|Title:||Emissions Trading with Profit-Neutral Permit Allocations|
|Authors:||Hepburn, Cameron J.|
Quah, John K.-H.
Ritz, Robert A.
|Publisher:||Faculty of Economics, University of Cambridge, UK|
|Series/Report no.:||CWPE 1235|
|Abstract:||This paper examines the impact of an emissions trading scheme (ETS) on equilibrium emissions, output, price, market concentration, and profits in a generalized Cournot model. We develop formulae for the number of emissions permits that have to be freely allocated to firms to neutralize the profit impact of the ETS. We show that its profit impact is usually limited|
|Appears in Collections:||Cambridge Working Papers in Economics|
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