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Markets for Clean Air by A. Denny Ellerman
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A comprehensive description and evaluation of the first three years of the U.S. Acid Rain Program. This environmental control program is the world's first large-scale use of a tradeable emission permit system for achieving environmental goals. The book analyzes the behavior and performance of the market for emissions permits, known as allowances, and quantifies emission reductions, compliance costs, and cost savings associated with the trading program. The book also includes chapters on the historical context in which this pioneering program developed and the political economy of allowance allocations. Finally, the book discusses the program's successes, its weaknesses, and the lesson learned regarding application of the emissions-trading approach to controlling other types of emissions, including greenhouse gases. The volume is an indispensable addition to the library of all interested in the application of marker principles for meeting environmental goals.
Cambridge University Press; June 2000
386 pages; ISBN 9780511836640
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Title: Markets for Clean Air
Author: A. Denny Ellerman; Paul L. Joskow; Richard Schmalensee; Juan-Pablo Montero; Elizabeth M. Bailey
 
ISBNs
0511836643
9780511836640
9780521660839