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Market Structures for U.S. Water Quality Trading
2002
Review of Agricultural Economics
The use of transferable discharge permits as a water pollution control policy is rapidly increasing in the United States. Drawing on evidence from existing water quality trading programs, this paper provides a taxonomy of the forms that such markets take. Four main structures are identified: exchanges, bilateral negotiations, clearinghouses, and sole-source offsets. Each of these structures has its own strengths and weaknesses; none is optimal for all scenarios. Since market structure is
doi:10.1111/1467-9353.00025
fatcat:qlpxao5svjb6tcveofruv5mg2i