What is it about?
We demonstrate that a type of permit auction in which quantity and price are jointly determined yields more efficient environmental outcomes than taxes on emissions of pollutants.
Featured Image
Why is it important?
The type of auction we describe is easily implementable by regulatory authorities.
Perspectives
This paper is a direct application of Ronald Coase's conclusion that policy choice properly consists of a comparison of the likely outcomes under different institutional frameworks. As such, it is intended as a tribute to Coase as much as a contribution to the analysis of environmental policy.
William Dougan
Clemson University
Read the Original
This page is a summary of: Coase, Hayek, Pigou and Walras: Taxes vs Permit Auctions in Environmental Policy, Man and the Economy, January 2014, De Gruyter,
DOI: 10.1515/me-2014-0021.
You can read the full text:
Contributors
The following have contributed to this page
