摘要
排污权交易旨在利用市场机制达到治理成本和效率的优化,是治理环境的一个有效措施。本文尝试利用实物期权理论,将排污权交易视为一种旨在获取利润的投资行为,通过分析在考虑有竞争者不断进入的情况下的排污权期权价值评估模型,利用排污权期权价值的最大化去寻找最佳的排污权购买时机。
Emissions trading designed to use market mechanisms to control costs and optimize the efficiency; it is an effective measure of environmental management. This paper tried to use real options theory; we consider emissions trading as a investment behavior to get profit. Through analysis the option value assessment mode! in considering the adoption of competitors into the circumstances, use maximize the value of the emission permits to find the best time to invest.
出处
《生态经济》
CSSCI
北大核心
2009年第4期75-77,共3页
Ecological Economy
关键词
排污权交易
实物期权
最优停时
emission permits trading
real options
optimal stopping time
