Wallace E., 1988. "The Theory of Environmental Policy," Cambridge Books, Cambridge University Press, number 9780521322249.
    7. Nathalie BERTA, 2000. "Le marché dans les modèles de Gérard Debreu," Discussion Papers (REL - Recherches Economiques de Louvain) 2000033, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Market; perfect competition; marketable permits; pollution;
    All these keywords.

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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