Emissions Trading

First published in 1985, Emissions Trading was a comprehensive review of the first large-scale attempt to use economic incentives in environmental policy in the U.S. and of the empirical and theoretical research on which this approach is based. Since its publication it has consistently been one of the most widely cited works in the tradable permits literature. The second edition of this classic study of pollution reform considers how the use of transferable permits to control pollution has evolved, looks at how these programs have been implemented in the U.S. and internationally, and offers an objective evaluation of the resulting successes, failures, and lessons learned over the last twenty-five years.

T. H. Tietenberg is the Mitchell Family Professor of Economics at Colby College in Waterville, Maine and the author or editor of eleven books, including Environmental and Natural Resource Economics, one of the best-selling textbooks in the field. He has consulted on environmental policy with the World Bank, the Inter-American Development Bank, the Agency for International Development, and the U.S. Environmental Protection Agency, as well as several state and foreign governments.