We extend the analysis of optimal scale in pollution permit markets by allowing for both market power and private information. We characterize the total costs (abatement costs and damages) under market power and private information and compare them to total costs under competition. It is...

To satisfy a growing population, much of Earth's surface has been designed to suit humanity's needs. Although these ecosystem designs have improved human welfare, they have also produced significant negative environmental impacts, which applied ecology as a field has attempted to address and...