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Lessons about Effluent Trading from a Single Trade

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  • Richard T. Woodward

Abstract

Despite many years of existence, programs that allow transferable discharge permits to control water pollution have had quite limited success. This paper discusses a single trade that recently took place in the Lake Dillon drainage basin between point and nonpoint pollution sources. This trade demonstrates many of the challenges that are faced in effluent trading but also highlights the potential efficiency gains that can be achieved through such programs.

Suggested Citation

  • Richard T. Woodward, 2003. "Lessons about Effluent Trading from a Single Trade," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 25(1), pages 235-245.
    • Handle: RePEc:oup:revage:v:25:y:2003:i:1:p:235-245.
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    File URL: http://hdl.handle.net/10.1111/1467-9353.00056
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    References listed on IDEAS

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    1. Baumol,William J. & Oates,Wallace E., 1988. "The Theory of Environmental Policy," Cambridge Books, Cambridge University Press, number 9780521311120.
    2. Baumol,William J. & Oates,Wallace E., 1988. "The Theory of Environmental Policy," Cambridge Books, Cambridge University Press, number 9780521322249.
    3. Ribaudo, Marc & Horan, Richard D. & Smith, Mark E., 1999. "Economics of Water Quality Protection from Nonpoint Sources: Theory and Practice," Agricultural Economic Reports 33913, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Deane, Felicity & Wilson, Clevo & Rowlings, David & Webb, Jeremy & Mitchell, Elaine & Hamman, Evan & Sheppard, Eva & Grace, Peter, 2018. "Sugarcane farming and the Great Barrier Reef: the role of a principled approach to change," Land Use Policy, Elsevier, vol. 78(C), pages 691-698.
    2. Suzi Kerr, 2013. "Managing Risks and Tradeoffs Using Water Markets," Working Papers 13_13, Motu Economic and Public Policy Research.
    3. Hugh McDonald & Suzi Kerr, 2011. "Trading Efficiency in Water Quality Trading Markets: An Assessment of Trade-Offs," Working Papers 11_15, Motu Economic and Public Policy Research.
    4. Madeline Duhon & Suzi Kerr, 2015. "Nitrogen Trading in Lake Taupo: An Analysis and Evaluation of an Innovative Water Management Policy," Working Papers 15_07, Motu Economic and Public Policy Research.
    5. Meyer, Andrew G. & Raff, Zach, 2022. "Pass-through of water pollution regulation: Evidence from sewer utility bills and Wisconsin's phosphorus rule," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322444, Agricultural and Applied Economics Association.
    6. Call, Isabel L. & Lew, Daniel K., 2015. "Tradable permit programs: What are the lessons for the new Alaska halibut catch sharing plan?," Marine Policy, Elsevier, vol. 52(C), pages 125-137.
    7. Galik, Christopher S. & Olander, Lydia P., 2018. "Facilitating markets and mitigation: A systematic review of early-action incentives in the U.S," Land Use Policy, Elsevier, vol. 72(C), pages 1-11.
    8. McDonald, Hugh J. & Kennedy, Marianna & Ngawhika, Simon & Kerr, Suzi, 2010. "Trading efficiency in water quality markets," 2010 Conference, August 26-27, 2010, Nelson, New Zealand 96949, New Zealand Agricultural and Resource Economics Society.
    9. Andrew Manale & Cynthia Morgan & Glenn Sheriff & David Simpson, 2011. "Offset markets for nutrient and sediment discharges in the Chesapeake Bay Watershed: Policy tradeoffs and potential steps forward," NCEE Working Paper Series 201105, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Aug 2011.
    10. Stephenson, Kurt & Bosch, Darrell J., 2003. "Nonpoint Source And Carbon Sequestration Credit Trading: What Can The Two Learn From Each Other?," 2003 Annual meeting, July 27-30, Montreal, Canada 22229, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. Greenhalgh, Suzie & Selman, Mindy, 2012. "Comparing Water Quality Trading Programs: What Lessons Are There To Learn?," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 42(2), pages 1-22.

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