Hostname: page-component-586b7cd67f-t7fkt Total loading time: 0 Render date: 2024-11-24T21:30:14.536Z Has data issue: false hasContentIssue false
  • English
  • Français

Exclusion par manipulation des marchés de permis d'émission

Published online by Cambridge University Press:  17 August 2016

Sonia Schwartz  and
C.A.E. Université Paul Cézanne
Get access

Résumé

Cet article traite de l'exclusion par manipulation des marchés de permis d'émission. Dans un premier temps, nous déterminons la valeur de l'exclusion que le permis représente. Puis, nous définissons la stratégie de surachat des permis et évaluons son impact sur le prix du permis. Nous en tirons alors un certain nombre de conclusions en termes de dotations initiales et de politique économique, après avoir illustré ces résultats par une application numérique.

Summary

Summary

This article examines the exclusionary manipulation effects of a pollution permit market. The exclusion value of a pollution permit and the overbuying strategy are determined. Then, the consequences of the exclusionary manipulation on the permit price are given. We give some economic policy advises as far as initial allocations are concerned.

Keywords

pollution permitpredationinitial allocationQ28D43L42permis d'emissionprédationdotation initialeQ28D43L42
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 73 , Issue 1 , 2007 , pp. 95 - 119
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 2007 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Footnotes

*

L'auteur remercie l'Agence de l'Environnement et de la Maîtrise de l'Énergie pour son soutient financier, les participants aux colloques Sesame d'Aix-en-Provence (2002), JMA de Montpellier (2003) et au congrès de l'AFSE de Paris (2003), ainsi que les rapporteurs anonymes de la revue Recherches Économiques de Louvain.

**

C.A.E. Université Paul Cézanne, Aix-Marseille III, 3 avenue Robert Schuman, 13628 Aix-en-Provence cedex 1, FRANCE. Tel : +334 42 17 29 93. E-mail : [email protected]

References

Références

Bonnieux, F. et Desaigues, B. (1998), Économie et politiques de l’environnement, Précis Dalloz, Sciences Économiques.Google Scholar
Buñuel, M. (2003), “Monopolization of a polluting industry using tradable emission permits”, papier présenté à l’EAERE, Bilbao.Google Scholar
Cason, T.N. (1993), “Seller incentive properties of EPA’s emission trading auction”, Journal of Environmental Economics and Management, 25, pp. 177–195.Google Scholar
Cason, T.N. (1995), “An experimental investigation of the seller incentives in EPA’s emission trading auction”, American Economic Review, 85(4), pp. 905–922.Google Scholar
Cason, T.N. et Plott, C.R. (1996), “EPA’s new emissions trading mechanism : a laboratory evaluation”, Journal of Environmental Economics and Management, 30, pp. 133–160.Google Scholar
Chen, Y.H. et Hobbs, B.F. (2003), “An oligopolistic power market model with tradable NOx permits”, Working Paper de ΓΙΕΕΕ, Department of geography & environmental engineering, Whiting School of Engineering, the Johns Hopkins University, Baltimore.Google Scholar
Dijkstra, B.R. et Haan, M. (2001), “Sellers’hedging incentives at EPA’s emission trading auction”, Journal of Environmental Economics and Management, 41, pp. 286–294.Google Scholar
Godby, R. (1996), An experimental economic examination of market power in emission permit markets, Thèse, McMaster University, Hamilton, Ontario, Canada.Google Scholar
Godby, R. (2000), “Market power and emission trading : theory and laboratory results”, Pacific Economic Review, 5(3), pp. 349–363.Google Scholar
Hahn, R.W. (1984), “Market power and transferable property rights”, Quarterly Journal of Economics, 99(4), pp. 753–765.Google Scholar
Holcombe, R.G. et Meiners, R.E. (1980), “Corrective taxes and auctions of rights in the control of externalities”, Public Finance Quarterly, 9(4), pp. 479–484.Google Scholar
Holcombe, R.G. et Meiners, R.E. (1981), “Corrective taxes and auctions of rights in the control of externalities : a reply”, Public Finance Quarterly, 18(3), pp. 345–349.Google Scholar
Klaassen, G. et Nentjes, A. (1997), “Sulfur trading under the 1990 CAAA in the US : an assessment of first experiences”, Journal of Institutional and Theoretical Economics, 153(2), pp. 384–409.Google Scholar
Kolstad, J. et Wolak, F. (mai 2003), “Using environmental emissions permit prices to raise electricity prices : evidence from the California electricity market”, Working Paper CSEM 113.Google Scholar
Krattenmaker, T.G. et Salop, S.C. (1986), “Anticompetitive exclusion : raising rival’s costs to achieve power over price”, The Yale Law Journal, 96, pp. 209–293.Google Scholar
Kruse, J.B. et Elliott, S.R. (1992), “Strategic manipulation of pollution permit markets:an experimental approach”, Working Paper N°26, Département d’économie, Université du Colorado, Boulder.Google Scholar
Kruse, J.B., Elliott, S.R. et Godby, R. (1995), “Strategic manipulation of pollution permit markets : an experimental approach”, Working Paper N°95–10, Département d’économie, Université du Colorado, Boulder.Google Scholar
Lyon, R.M. (1986), “Equilibrium properties of auctions and alternative procedures for allocating transferable permits”, Journal of Environmental Economics and Management, 13(2), pp. 129–152.Google Scholar
Maloney, M.T. et McCormick, R.E. (1982), “A positive theory of environmental quality regulation”, Journal of Law and Economics, 25, pp. 99–123.Google Scholar
Misiolek, W.S. et Elder, H.W. (1989), “Exclusionary manipulation of markets for pollution rights”, Journal of Environmental Economics and Management, 16(2), pp. 156–166.Google Scholar
Oates, W.E. (1981), “Corrective taxes and auctions of rights in the control of externalities : some further thoughts”, Public Finance Quarterly, 9(4), pp. 471–478.Google Scholar
Salop, S.C. et Scheffman, D.T. (1987), “Cost-Raising strategies”, Journal of Industrial Economics, 36(1), pp. 19–34.Google Scholar
Sartzetakis, E.S. (juin 1994), « Permis d’émission négociables et réglementation dans des marchés de concurrence imparfaite», L’Actualité Économique, Revue d’Analyse Économique, 70(2), pp. 139–157.Google Scholar
Sartzetakis, E.S. (1997), “Raising rivals’costs strategies via emission permits markets”, Review of Industrial Organization, 12(5–6), pp. 751–765.Google Scholar
Svendsen, G.T. et Vesterdal, M. (2003), “CO2 trade and market power in the EU electricity sector”, Working Paper.Google Scholar
Tietenberg, T.H. (1985), Emission trading, Resources for the Future, Washington. D.C. Google Scholar
Von Der Fehr, N.H. (1993), “Tradable emission rights and strategic interaction”, Environmental and Ressource Economics, 3, pp. 129–151.Google Scholar