期刊
JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT
卷 79, 期 -, 页码 70-86出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jeem.2015.04.005
关键词
Multiple inputs and outputs; Quotas; Rationing; Virtual quantities; Virtual prices; Cap-and-trade; Elasticity of intensity; Common resources; Malaysia
资金
- NOAA Fisheries
The theory of virtual quantities, the dual to virtual prices, provides a framework to analyze competitive multiproduct firm behavior under multiple quantity controls on inputs and outputs, including command-and-control quotas and transferable property rights. The framework addresses the firm's reactions to regulatory controls, impacts of adding or dropping quantity controls, inferring unrationed from rationed production, and conversion from command-and-control quotas to cap-and-trade systems with transferable property rights and secondary market behavior. The paper develops reasons for failure of quasi-concavity of technology, extends the elasticity of intensity's properties, and integrates the virtual price and virtual quantity frameworks. Virtual quantities are applied to assess potential firm responses to quantity controls and a potential transferable property right in a Malaysian fishery. Published by Elsevier Inc.
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