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    題名: The Optimal Distribution of Pollution Rights in the Presence of Political Distortions
    作者: Lai, Yu-Bong
    貢獻者: 財政系
    關鍵詞: auction;grandfathering;interest groups;revenue-recycling effect;tradable emission permits
    日期: 2007.03
    上傳時間: 2014-11-03 14:58:11 (UTC+8)
    摘要: A critical issue in designing a system of tradable emission permits concerns the distribution of the initial pollution rights. The purpose of this paper is to investigate how the initial rights should be optimally set, when the determination of the number of tradable permits is subject to the influence of interest groups. According to the Coase theorem, in the case where there are low transaction costs, the assignment of the initial rights does not affect the efficiency of the final resource allocation. In the presence of political pressure, we show that the distribution of the initial rights has a significant effect on social welfare. In contrast to the conventional results, we find that grandfathered permits may be more efficient than auctioned permits, even after taking into consideration the revenue-recycling effect.
    關聯: Environmental and Resource Economics, 36(3), 367-388.
    資料類型: article
    DOI 連結: http://dx.doi.org/10.1007/s10640-006-9020-4
    DOI: 10.1007/s10640-006-9020-4
    顯示於類別:[財政學系] 期刊論文

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