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|a (DE-627)JST133665577
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|a (JST)26544551
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|a DE-627
|b ger
|c DE-627
|e rakwb
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|a eng
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|a Lechthaler-Felber, Giulia
|e verfasserin
|4 aut
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|a Quota Markets and Technological Change
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|c 2017
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|a Text
|b txt
|2 rdacontent
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|a Computermedien
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|a Quota or permit markets have become an important tool for climate and energy policy, as they not only promise allocative efficiency but also provide a market based selection of the best new technological options. We analyze their effect on technological change in a case where several technologies could be developed and where R&D firms are granted patents with a finite lifetime. We show that R&D incentives are not only too low, as is well known, but incentives are also distorted across technologies, which is a new result. Compared to the social optimum, the best technology is developed in too few cases, whereas a less promising technology might be developed too often. This distortion is difficult to correct, as information about new technologies is usually missing. However, we show that combining a quota market with a simple tax-subsidy scheme can correct some of these distortions, even if the regulator has no information regarding the properties of new technologies.
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|a © 2017 by The Association of Environmental and Resource Economists
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|a H23
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|a Q38
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|a Q55
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|a Climate change
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|a Investment
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|a Promotion of renewable energy
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|a Quota markets
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|a R&D
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|a Technological change
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|a Technological lock-in
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|a Tradable permits
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|a research-article
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|a Krysiak, Frank C.
|e verfasserin
|4 aut
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|i Enthalten in
|t Journal of the Association of Environmental and Resource Economists
|d The University of Chicago Press, 2014
|g 4(2017), 4, Seite 1199-1228
|w (DE-627)812497295
|w (DE-600)2802803-X
|x 23335963
|7 nnns
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| 773 |
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|g volume:4
|g year:2017
|g number:4
|g pages:1199-1228
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|u https://www.jstor.org/stable/26544551
|3 Volltext
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|d 4
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