Title IV of the 1990 Clean Air Act instituted a nationwide system of tradeable pollution permits for sulfur dioxide emitted by electric power plants. This paper asks: What were the cost savings from using a market-based instrument, rather than a more conventional prescriptive approach? Using an...

This paper analyzes the choice of pollution control techniques by regulated firms, under three policy instruments: emissions standards, emissions taxes, and tradeable permit systems. In this model, heterogeneous firms choose from a menu of abatement techniques, which may include some that have...

Title IV of the 1990 Clean Air Act Amendments introduced a cap-and-trade system for sulfur dioxide emissions from electric power plants in the United States. This paper analyzes the effects of that regulatory change on the prices charged by the two railroads that hauled low-sulfur coal east from...

Financing the transition to low-carbon economic development must be the focus of any framework to encourage developing countries' participation in the global carbon market. It needs to do so with the aim of eventual full participation in carbon markets while maintaining the core market's...

Intro -- About Island Press -- Foundations of Contemporary Environmental Studies -- Title Page -- Copyright -- Contents -- Preface -- Chapter 1: Introduction -- Chapter 2: Economic Efficiency and Environmental Protection -- Chapter 3: The Benefits and Costs of Environmental Protection -- Chapter...

Our analysis melds two traditional approaches to promoting quality. The first is restoring the stock of quality. The second is curbing its flow of deterioration. Although both approaches are widely used in real world settings, analytic models have tended to focus on one strategy or the other. We...

Conventional hedonic techniques for estimating the value of local amenities rely on the assumption that households move freely among locations. We show that when moving is costly, the variation in housing prices and wages across locations may no longer reflect the value of differences in local...

Title IV of the 1990 Clean Air Act instituted a nationwide system of tradeable pollution permits for sulfur dioxide emitted by electric power plants. This paper asks: What were the cost savings from using a market-based instrument, rather than a more conventional prescriptive approach? Using an...