GOVERNMENT MARKETS AND THE THEORY OF THE NTH BEST

• 成果类型: Article
• 署名作者: HAHN, RW
• 署名单位: Harvard University
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/0047-2727(94)01439-U
• 发表日期: 1995
• 页码: 219-234
• 关键词: GOVERNMENT MARKETS; UTILITIES; regulation; pollution control

摘要

There is increasing interest in having the US government create markets in property rights to allocate various resources, such as landing rights and environmental quality. The purpose of this paper is to provide some general guidelines for the more efficient organization of such markets. The analysis examines the problem of devising efficient government markets when there are multiple inputs to the production process subject to different taxes and regulations. It develops some simple rules of thumb for the design of markets and examines how they can be applied to problems involving regulated utilities.