The Bren School of Environmental Science & Management
at the University of California, Santa Barbara
Presents
A COMMUNITY COLLOQUIUM
"Market Power in Tradeable Quota Markets for Pollution and Fisheries"
Juan-Pablo Montero
Professor of Economics
Pontificia Universidad Católica de Chile
11:30 - 12:30
Bren Hall 1414
"Juan Pablo Montero is one of the world's foremost environmental economists. He has worked on cap- an-trade systems designed to control air pollution and to enhance the effectiveness of other emissions-control efforts. He is visiting the Bren School during the month of February." — Gary Libecap, host
Abstract
There is an increasing use of tradeable quota markets for protecting common resources such as clean air and fisheries. Some of these markets are relatively concentrated because of the presence of a few large firms that could potentially exercise market power either individually or collectively. The talk will cover some of the theory of market power in these quota trading markets and evidence from a couple of cases: fishing quota trading in Chile and pollution trading in the US.
Biography
Juan-Pablo Montero holds a degree in civil engineering degree from PUC
and MSc and PhD degrees from the Massachusetts Institute of Technology.
He has also been a visiting professor at the MIT Sloan School of
Management (2001-2002) and the Harvard Kennedy School of Government
(2005-2006). His research and teaching are concentrated in the areas of
resource and environmental economics and industrial organization. His
work has appeared in the Journal of Political Economy, American
Economic Review, Journal of Economic Theory, RAND Journal of Economics,
The Economic Journal, and others. He has also been a consultant in
antitrust and environmental policy for government agencies and private
corporations in Chile and abroad.
NOTE: Community colloquia are generally talks of broad interest geared toward a diverse, sophisticated audience. Their purpose is not only to enhance knowledge and understanding, but also to bring people together and promote interaction that will strengthen the community.
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