{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2024,7,4]],"date-time":"2024-07-04T04:36:15Z","timestamp":1720067775792},"reference-count":20,"publisher":"Wiley","issue":"5","license":[{"start":{"date-parts":[[2012,6,25]],"date-time":"2012-06-25T00:00:00Z","timestamp":1340582400000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["The Manchester School"],"published-print":{"date-parts":[[2013,9]]},"abstract":"<jats:p>This paper studies inefficiencies arising in oligopolies subject to environmental regulation based on tradable emission permits. We propose a duopoly model of upstream\u2013downstream strategic competition: in the permits market a leader sets the price, whereas in the output market Cournot competition occurs. We find that strategic interaction in the output market gives rise to an additional distortion in the permits market where both firms adopt \u2018rival's cost\u2010rising\u2019 strategies to gain a competitive advantage in the output market. As a result, the price of permits is always higher than firms' marginal abatement costs.<\/jats:p>","DOI":"10.1111\/j.1467-9957.2012.02310.x","type":"journal-article","created":{"date-parts":[[2012,6,26]],"date-time":"2012-06-26T13:12:19Z","timestamp":1340716339000},"page":"780-802","source":"Crossref","is-referenced-by-count":11,"title":["EMISSION PERMITS TRADING AND DOWNSTREAM STRATEGIC MARKET INTERACTION*"],"prefix":"10.1111","volume":"81","author":[{"given":"GIUSEPPE","family":"DE FEO","sequence":"first","affiliation":[]},{"given":"JOANA","family":"RESENDE","sequence":"additional","affiliation":[]},{"given":"MAR\u00cdA EUGENIA","family":"SANIN","sequence":"additional","affiliation":[]}],"member":"311","published-online":{"date-parts":[[2012,6,25]]},"reference":[{"key":"e_1_2_6_2_1","doi-asserted-by":"publisher","DOI":"10.1002\/j.2325-8012.2005.tb00664.x"},{"key":"e_1_2_6_3_1","doi-asserted-by":"publisher","DOI":"10.1016\/S0921-8009(02)00213-6"},{"key":"e_1_2_6_4_1","unstructured":"Brown\u2010Kruse J. Elliot S. R.andGodby R.(1995).\u2018Strategic Manipulation of Pollution Permit Markets: an Experimental Approach\u2019 McMaster University Department of Economics Working Papers 1995\u201003."},{"key":"e_1_2_6_5_1","doi-asserted-by":"publisher","DOI":"10.1109\/TPWRS.2004.840440"},{"key":"e_1_2_6_6_1","doi-asserted-by":"publisher","DOI":"10.1007\/s11149-005-3109-5"},{"key":"e_1_2_6_7_1","doi-asserted-by":"publisher","DOI":"10.1007\/BF00338781"},{"key":"e_1_2_6_8_1","doi-asserted-by":"publisher","DOI":"10.1023\/A:1021263009621"},{"key":"e_1_2_6_9_1","doi-asserted-by":"publisher","DOI":"10.2307\/1883124"},{"key":"e_1_2_6_10_1","volume-title":"Climate Change: the IPCC Scientific Assessment","author":"Houghton J. T.","year":"1990"},{"key":"e_1_2_6_11_1","doi-asserted-by":"publisher","DOI":"10.5547\/ISSN0195-6574-EJ-Vol27-No1-5"},{"key":"e_1_2_6_12_1","unstructured":"Mestelman S.andMuller A.(1997).\u2018What have we Learned From Emissions Trading Experiments?\u2019 McMaster University McMaster Experimental Economics Laboratory Publications 1997\u201303."},{"key":"e_1_2_6_13_1","doi-asserted-by":"publisher","DOI":"10.1016\/0095-0696(89)90006-5"},{"key":"e_1_2_6_14_1","doi-asserted-by":"publisher","DOI":"10.1006\/jeem.2001.1194"},{"issue":"2","key":"e_1_2_6_15_1","doi-asserted-by":"crossref","first-page":"115","DOI":"10.5547\/ISSN0195-6574-EJ-Vol30-NoSI2-6","article-title":"\u2018Market Power in Pollution Permit Markets\u2019","volume":"30","author":"Montero J.\u2010P.","year":"2009","journal-title":"The Energy Journal"},{"key":"e_1_2_6_16_1","doi-asserted-by":"publisher","DOI":"10.1016\/0022-0531(72)90049-X"},{"issue":"1","key":"e_1_2_6_17_1","first-page":"127","article-title":"\u2018Equilibrium Vertical Foreclosure\u2019","volume":"80","author":"Ordover J.","year":"1990","journal-title":"American Economic Review"},{"key":"e_1_2_6_18_1","doi-asserted-by":"publisher","DOI":"10.2307\/1885117"},{"key":"e_1_2_6_19_1","doi-asserted-by":"publisher","DOI":"10.1007\/BF02441370"},{"key":"e_1_2_6_20_1","volume-title":"Emission Permits: Principles and Practice","author":"Tietenberg T. H.","year":"2006"},{"key":"e_1_2_6_21_1","doi-asserted-by":"publisher","DOI":"10.1017\/CCOL0521818737.005"}],"container-title":["The Manchester School"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.wiley.com\/onlinelibrary\/tdm\/v1\/articles\/10.1111%2Fj.1467-9957.2012.02310.x","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/pdf\/10.1111\/j.1467-9957.2012.02310.x","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2024,4,26]],"date-time":"2024-04-26T03:07:14Z","timestamp":1714100834000},"score":1,"resource":{"primary":{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/j.1467-9957.2012.02310.x"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2012,6,25]]},"references-count":20,"journal-issue":{"issue":"5","published-print":{"date-parts":[[2013,9]]}},"alternative-id":["10.1111\/j.1467-9957.2012.02310.x"],"URL":"https:\/\/doi.org\/10.1111\/j.1467-9957.2012.02310.x","archive":["Portico"],"relation":{},"ISSN":["1463-6786","1467-9957"],"issn-type":[{"value":"1463-6786","type":"print"},{"value":"1467-9957","type":"electronic"}],"subject":[],"published":{"date-parts":[[2012,6,25]]}}}