In the US the first stage of a federal system of tradeable sulfur allowances started on January 1, 1995. This article assesses the first experiences with the program. The design of the program is set out and contrasted with the earlier EPA (Environmental Protection Agency) emission trading...

Usually public monopoly firms have the task of providing services while covering costs with the revenue from charges paid by users. From the literature it is known that if users take the charge as given, the zero-profit constraint of the public firm results in an inefficient allocation of...