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Contract‐Based Trading Programs in Environmental Regulation

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  • Andrew G. Keeler

Abstract

Emissions trading markets have been successful in addressing pollution problems where regulated entities can be treated in a similar manner and precise control of emissions quantities across time and space is not critical. In other situations, trading must account for individual circumstances, complexity, and the patchwork of existing regulations. In these circumstances trading systems have elements of contracts, in that transactions are unique and must be negotiated and approved individually. Such programs imply a high payoff to improved environmental information and to innovations in trading systems that allow making better use of such information. (JEL Q21, Q25, Q28)

Suggested Citation

  • Andrew G. Keeler, 2004. "Contract‐Based Trading Programs in Environmental Regulation," Contemporary Economic Policy, Western Economic Association International, vol. 22(4), pages 526-533, October.
    • Handle: RePEc:bla:coecpo:v:22:y:2004:i:4:p:526-533
    DOI: 10.1093/cep/byh039
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    References listed on IDEAS

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    1. Keeler, Andrew G. & McLemore, Donna, 1996. "The value of incorporating bioindicators in economic approaches to water pollution control," Ecological Economics, Elsevier, vol. 19(3), pages 237-245, December.
    2. Arun S. Malik & David Letson & Stephen R. Crutchfield, 1993. "Point/Nonpoint Source Trading of Pollution Abatement: Choosing the Right Trading Ratio," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(4), pages 959-967.
    3. Polasky Stephen & Solow Andrew R., 1995. "On the Value of a Collection of Species," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 298-303, November.
    4. Dana L. Hoag & Jennie S. Hughes-Popp, 1997. "Theory and Practice of Pollution Credit Trading in Water Quality Management," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 19(2), pages 252-262.
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    More about this item

    JEL classification:

    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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