Pricing Negative externalities on coasts through future bond markets

Economics have visualized market mechanism or price system traditionally as efficiency process of exchange of goods and services [9]. According to economical efficiency requires that everyperson bear the full social cost and received full social benefit his action [7]. About private good properties that we will define the mechanism of markets is more well lead to efficiency and optimal resource allocation[6].But in the case of public goods, public resources, such as climate,such as beaches, sea that have public domain and property rights is not well be defined[1] also they are overlapping generation resource[4] therefore the market mechanism can not lead to efficient allocation of resources[7]even Sometime market mechanism can lead to over utilizationof resource and stocks will be empty[6]. On the other hand may this mechanism with negativeexternality such pollution, endanger environment [4] as we perceive .whereas this effects impacton who that are not activity beneficiary in other words creates social costs that polluters are notwilling to pay so their performance through market mechanism therefore market is failure[1] and controlling externality activities is limited uncertainty about social cost then efficiency of mechanisms to control activities with negative externalities is limited by uncertainty about thesocial costs of these activities [7]. Our goal in this article suggest a the price mechanism that social cost resulting fromexternality(such pollution) on the coast , sea and even weather through the internalizing costs to agents that creating social cost then impose costs on causers

کلیدواژه ها:

Pricing ، Externality ، Social Cost ، Bond ، Future Market