Preface -- Visions of the future -- The economic approach : property rights, externalities, and environmental problems -- Evaluating trade-offs : benefit-cost analysis and other decision-making metrics -- Valuing the environment : methods -- Dynamic efficiency and sustainable development --...

First published in 1985, Emissions Trading was a comprehensive review of the first large-scale attempt to use economic incentives in environmental policy in the United States; since its publication it has consistently been one of the most widely cited works in the tradable permits literature....