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Published 1982 | public
Book Section - Chapter

Designing a market for tradable emissions permits


The purpose of this chapter is to investigate the practicality of a system of tractable emissions permits. The central issue is not whether a market for emissions permits will work perfectly, but whether it can produce a more efficient combination of emissions and abatement strategies than the traditional regulatory approach. This question is examined in the context of a particular pollutant in a specific area, namely, the control of sulfur oxides (SO) emissions into the atmosphere in Los Angeles. Nevertheless, we believe the analysis to be of general interest. It raises questions that must be answered in order to make a tradable permits system a practical alternative anywhere. It also illustrates the range of institutional arrangements and informational requirements that must be considered in developing a market for permits.

Additional Information

© 1982 Ballinger Publishing Co. The work reported here was supported by the California Air Resources Board. Glen Cass provided useful comments on an earlier draft, and Richard Hanson provided data management support. We are solely responsible for the contents of this chapter. Formerly SSWP 398.

Additional details

August 19, 2023
October 20, 2023