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What Can We Learn from the Grand Policy Experiment? Lessons from SO2 Allowance Trading
Abstract
The most ambitious application ever attempted of a market-based approach to environmental protection has been for the control of acid rain under the Clean Air Act amendments of 1990, which established a sulfur dioxide allowance trading program. This essay identifies lessons that can be learned from this grand experiment in economically oriented environmental policy. The author examines positive political economy lessons, asking why this system was adopted from acid-rain control in 1990, and he considers normative lessons that can be learned from the program's structure and performance, focusing on lessons for the design and implementation of future systems.
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Myles, G. D. (1993) · European Journal of Political Economy · doi:10.1016/0176-2680(93)90012-j · Cited by 875
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Allowance price drivers in the first phase of the EU ETS
Hintermann, B. (2010) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2009.07.002 · Cited by 441
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Paying for Ecosystem Services—Promise and Peril
Kinzig, A. P., Perrings, C., Chapin, F. S., Polasky, S., Smith, V. K., Tilman, D., & Turner, B. L. (2011) · Science · doi:10.1126/science.1210297 · Cited by 373
Local Solutions to Global Problems: Climate Change Policies and Regulatory Jurisdiction
Bushnell, J., Peterman, C., & Wolfram, C. (2008) · Review of Environmental Economics and Policy · doi:10.1093/reep/ren007 · Cited by 100
Metadata
- Authors
- Stavins, R. N.
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 1998-08-01
- Volume
- 12
- Issue
- 3
- Pages
- 69-88
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W2156289036
- Cited by
- 725
- References
- 1
- FWCI
- 65.74
- Type
- journal article
- Language
- en
- Open access
- closed
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- Stavins, R. N. (1998). What Can We Learn from the Grand Policy Experiment? Lessons from SO2 Allowance Trading. Journal of Economic Perspectives. https://doi.org/10.1257/jep.12.3.69
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
