Taking account of sinks credits as agreed in Bonn and Marrakech, this paper illustrates how market power could be exerted in the absence of the US ratification under Annex 1 trading and explores the potential implications of the non-competitive supply behavior for the international market of...

In this paper a discrete choice model is suggested which generates unambiguously lower prices, if oligopolists discriminate by price. In a setting of two groups of consumers and two firms this is due to a different ranking of the elasticity of demand of the two groups by the two firms. Here,...