Market-based pollution control regulation: Implementing economic theory in the real world

Environmental Policy and Law

Volumn 26, Issue 4, 1996, Pages 177-184

  Raufer, Roger K ^a  

^a UNIVERSITY OF PENNSYLVANIA   (United States)

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EID: 0344415570     PISSN: 0378777X     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (35)

1. J. B. Opschoor and H. B. Vos, "Economic Instruments for Environmental Protection," OECD, Paris, 1989; J. B. Opschoor, A. F. de Savornin Lohman, and H. B. Vos, "Economic Instruments for Environmental Policy; Conclusions, Discussion and Prospects," OECD, Paris, 1994.
2. J. B. Opschoor and H. B. Vos, "Economic Instruments for Environmental Protection," OECD, Paris, 1989; J. B. Opschoor, A. F. de Savornin Lohman, and H. B. Vos, "Economic Instruments for Environmental Policy; Conclusions, Discussion and Prospects," OECD, Paris, 1994.
3. See Jeffrey Taylor, "Global Market in Pollution Rights Proposed by U.N.," Wall Street Journal, January 31, 1992; Marlise Simons," U.N. Group Offers Plan to Control Pollution Through a Quota System," New York Times, February 8, 1992.
4. See Jeffrey Taylor, "Global Market in Pollution Rights Proposed by U.N.," Wall Street Journal, January 31, 1992; Marlise Simons," U.N. Group Offers Plan to Control Pollution Through a Quota System," New York Times, February 8, 1992.
5. Michael Grubb, "The Greenhouse Effect: Negotiating Targets," Royal Institute of International Affairs, London, December, 1989; for a summary of this report, see "International Affairs," 66:1, 1990, pp. 67-89.
6. Michael Grubb, "The Greenhouse Effect: Negotiating Targets," Royal Institute of International Affairs, London, December, 1989; for a summary of this report, see "International Affairs," 66:1, 1990, pp. 67-89.
7. R. M. Alison, "The Earliest Traces of a Conservation Conscience," Natural History, 90:5, May, 1981.
8. T. M. Schmitz, "Pollution, Law, Science and Damage Awards," Cleveland Law Review, 18:3, September 1969. Historians find this of dubious veracity, however. See P. Brimblecombe, "Attitudes and Responses Towards Air Pollution in Medieval England," J. of the Air Pollution Control Assoc., 26:10, October, 1976.
9. T. M. Schmitz, "Pollution, Law, Science and Damage Awards," Cleveland Law Review, 18:3, September 1969. Historians find this of dubious veracity, however. See P. Brimblecombe, "Attitudes and Responses Towards Air Pollution in Medieval England," J. of the Air Pollution Control Assoc., 26:10, October, 1976.
10. M. F. Tunnicliffe, "The Interpretation of 'Best Practical Means'," The Chemical Engineer, March, 1973, pp. 121-124; David Vogel, "Cooperative Regulation: Environmental Protection in Great Britain," The Public Interest, No. 72, Summer, 1983, pp.88-106.
11. M. F. Tunnicliffe, "The Interpretation of 'Best Practical Means'," The Chemical Engineer, March, 1973, pp. 121-124; David Vogel, "Cooperative Regulation: Environmental Protection in Great Britain," The Public Interest, No. 72, Summer, 1983, pp.88-106.
12. Arthus C. Pigou, "The Economics of Welfare," Macmillan & Co., Ltd., London, 1920.
13. J. H. Dales, "Pollution, Property & Prices," Univ. of Toronto Press, 1968.
14. There is now an extensive literature on emissions trading. For a broad economic overview, see Thomas Tietenberg, Emissions Trading: An Exercise in Reforming Pollution Policy, Recources for the Future, Washington, D.C., 1985; and Robert W. Hahn and Gordon L. Hester, "Where Did All the Markets Go? An Analysis of EPA's Emissions Trading Program," Yale Journal on Regulation, Vol. 6, No. 1, Winter, 1989; for a political/historical perspective, see Errol Meidinger, "The Development of Emissions Trading in U.S. Air Pollution Regulation," Chapter 6 in Keith Hawkins and John M. Thomas, Eds., Making Regulatory Policy, University of Pittsburgh Press, 1989, and Brian J. Cook, Bureaucratic Politics and Regulatory Reform: The EPA and Emissions Trading, Greenwood Press, Westport CN, 1988.
15. There is now an extensive literature on emissions trading. For a broad economic overview, see Thomas Tietenberg, Emissions Trading: An Exercise in Reforming Pollution Policy, Recources for the Future, Washington, D.C., 1985; and Robert W. Hahn and Gordon L. Hester, "Where Did All the Markets Go? An Analysis of EPA's Emissions Trading Program," Yale Journal on Regulation, Vol. 6, No. 1, Winter, 1989; for a political/historical perspective, see Errol Meidinger, "The Development of Emissions Trading in U.S. Air Pollution Regulation," Chapter 6 in Keith Hawkins and John M. Thomas, Eds., Making Regulatory Policy, University of Pittsburgh Press, 1989, and Brian J. Cook, Bureaucratic Politics and Regulatory Reform: The EPA and Emissions Trading, Greenwood Press, Westport CN, 1988.
