A mechanism for computing an efficient system of wastes emission quotas |
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Authors: | Gerry L Suchanek |
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Institution: | Northwestern University, Evanston, IL 60201, USA |
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Abstract: | Presented is a mechanism that coordinates producers' wastes disposal decisions and consumers' demands for a clean environment. The mechanism imposes emissions' quotas on firms and levies taxes or subsidies on both firms and consumers. It is shown that a competitive equilibrium relative to the mechanism is Pareto optimal, and that the mechanism provides an incentive for each agent to communicate true marginal information in equilibrium. |
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