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Simulated Trading for Maryland's Nitrogen Loadings in the Chesapeake Bay

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  • Hanson, James C.
  • McConnell, K. E.

Abstract

We investigate nutrient trading for point and non-point sources for the Bay Restoration Fund in Maryland. We demonstrate how to use the proceeds from the tax revenue to mimic a market by trading high-cost upgrades of sewage treatment plants for low-cost winter cover crops. Under an optimistic assumption about costs for non-point sources and naïve assumptions about the lag from planting cover crops to changes in nitrogen load, we calculate that 100 percent of abatement could be achieved at 56 percent of total costs, while in a pessimistic scenario, 100 percent of abatement could be could be achieved at 83 percent of total costs.

Suggested Citation

  • Hanson, James C. & McConnell, K. E., 2008. "Simulated Trading for Maryland's Nitrogen Loadings in the Chesapeake Bay," Agricultural and Resource Economics Review, Cambridge University Press, vol. 37(2), pages 211-226, October.
    • Handle: RePEc:cup:agrerw:v:37:y:2008:i:02:p:211-226_00
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    Cited by:

    1. Stephenson, Kurt & Aultman, Stephen & Metcalfe, Todd & Miller, Alex, 2009. "An Evaluation of Nutrient Trading Options in Virginia: A Role for Agriculture?," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46779, Southern Agricultural Economics Association.
    2. Movafaghi, Olivia S. & Stephenson, Kurt & Taylor, Daniel, 2013. "Farmer Response to Nutrient Credit Trading Opportunities in the Coastal Plain of Virginia," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150414, Agricultural and Applied Economics Association.
    3. Duke, Joshua M. & Liu, Hongxing & Monteith, Tyler & McGrath, Joshua & Fiorellino, Nicole M., 2020. "A method for predicting participation in a performance-based water quality trading program," Ecological Economics, Elsevier, vol. 177(C).

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