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Emissions Trading : Principles and Practice

ISBN: 9781933115313 | 1933115319
Edition: 2nd
Format: Paperback
Publisher: ROUTLEDGE
Pub. Date: 2/1/2006

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SummaryTable of ContentsAuthor Biography
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 of tradable permits eventu... MORE
... MORE
Figures and Tables
vii
Prefaceix
Abbreviationsxi
Introduction
1(24)
Early History
2(3)
Describing the Evolution
5(1)
The Evolution of Emissions Trading
6(11)
The Evolution of Design Features
17(4)
An Overview of the Book
21(4)
The Conceptual Framework
25(23)
The Regulatory Dilemma
25(1)
The Cost-Effectiveness Framework
25(2)
Cost-Effective Permit Markets
27(13)
The Role of Transactions Costs
40(2)
The Role of Administrative Costs
42(1)
The Role of Technical Change
43(2)
Summary
45(3)
The Consequences of Emissions Trading
48(27)
The Nature of the Evidence
49(6)
Ex Ante Evaluations: The Evidence
55(5)
Ex Post Evaluations: The Evidence
60(12)
Summary
72(3)
The Spatial Dimension
75(32)
Difficulties in Implementing an Ambient Permit System
75(3)
Possible Alternatives
78(24)
Summary
102(5)
The Temporal Dimension
107(20)
Borrowing, Banking, and the Nature of the Environmental Target
107(1)
Linking Emissions and Pollutant Concentration
108(3)
The Role of Banking and Borrowing
111(4)
Strategies for Controlling Seasonal or Episodic Peaks
115(8)
Summary
123(4)
The Initial Allocation
127(17)
Initial Allocation Approaches
127(4)
Comparing the Allocation Approaches
131(8)
Cost-Effectiveness Implications of the Initial Allocation
139(2)
Summary
141(3)
Market Power
144(21)
Permit Price Manipulation: Conceptual Models
144(6)
Leveraging Power Between Output and Permit Markets
150(2)
Ex Ante Simulations
152(3)
Results from Experimental Studies
155(2)
Mechanisms for Controlling Market Power
157(1)
Programmatic Design Features that Affect Market Power
158(3)
Summary
161(4)
Monitoring and Enforcement
165(23)
The Nature of the Domestic Enforcement Process
165(3)
The Nature of the International Enforcement Process
168(2)
The Economics of Enforcement
170(6)
Current Enforcement Practice
176(7)
Summary
183(5)
Lessons
188(19)
Lessons about Program Effectiveness
188(4)
Lessons about Instrument Choice and Program Design
192(11)
Lessons for Theory-Based Expectations
203(1)
Lessons about Ex Post Evaluation
204(1)
Concluding Comments
205(2)
References207(18)
Index225(8)
About the Author233
T. H. Tietenberg is the Mitchell Family Professor of Economics at Colby College in Waterville, Maine


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