Author Description

Market-Based Approaches to Environmental Policy Regulatory Innovations to the Fore Edited by Richard F. Kosobud and Jennifer Zimmerman With the future of regulatory reform much in question, the search is on for more attractive, flexible, and cost-effective ways of meeting regulatory goals. In the area of environmental regulation, a number of experts are focusing on market-based approaches to achieving compliance, exploring the viability of establishing specific economic incentives for producers and consumers to behave in more environmentally responsible ways. Recently, a series of workshops—supported by the MacArthur Foundation and attended by experts from regulatory agencies, the private sector, public interest groups, and academia—were convened to present, debate, and refine workable proposals for market-based schemes to environmental compliance. The papers presented at those workshops, and the discussions they inspired, are the subject of this timely, authoritative volume. Market-Based Approaches to Environmental Policy is divided into four parts: "Market Tools for Green Goals" introduces the theory underlying incentive regulation, and includes a new comprehensive survey of current and potential savings achieved through market-based incentives; "Regulatory Innovations on Trial" analyzes environmental markets under development to control acid rain and urban smog, with discussions of the pros and cons of using tradable permits and allowances (the "cap-and-trade" model) to limit pollution emission; "Regulatory Innovations Awaiting Trial" looks at possible future applications, including a market for controlling global warming, the extended use of green taxes, and a more voluntary, decentralized environmental management structure; "Conclusions: Performance and Prospects for Market-Based Approaches" summarizes the discussions and poses questions for future study. Papers and discussions selected for the book focus primarily on issues pertaining to air pollution—among