16. There is now an extensive literature on emissions trading. For a broad economic overview, see Thomas Tietenberg, Emissions Trading: An Exercise in Reforming Pollution Policy, Recources for the Future, Washington, D.C., 1985; and Robert W. Hahn and Gordon L. Hester, "Where Did All the Markets Go? An Analysis of EPA's Emissions Trading Program," Yale Journal on Regulation, Vol. 6, No. 1, Winter, 1989; for a political/historical perspective, see Errol Meidinger, "The Development of Emissions Trading in U.S. Air Pollution Regulation," Chapter 6 in Keith Hawkins and John M. Thomas, Eds., Making Regulatory Policy, University of Pittsburgh Press, 1989, and Brian J. Cook, Bureaucratic Politics and Regulatory Reform: The EPA and Emissions Trading, Greenwood Press, Westport CN, 1988.
17. There is now an extensive literature on emissions trading. For a broad economic overview, see Thomas Tietenberg, Emissions Trading: An Exercise in Reforming Pollution Policy, Recources for the Future, Washington, D.C., 1985; and Robert W. Hahn and Gordon L. Hester, "Where Did All the Markets Go? An Analysis of EPA's Emissions Trading Program," Yale Journal on Regulation, Vol. 6, No. 1, Winter, 1989; for a political/historical perspective, see Errol Meidinger, "The Development of Emissions Trading in U.S. Air Pollution Regulation," Chapter 6 in Keith Hawkins and John M. Thomas, Eds., Making Regulatory Policy, University of Pittsburgh Press, 1989, and Brian J. Cook, Bureaucratic Politics and Regulatory Reform: The EPA and Emissions Trading, Greenwood Press, Westport CN, 1988.
18. The acid rain provisions constitute Title IV of the Clean Air Act Amendments of 1990.
19. Roger K. Raufer and Stephen L. Feldman, "Acid Rain and Emissions Trading: Implementing a Market Approach to Pollution Control," Rowman & Littlefield, Totowa, NJ, 1987.
20. For a description of RECLAIM, see National Academy of Public Administration, "The Environment goes to Market: The Implementation of Economic Incentives for Pollution Control," Washington, D.C., July, 1994.
21. Dani Shannon, "Illinois to Establish VOC Emissions-Trading Market," Environ. Sci. & Tech., Vol. 29, No. 6, June, p. 252; "First-of-its Kind VOC Trading," Environmental Manager, Vol. 1, June, 1995, p. 37.
22. Dani Shannon, "Illinois to Establish VOC Emissions-Trading Market," Environ. Sci. & Tech., Vol. 29, No. 6, June, p. 252; "First-of-its Kind VOC Trading," Environmental Manager, Vol. 1, June, 1995, p. 37.
23. The Ozone Transport Region (OTR) was established under Section 184 of the 1990 Amendments to the Clean Air Act. It includes Maine, New Hampshire, Vermont, Massachusetts, Conneticut, Rhode Island, New York, New Jersey, Delaware, Maryland, Pennsylvania, the District of Columbia, and that portion of Virginia included in the Consolidated Metropolitan Statistical Area of Washington, D.C. The "NOx budget" is part of a Memorandum of Understanding (MOU) signed by members of the Ozone Transport Commission (OTC), which contains the Governor (or designated representative) of each OTR state, an air pollution control official representing each state, and EPA regional representatives from the affected regions.
24. 60 FR 39668; Richard E. Ayres, "Developing a Market in Emission Credits Incrementally: An 'Open Market' Paradigm for Market-Based Pollution Control," BNA Environment Reporter Vol. 25, No. 31, December 2, 1994.
25. Clean Air Action Corporation, "Comments of Clean Air Action Corporation on U.S. Environmental Protection Agency's Proposed Open Market Trading Rule for Ozone Smog Precursors," Washington, D.C., October 2, 1995.
26. The Environmental Defense Fund, "The Open Trading Rule: Comments on Proposed Rule," Washington, D.C. October 2, 1995.
27. For a discussion of the types of criteria appropriate for such decisions, see Lester Lave and Howard Gruenspecht, "Increasing the Efficiency and Effectiveness of Environmental Decisions: Benefit-Cost Analysis and Effluent Fees; A Critical Review," Journal of the Air & Waste Management Assoc., May, 1991.
