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.