Implications of Search Frictions for Tradeable Permit Markets

Mani Rouhi-Rad, Nicholas Brozovic and Taro Mieno ()
Authors registered in the RePEc Author Service: Mani Rouhi Rad

No 205798, 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California from Agricultural and Applied Economics Association

Abstract: This study develops a framework of search with frictions in the context of tradeable permit markets to explain the trading behavior and search effort of the participants. The study area is the groundwater market of the Twin Platte Natural Resources District, in Nebraska. The results show that overall the market is moving towards Pareto efficiency as irrigation rights are moving from lower value users to higher value users. The results also suggest that quantity of the rights traded affects the search effort of the participants positively.

Keywords: Environmental Economics and Policy; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 37
Date: 2015
New Economics Papers: this item is included in nep-dge, nep-ene and nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea15:205798

DOI: 10.22004/ag.econ.205798

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