Ermoliev, Y.; Michalevich, M.; Nentjes, A. - In: Environmental & Resource Economics 15 (2000) 1, pp. 39-56
This paper discusses trade mechanisms in pollutionpermit markets. Proofs are given, that sequential,bilateral trade in tradeable emissions permitsconverges to a market equilibrium with minimal totalcosts of pollution control. If ambient or depositionpermits are traded, the convergence of...
