Emissions trading: principles and practice

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Resources for the Future, 2006 - Science - 233 pages
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. The second edition of this classic study of pollution reform considers how the use of transferable permits to control pollution has evolved over the last twenty-five years.Initially little more than an academic curiosity, the use oftradable permits eventually became the centerpiece of both the U.S. program to control acid rain and the European approach to controlling greenhouse gases. The second edition of Emissions Trading skillfully weaves together a vast amount of theoretical and empirical information, offering a thorough survey of what we have learned about this important environmental policy instrument after twenty-five years of theorizing, conducting empirical research, and evaluating the implementation experience.Intended to appeal bothto academics and practitioners, Emissions Trading outlines what has been learned to date about the appropriate niche for this instrument and identifiesbest practices for the design of effective programs.

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The Conceptual Framework
Figure 21 CostEffectiveness and the Emissions Permit System
The Consequences of Emissions Trading

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About the author (2006)

T. H. Tietenberg is the Mitchell Family Professor of Economics at Colby College in Waterville, Maine and the author or editor of eleven books, including Environmental and Natural Resource Economics, one of the best-selling textbooks in the field. He has consulted on environmental policy with the World Bank, the Inter-American Development Bank, the Agency for International Development, and the U.S. Environmental Protection Agency, as well as several state and foreign governments.

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