The well known economic advantage of tradable permits over command and control obviously vanish if firms do not trade because of policy uncertainty. In fact, uncertainty about changes in the permits program could make firms reluctant to invest in tradable permits. This article proposes to give...

[eng] Optimal resources allocations and selden - Kreps & Porteus' preferences. . This paper studies the optimal resources allocations in a productive economy with constant returns. We consider individuals with Selden - Kreps and Porteus' preferences, this class of preferences includes the case...