Valuing Tradable Private Rights to Pollute the Public's Air

Review of Accounting and Finance

Volumn 4, Issue 1, 2005, Pages 50-71

  Kosobud, Richard F ^a   Stokes, Houston H ^a   Tallarico, Carol D ^a   Scott, Brian L ^a  

^a UNIVERSITY OF ILLINOIS AT CHICAGO   (United States)

Author keywords

cap and trade markets; correlation and beta coefficients; diversified portfolio; emissions trading; rate of return distributions; sulfur dioxide allowance; Tradable pollution rights

Indexed keywords

EID: 54049119345     PISSN: 14757702     EISSN: 17587700     Source Type: Journal    
DOI: 10.1108/eb043418     Document Type: Review

References (12)

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2. Chicago Board of Trade. 1995. “1994 EPA Allowance Results.” Report of the Chicago Board of Trade, Chicago, Illinois.
3. Clean Air Market Division, US EPA. 2001. “Allowance Trading.” Washington, DC.
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7. Engle, R. E. 1982. “Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation,” Econometrica 50. July: pp.987-1007.
8. Kosobud, R. F., H. H. Stokes and C. D. Tallarico. 2002. “Tradable Environmental Pollution Credits: A New Financial Asset.” The Review of Accounting and Finance. Vol. 1, No. 4. pp.69-88.
9. Kosobud, R. F., H. H. Stokes, C. D. Tallarico and B. L Scott. In process. “Performance of an Urban Cap-and-Trade Market for VOC Emissions Control, 2000 and 2001.”
10. Kruger, J. A., B. J. McLean and R. Chen. 2000. “A Tale of Two Revolutions.” In R. F. Kosobud, Editor, Emissions Trading: Environmental Policy's New Approach. John Wiley & Sons, NY, NY. pp.115-131.
11. Samuelson, Paul. 1965. “Proof that Properly Anticipated Prices Fluctuate Randomly.” Industrial Management Review 6, Spring: pp.41-49.
12. Stavins, R. N. 1998. “What Can We Learn from the Grand Policy Experiment? Positive and Normative Lessons from SO2 Allowance Trading.” Journal of Economic Perspectives. 12(3) summer: pp.69-88.