Quota obligation schemes based on tradable green certificates have become apopular policy instrument to expand power generation from renewable energy sources(RES). Their application, however, can neither be justified as a first-best response toa market failure, nor, in a second-best sense, as an...

Quota obligation schemes based on tradable green certificates have become a popular policy instrument to expand power generation from renewable energy sources (RES). Their application, however, can neither be justified as a first-best response to a market failure, nor, in a second-best sense, as...

Quota obligation schemes based on tradable green certificates have become a popular policy instrument to expand power generation from renewable energy sources (RES). Their application, however, can neither be justified as a first-best response to a market failure, nor, in a second-best sense, as...