Transferable Licenses vs. Nontransferable Licences: What Is the Difference?
Kala Krishna () and
Ling Hui Tan ()
Working Papers from Pennsylvania State - Department of Economics
This paper questions the presumption that transferable quota licenses are worth more and result in higher welfare. We show that the price of a transferable license will tend to be higher than of its nontransferable counterpart only if the underlying quota is quite restrictive.
Keywords: ENTERPRISES; PRODUCTION (search for similar items in EconPapers)
JEL-codes: D40 D45 (search for similar items in EconPapers)
Pages: 32 pages
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Working Paper: Transferable Licenses vs. Nontransferable Licenses: What is the Difference? (1996)
Working Paper: Transferable Licenses vs. Nontransferable Licences: What is the Difference?
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pensta:2-96-2
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