When the Levee Breaks: Can Multi‐Pollutant Markets Break the Dam on Point–Nonpoint Market Participation?

High transaction costs and thin participation plague water quality trading and prevent markets from delivering expected efficiency gains. Little prior work explores the relationship between transactions costs and market performance. We develop a model of point–nonpoint trading that includes transact...

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Veröffentlicht in:	American journal of agricultural economics 2020-03, Vol.102 (2), p.625-640
Hauptverfasser:	Reeling, Carson, Horan, Richard D., Garnache, Cloé
Format:	Artikel
Sprache:	eng
Schlagworte:	Agricultural economics Attraction Contracting Credit stacking Environmental regulations Equilibrium Levees Markets multi‐pollutant trading Nonpoint source pollution Nonpoint sources Participation Plague Pollutants Pollution Pollution abatement Pollution control Pollution sources strategic complementarities Trading Transaction costs Transactions transactions costs Water pollution Water quality
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