Tradable Permits and the Control of Air Pollution in the United States
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چکیده
In 1975 tradable permits were first implemented in the United States to control industrial air pollution. From this rather humble beginning this approach has now been expanded rather dramatically in several different directions. This paper describes this evolution, shows how the design of the system has been adapted as a result of lessons learned from earlier phases, and describes how the latest versions of this approach have transformed the regulatory process which spawned the approach in the first place.
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