Pollution control by options trading

被引：28

作者：

Unold, W

Requate, T

机构：

[1] Univ Heidelberg, Interdisciplinary Inst Environm Econ, D-69115 Heidelberg, Germany

[2] Siemens Financial Serv GmbH, Munich, Germany

来源：

ECONOMICS LETTERS | 2001年 / 73卷 / 03期

关键词：

options trading; tradeable permits; environmental policy; imperfect information;

D O I：

10.1016/S0165-1765(01)00512-2

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

For pollution control with imperfect information about aggregate abatement costs we propose a combination consisting of free permits and a menu of call options for additional permits with different striking prices. By appropriately choosing permits and corresponding striking prices the regulator can approximate the marginal damage function arbitrarily well. (C) 2001 Elsevier Science B.V. All rights reserved.

引用

页码：353 / 358

页数：6

共 5 条

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ROBERTS, MJ
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