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Regulatory conflict in the Chicago VOC control program

Author

Listed:
  • Richard Kosobud
  • Joshua Linn
  • Houston Stokes
  • Carol Tallarico

Abstract

The study analyzes the performance of an innovative cap-and-trade program designed to make cost-effective reductions of an ozone precursor in Chicago and finds that decentralized market incentives were undermined by the continuance of centralized traditional emission point or command-and-control regulation. The study makes two contributions for urban areas considering this regulatory measure: it shows that using two regulatory measures to achieve one emissions reduction goal can undercut cost-effective emissions trading, and it provides a redesign of the market system that coordinates both regulatory measures for cost-effective control and avoidance of trading problems, such as hot spots and inter-temporal spikes.

Suggested Citation

  • Richard Kosobud & Joshua Linn & Houston Stokes & Carol Tallarico, 2008. "Regulatory conflict in the Chicago VOC control program," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 51(4), pages 561-579.
    • Handle: RePEc:taf:jenpmg:v:51:y:2008:i:4:p:561-579
    DOI: 10.1080/09640560802117093
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    References listed on IDEAS

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    1. Evans, David A. & Kruger, Joseph A., 2006. "Taking up the Slack: Lessons from a Cap-and-Trade Program in Chicago," RFF Working Paper Series dp-06-36, Resources for the Future.
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    Cited by:

    1. Antonio M. Bento & Emeric Henry & Scott E. Lowe, 2013. "The Determinants of Credit Allocations in a Market-based Trading System: Evidence from the RECLAIM Program," The Review of Regional Studies, Southern Regional Science Association, vol. 43(1), pages 51-80, Summer.

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