Add to ORKGThis paper studies the welfare improvement properties of a market of allowances in an economy with a single type of externality. We show that thanks to the opening of such a market the Pareto optima can be decentralized as marginal pricing equilibria. However, the set of equilibria is much larger than this of Pareto optima. In order to discriminate the efficient equilibria we introduce a demand revealing mechanism tailored for this framework.General equilibrium theory, Pareto Optimality, externalities, markets of allowances.
We show that in almost every economy with separable externalities, every competitive equilibrium can...
We study competitive economies with adverse selection and fully exclusive contractual relationships....
We show that in almost every economy with separable externalities, every competitive equilibrium can...
International audienceThis paper studies the welfare improvement properties of a market of allowance...
URL des Documents de travail :http://ces.univ-paris1.fr/cesdp/CESFramDP2007.htmDocuments de travail ...
L’article analyse l’influence de l’ouverture d’un marché de droits, du type permis d'émissions négo...
We propose a general equilibrium analysis of the economic consequences of the opening of new markets...
We consider a pure exchange economy with consumption externalities in preferences. We use the notion...
We study competitive economies with adverse selection and fully exclusive con-tractual relationships...
In an economy with consumption externalities, existing studies find that a competitive equilibrium i...
We study competitive economies with adverse selection and fully exclusive con-tractual relationships...
We consider a general equilibrium economy with public goods and externalities. Following Boyd and Co...
Do Walrasian markets function orderly in the presence of adverse selection? In particular, Is their ...
Do Walrasian markets function orderly in the presence of adverse selection? In particular, Is their...
URL des documents de travail : https://centredeconomiesorbonne.cnrs.fr/publications/Documents de tra...
We show that in almost every economy with separable externalities, every competitive equilibrium can...
We study competitive economies with adverse selection and fully exclusive contractual relationships....
We show that in almost every economy with separable externalities, every competitive equilibrium can...
International audienceThis paper studies the welfare improvement properties of a market of allowance...
URL des Documents de travail :http://ces.univ-paris1.fr/cesdp/CESFramDP2007.htmDocuments de travail ...
L’article analyse l’influence de l’ouverture d’un marché de droits, du type permis d'émissions négo...
We propose a general equilibrium analysis of the economic consequences of the opening of new markets...
We consider a pure exchange economy with consumption externalities in preferences. We use the notion...
We study competitive economies with adverse selection and fully exclusive con-tractual relationships...
In an economy with consumption externalities, existing studies find that a competitive equilibrium i...
We study competitive economies with adverse selection and fully exclusive con-tractual relationships...
We consider a general equilibrium economy with public goods and externalities. Following Boyd and Co...
Do Walrasian markets function orderly in the presence of adverse selection? In particular, Is their ...
Do Walrasian markets function orderly in the presence of adverse selection? In particular, Is their...
URL des documents de travail : https://centredeconomiesorbonne.cnrs.fr/publications/Documents de tra...
We show that in almost every economy with separable externalities, every competitive equilibrium can...
We study competitive economies with adverse selection and fully exclusive contractual relationships....
We show that in almost every economy with separable externalities, every competitive equilibrium can...