Hung, Nguyen Manh; Sartzetakis, Eftichios Sophocles - In: Journal of Regulatory Economics 13 (1998) 1, pp. 37-46
The present paper examines the effectiveness of emission permits trading across industries. We find that, while permits trading in a competitive environment minimizes costs of compliance, it also enhances product market imperfections. We also find that a standard-setting regulation yields...