Emissions Trading

RICHARD F. KOSOBUD, PhD, is Professor of Economics at the University of Illinois at Chicago. A former associate dean of the University's Business School and head of the Economics Department, Professor Kosobud has been Director for the University's Workshop on Market-Based Approaches to Environmental Policy since 1992. The workshop presents the work of the country's leading experts and is attended by senior executives, business leaders, policy makers, and top researchers.

INCENTIVE-BASED ENVIRONMENTAL QUALITY CONTROL.

Emissions Trading Emerges from the Shadows (R. Kosobud).

APPRAISING ENVIRONMENTAL POLICY'S NEW APPROACH.

What Do We Really Know about Market-Based Approaches to Environmental Policy?: Lessons from Twenty-Five Years of Experience (R. Stavins).

From Porcopolis to Carbopolis: The Evolution from Pork Bellies to Emissions Trading (W. Nordhaus).

Some Observations on the Evolution of the International Greenhouse Gas Emissions Trading Market (R. Sandor & M. Walsh).

VIEWS FROM THE MARKET DESIGNERS AND ADMINISTRATORS.

Emissions Trading Designs in the OTAG Process (M. Gade & R. Kanerva).

A Tale of Two Revolutions: Administration of the SO_2 Trading Program (J. Kruger, et al.).

AN APPLICATION AT CENTER STAGE: THE PIONEERING NATIONAL CAP-AND-TRADE MARKET TO REDUCE ACID RAIN.

Appraisal of the SO_2 Cap-and-Trade Market (D. Burtraw).

From Autarkic to Market-Based Compliance: Learning from Our Mistakes (A. Ellerman).

AN APPLICATION AT CENTER STAGE: THE PIONEERING REGIONAL CAP-AND-TRADE MARKET TO REDUCE URBAN SMOG.

The RECLAIM Program (Los Angeles' Market-Based) Emissions Reduction Program) at Three Years (J. Lents).

AN APPLICATION AT CENTER STAGE: VOLUNTARY DISCRETE EMISSION REDUCTIONS.

Discrete Emission Reductions Trading: Practical Application in the Connecticut Regulatory Environment (J. Belanger).

A PERSPECTIVE ON EMISSIONS TRADING.

The Significance of Incentive-Based Regulation (M. Moskow).

Acronyms.

Contributors.

Index.