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Tradable permits and unrealized gains from trade Public Deposited

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Abstract
  • With the advent of tradable permit programs for bad outputs (e.g., SO₂ emissions); concerns arose over whether the theoretical gains from trade would be realized. We will employ a methodology that calculates the potential gains accruing to coal-fired electric power plants from implementing a tradable permit program. The magnitude of the potential gains in a plant's kilowatt hour output from a tradable permit program relative to its observed production provides insights into the existence of intertemporal allocative inefficiencies and spatial allocative inefficiencies after the implementation of a tradable permit program.
  • KEYWORDS: SO₂ emissions, Joint production model, Tradable permits
  • This is the publisher’s final pdf. The published article is copyrighted by Elsevier and can be found at: http://www.journals.elsevier.com/energy-economics/
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  • Färe, R., Grosskopf, S., & Pasurka Jr, C. A. (2013). Tradable permits and unrealized gains from trade. Energy Economics, 40, 416-424. doi:10.1016/j.eneco.2013.07.015
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  • 40
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