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The Role of Futures Markets for the Design and Performance of Incentive Based Environmental Policy: A Study of the Sulfur Financial Instrument and European Union Allowance


Abstract This dissertation outlines the role that futures markets for tradable permits can play in improving the performance of incentive based policies for environmental externalities. An extensive literature on tradable permits exists. However, to my knowledge, the role of futures contracts as an instrument for responding to permit price uncertainty has not been considered, nor has their pricing performance in this role been examined. This research provides a theoretical description of how futures can be used to manage the price uncertainty associated with permit purchases. It then evaluates if the futures contract performance for the former U.S. Sulfur Dioxide (SO2) and the existing EU Carbon Dioxide (CO2) futures markets are consistent with ... (more)
Created Date 2015
Contributor Lewis, Daniel (Author) / Manfredo, Mark R. (Advisor) / Smith, V. Kerry (Advisor) / Schmitz, Troy G. (Committee member) / Arizona State University (Publisher)
Subject Environmental economics / Economics
Type Doctoral Dissertation
Extent 221 pages
Language English
Copyright
Reuse Permissions All Rights Reserved
Note Doctoral Dissertation Business Administration 2015
Collaborating Institutions Graduate College / ASU Library
Additional Formats MODS / OAI Dublin Core / RIS


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Description Dissertation/Thesis