Markets for tradeable emission and ambient permits: A dynamic approach

Ermoliev, Y.M., Michalevich, M., & Nentjes, A. (2000). Markets for tradeable emission and ambient permits: A dynamic approach. Environmental and Resource Economics 15 (1) 39-56. 10.1023/A:100836961137.

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Abstract

This paper discusses trade mechanisms in pollution permit markets. Proofs are given, that sequential, bilateral trade in tradeable emissions permits converges to a market equilibrium with minimal total costs of pollution control. If ambient or deposition permits are traded, the convergence of bilateral transactions occurs only in the case of a single receptor. For multiple receptors, the proof of convergence for tradeable emissions and ambient permits is given for two trade mechanisms: sequential, multilateral trade and a Walrasian auction.

Item Type:	Article
Uncontrolled Keywords:	Bilateral and multilateral trade; Sequential; Tradeable emission and ambient permits; Walrasian auction
Research Programs:	Risk, Modeling and Society (RMS)
Bibliographic Reference:	Environmental and Resource Economics; 15(1):39-56 (January 2000)
Depositing User:	IIASA Import
Date Deposited:	15 Jan 2016 02:11
Last Modified:	27 Aug 2021 17:37
URI:	https://pure.iiasa.ac.at/5990

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