Stavins, Robert N. “
Decision-Making Tools for Environmental Policy.” In
Proceedings of VI Repsol-Harvard Seminar on Energy Policy, 77–84. S'Agaro, Spain, 1995.
decision_making_tools_for_env_policy.repsol_vi.1995.pdf Stavins, Robert N. “
Harnessing Market Forces to Protect the Environment.” In
Overcoming Indifference: Ten Key Challenges in Today's Changing World: A Survey of Ideas and Proposals for Action on the Threshold of the Twenty-First Century,
edited by Klaus Schwab. New York: New York University Press, 1995.
harnessing_market_forces_to_protect_the_environment.chapter.nyu_press.1995.pdf Stavins, Robert N, and Robert W Hahn. “
Trading in Greenhouse Permits: A Critical Examination of Design and Implementation Issues.” In
Shaping National Responses to Climate Change: A Post-Rio Policy Guide,
edited by Henry Lee, 177–217. Cambridge, Massachusetts: Island Press, 1995.
trading_in_greenhouse_permits.island_press.1995.pdf Stavins, Robert N. “
Transaction Costs and Tradeable Permits.”
Journal of Environmental Economics and Management 29 (1995): 133–148.
Publisher's VersionAbstractTradeable-permit systems are at the center of current interest and activity in market-based reforms of environmental policy, because these systems can offer significant advantages over conventional approaches to pollution control. Unfortunately, claims made for their relative cost-effectiveness have often been exaggerated. Transaction costs, which may be significant in these markets, reduce trading levels and increase abatement costs. In some cases, equilibrium permit allocations and hence aggregate control costs are sensitive to initial permit distributions, providing an efficiency justification for politicians′ typical focus on initial allocations.
transaction_costs_jeem.pdf