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Market Power and Transferable Property Rights
Abstract
The appeal of using markets as a means of allocating scarce resources stems in large part from the assumption that a market will approximate the competitive ideal. When competition is not a foregone conclusion, the question naturally arises as to how a firm might manipulate the market to its own advantage. This paper analyzes the issue of market power in the context of markets for transferable property rights. First, a model is developed that explains how a single firm with market power might exercise its influence. This is followed by an examination of the model in the context of a particular policy problem—the control of particulate sulfates in the Los Angeles region.
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Cites
Coase, R. H. (1960) · The Journal of Law and Economics · doi:10.1086/466560 · Cited by 18,255
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Policy and praxis of land acquisition in China
Ding, C. (2007) · Land Use Policy · doi:10.1016/j.landusepol.2005.09.002 · Cited by 411
Dechezleprêtre, A., Nachtigall, D., & Venmans, F. (2023) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2022.102758 · Cited by 416
Free trade and global warming: a trade theory view of the Kyoto protocol
Copeland, B. R., & Taylor, M. S. (2005) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2004.04.006 · Cited by 357
Martin, R., Muûls, M., de Preux, L. B., & Wagner, U. J. (2014) · American Economic Review · doi:10.1257/aer.104.8.2482 · Cited by 333
Metadata
- Authors
- Hahn, R. W.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1984-11
- Volume
- 99
- Issue
- 4
- Pages
- 753
- ISSN
- 0033-5533 (ISSN-L)
- OpenAlex
- W2011854210
- Cited by
- 700
- References
- 1
- FWCI
- 4.52
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
