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Title:Environmental policy under ambiguity PDF Logo
Authors:Vinokur, Leon
Issue Date:2009
Series/Report no.:Working Paper // School of Economics and Finance, Queen Mary, University of London 638
Abstract:The aim of this paper is to extend existing literature on carbon allowance allocation, investigating the impact of uncertainty and ambiguity, due to the lack of future Environmental policy, on the total production in the market. Specifically, we show that an increase in uncertainty has no effect on the total output, whereas an increase in ambiguity leads to a decrease in the total output. An output-based allocation model in Cournot Oligopoly will be used. We will adopt the National Allocation Plan (NAP) of UK for the Second Phase (2005-07) as a case study.
Subjects:carbon allowances
permits allocation
EU ETS
uncertainty
JEL:D2
D8
Q4
Document Type:Working Paper
Appears in Collections:Working Paper Series, School of Economics and Finance, Queen Mary, University of London

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