
Economic theory and empirical models suggest that economic instruments should help us to meet environmental goals at lower cost. Practical experience, however, shows that the cost savings of emission trading are smaller than expected and charges usually have had small incentive...

Preface. Introduction. I: National Model Studies. 1. Tradable Discharge Permits: Restrictions on Least-Cost Solutions; S.E. Atkinson. 2. Economic Instruments for the Control of Acid Rain in the UK; A. Pototschnig. 3. Modeling Air Pollution Abatement in a Market-Based Incentive...