This paper analyzes the revenue-constrained optimum tariff problem. When a fixed level of tax revenue has to be collected only from tariffs, an efficient resource allocation can not be achieved by any tariff structure. Thus we need to find the optimum tariff structure as the second best resource...

This article has extended the Coase theorem to our environment of incomplete information. We have suggested the existence of efficient trading mechanisms in two alternative information structures.

We conducted an experiment to examine the performance of the bilateral trading institution in GHG emissions trading. First, we found that the efficiency of bilateral trading is quite high, regardless of the disclosure or closure of contracted price and/or marginal abatement cost curve...

We conducted an experiment to examine the performance of the bilateral trading institution in GHG emissions trading. First, we found that the efficiency of bilateral trading is quite high, regardless of the disclosure or closure of contracted price and/or marginal abatement cost curve...

This paper analyzes the revenue-constrained optimum tariff problem. When a fixed level of tax revenue has to be collected only from tariffs, an efficient resource allocation can not be achieved by any tariff structure. Thus we need to find the optimum tariff structure as the second best resource...

This article has extended the Coase theorem to our environment of incomplete information. We have suggested the existence of efficient trading mechanisms in two alternative information structures.