This article aims at characterizing the daily price fundamentals of European Union Allowances (EUAs) traded since 2005 as part of the Emissions Trading Scheme (ETS). First, the presence of two structural changes on April, 2006 following the disclosure of 2005 verified emissions and on October,...

This article examines corporate bailouts from several ethical perspectives. Utilitarian analysis concludes that bailouts cannot be ethically justified because the losers exceed the winners. Applying rights theory reaches the same conclusion for different reasons