28. See T. H. Tielcnberg, "Transferable Discharge Permits and Global Warming," in The Handbook of Environmental Economics, Daniel W. Bromley (Ed.), Blackwell Publishers, Cambridge, MA, 1995; OECD, Climate Change: Designing a Tradable Permit System, Paris, 1992; David G. Victor, "Limits of Market-Based Strategies for Slowing Global Warming: The Case of Tradable Permits," Policy Sciences, Vol. 24, No. 2, May, 1991; Frederico Neto, "Market-based Mechanisms for Controlling Global Emissions of Greenhouse Gases: Possible Reference Bases for International Agreements," Natural Resources Forum, Vol. 19, No. 3, August, 1995, pp. 179-191; Reinhard Loske and Sebastian Oberthür, "Joint Implementation under the Climate Change Convention," International Environmental Affairs, Vol. 6, No. 1, Winter, 1994, pp. 45-58.
29. See T. H. Tielcnberg, "Transferable Discharge Permits and Global Warming," in The Handbook of Environmental Economics, Daniel W. Bromley (Ed.), Blackwell Publishers, Cambridge, MA, 1995; OECD, Climate Change: Designing a Tradable Permit System, Paris, 1992; David G. Victor, "Limits of Market-Based Strategies for Slowing Global Warming: The Case of Tradable Permits," Policy Sciences, Vol. 24, No. 2, May, 1991; Frederico Neto, "Market-based Mechanisms for Controlling Global Emissions of Greenhouse Gases: Possible Reference Bases for International Agreements," Natural Resources Forum, Vol. 19, No. 3, August, 1995, pp. 179-191; Reinhard Loske and Sebastian Oberthür, "Joint Implementation under the Climate Change Convention," International Environmental Affairs, Vol. 6, No. 1, Winter, 1994, pp. 45-58.
30. See T. H. Tielcnberg, "Transferable Discharge Permits and Global Warming," in The Handbook of Environmental Economics, Daniel W. Bromley (Ed.), Blackwell Publishers, Cambridge, MA, 1995; OECD, Climate Change: Designing a Tradable Permit System, Paris, 1992; David G. Victor, "Limits of Market-Based Strategies for Slowing Global Warming: The Case of Tradable Permits," Policy Sciences, Vol. 24, No. 2, May, 1991; Frederico Neto, "Market-based Mechanisms for Controlling Global Emissions of Greenhouse Gases: Possible Reference Bases for International Agreements," Natural Resources Forum, Vol. 19, No. 3, August, 1995, pp. 179-191; Reinhard Loske and Sebastian Oberthür, "Joint Implementation under the Climate Change Convention," International Environmental Affairs, Vol. 6, No. 1, Winter, 1994, pp. 45-58.
31. See T. H. Tielcnberg, "Transferable Discharge Permits and Global Warming," in The Handbook of Environmental Economics, Daniel W. Bromley (Ed.), Blackwell Publishers, Cambridge, MA, 1995; OECD, Climate Change: Designing a Tradable Permit System, Paris, 1992; David G. Victor, "Limits of Market-Based Strategies for Slowing Global Warming: The Case of Tradable Permits," Policy Sciences, Vol. 24, No. 2, May, 1991; Frederico Neto, "Market-based Mechanisms for Controlling Global Emissions of Greenhouse Gases: Possible Reference Bases for International Agreements," Natural Resources Forum, Vol. 19, No. 3, August, 1995, pp. 179-191; Reinhard Loske and Sebastian Oberthür, "Joint Implementation under the Climate Change Convention," International Environmental Affairs, Vol. 6, No. 1, Winter, 1994, pp. 45-58.
32. See T. H. Tielcnberg, "Transferable Discharge Permits and Global Warming," in The Handbook of Environmental Economics, Daniel W. Bromley (Ed.), Blackwell Publishers, Cambridge, MA, 1995; OECD, Climate Change: Designing a Tradable Permit System, Paris, 1992; David G. Victor, "Limits of Market-Based Strategies for Slowing Global Warming: The Case of Tradable Permits," Policy Sciences, Vol. 24, No. 2, May, 1991; Frederico Neto, "Market-based Mechanisms for Controlling Global Emissions of Greenhouse Gases: Possible Reference Bases for International Agreements," Natural Resources Forum, Vol. 19, No. 3, August, 1995, pp. 179-191; Reinhard Loske and Sebastian Oberthür, "Joint Implementation under the Climate Change Convention," International Environmental Affairs, Vol. 6, No. 1, Winter, 1994, pp. 45-58.
33. A. F. Williams, "Trading Trees for Power Plants," Energy Engineering, Vol. 86, No. 3, 1989, p. 5.
34. Peter Passell, "For Utilities, New Clean-Air Plan," New York Times, Nov. 18, 1994; "Innovative Utility Accord Expected to Reduce Greenhouse Gases and Eliminate Sulfur Dioxide Emissions," Environmental Manager, Vol. 1, January, 1995, p. 33.
35. Peter Passell, "For Utilities, New Clean-Air Plan," New York Times, Nov. 18, 1994; "Innovative Utility Accord Expected to Reduce Greenhouse Gases and Eliminate Sulfur Dioxide Emissions," Environmental Manager, Vol. 1, January, 1995, p. 33.