A Cost Evaluation Of Alternative Air Quality Control Strategies

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 U.S. and of the empirical and theoretical research on which this approach is based. 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, looks at how these programs have been implemented in the U.S. and internationally, and offers an objective evaluation of the resulting successes, failures, and lessons learned over the last twenty-five years.

A framework is concisely presented for the economic analysis of pollution problems and for evaluating proposed solutions. The substantial recent literature on environmental economics is reviewed and related to Ontario environmental policy. Topics include the theory of externalities as an explanation of environmental problems, policy objectives, costs of information and monitoring, and the impact of these costs on control policy selection. Three case studies of specific pollution problems – sulphur dioxide from a smelter, lead from downtown factories, and urban automobile emissions – are given, and possible solutions explored. The authors' methodology is applicable not only to air and water pollution but also to noise, aesthetic degradation, and solid waste. This study will be welcomed by specialists, civil servants, and students trying to understand the economic aspects of environmental maintenance.

February issue includes Appendix entitled Directory of United States Government periodicals and subscription publications; September issue includes List of depository libraries; June and December issues include semiannual index