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Nitrogen Farming in the Mississippi Watershed: A Policy Comparison

Author

Listed:
  • Brian Scott

    (Washington College)

  • Richard M. Peck

    (University of Illinois at Chicago)

  • Carol Tallarico

    (Dominican University)

  • Jill Kostel

    (The Wetlands Initiative)

Abstract

The aim of this study is to evaluate three market models in their ability to support nitrogen removal through a managed wetland market. The unrestricted model allows emitters to buy permits from any wetland, has the lowest abatement cost, and highest environmental damage as defined in this paper. The “backyard” model, requiring emitters to exhaust permit supply in their local wetland area before purchasing permits elsewhere, was more costly and only marginally less environmentally damaging. The penalties model required emitters to obtain extra permits if non-local permits were purchased, and was most costly and least environmentally damaging.

Suggested Citation

  • Brian Scott & Richard M. Peck & Carol Tallarico & Jill Kostel, 2011. "Nitrogen Farming in the Mississippi Watershed: A Policy Comparison," Journal of Economic Insight (formerly the Journal of Economics (MVEA)), Missouri Valley Economic Association, vol. 37(2), pages 1-17.
  • Handle: RePEc:mve:journl:v:37:y:2011:i:2:p:1-17
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    More about this item

    JEL classification:

    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects

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