Marketable Permits: What's All the Fuss About?

In: Journal of public policy, Band 2, Heft 4, S. 395-411

Abstract

The command & control approach to government regulation of pollution is clearly not working for many problems. While the theoretical case for applying market mechanisms to control pollution as an alternative is persuasive, there are several stumbling blocks. Some key implementation issues that must be addressed in designing a marketable permit scheme are examined. The issues are brought into focus by considering a particular example -- the control of sulfur oxides emission in Los Angeles, Calif. 1 Table, 1 Figure, 11 References. HA.