Market power in an exhaustible resource market: The case of storable pollution permits.

Motivated by the structure of existing pollution permit markets, we study the equilibrium path that results from allocating an initial stock of storable permits to an agent, or a group of agents, in a position to exercise market power. A large seller of permits exercises market power no differently...

Full description

Bibliographic Details

Published in:	Economic Journal Vol. 121; no. 551; pp. 116 - 145
Main Authors:	Liski, Matti, Montero, Juan-Pablo
Format:	Article
Published:	Wiley-Blackwell March 2011
Subjects:	Market power Government policy on pollution Mathematical models Licenses Resource allocation > Mathematical models Economic equilibrium
Online Access:	View this record in EBSCOhost