Trading Programs for Environmental Management: Reflections on the Air and Water Experiences
Emission and effluent trading programs are increasingly being advocated for the nationâ€™s air and water quality programs. However important distinctions must be drawn between credit and allowance trading, based on how much decision-making authority is transferred from regulators to dischargers. Credit trading programs are extensions of command-and-control regulation. Allowance trading programs, like markets, decentralize decisions on the means to control discharges and the location of that control. A review of existing trading programs finds allowance trading programs stimulate more aggressive pollution prevention behavior and result in lower compliance costs than credit trading.
|Date of creation:||05 Jan 2002|
|Date of revision:|
|Note:||Paper published as: Shabman, Leonare, Kurt Stephenson, and William Shobe. â€œTrading Programs for Environmental Management: Reflections on the Air and Water Experiences.â€ Environmental Practice 4, no. 3 (September 2002): 153-162.|
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