Trade and The Environment

Non-anti-hermitian Quaternionic Quantum Mechanics

“…Rigorous mathematical studies are also important. The study of quaternionic multi-particle states have already been conducted [33], and the spectral theorem has also been considered for quaternionic operators [34]. Nevertheless, a rigorous study of the hermiticity of operators whose expectation value is given by (12) is also highly desirable, and are accordingly important directions for future research.…”

Inefficient environmental instruments and the gains from trade

“…Social welfare is defined, for a given emission target e and a given market price P, as the sum of consumer and producer surplus (inclusive of abatement costs) less environmental damages. As in Alpay [1], denote the domestic supply and demand functions by S(P) and D(P), respectively, where the market price is taken parametrically by firms.…”

“…Table 1 illustrates the combinations that obtain in this conceptual matrix and some examples of respective environmental instruments. 1 Emission permits are rigid and can be efficient if tradable. Emissions taxes are efficient but flexible.…”

“…I conclude in the last section. 1 Whether a regulation is efficient or inefficient depends on the nature of the damage function, abatement technologies, market structure, or firm heterogeneity. See Besanko [3] and Helfand [9] for a comparison of efficiency under some CAC instruments.…”

“…For instance, Alpay [1], Nordstrom and Vaughan [15], Van Beers and Van den Bergh [17], Anderson [2], and Krutilla [12,13] consider emission taxes while Copeland [6] and Copeland and Taylor [7] consider both emission taxes and tradable emission permits. Khan [11] considers abatement as a public intermediate input but uses efficient Lindahl pricing.…”