Premium
Achieving Nutrient Water Quality Goals: Bringing Market‐Like Principles to Water Quality Management * 1
Author(s) -
Shabman Leonard,
Stephenson Kurt
Publication year - 2007
Publication title -
jawra journal of the american water resources association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.957
H-Index - 105
eISSN - 1752-1688
pISSN - 1093-474X
DOI - 10.1111/j.1752-1688.2007.00089.x
Subject(s) - water quality , business , incentive , quality (philosophy) , environmental economics , control (management) , emissions trading , pollution , watershed , natural resource economics , computer science , economics , microeconomics , climate change , ecology , philosophy , epistemology , artificial intelligence , biology , machine learning
Market‐like trading programs for water quality management begin with enforceable limits on the amount of the pollutant allowed in a watershed. Properly designed market‐like trading programs then create incentives for dischargers to reduce nutrient control costs over time by making pollution prevention innovations. However, the structure of the Clean Water Act can be a barrier to establishing market‐like trading programs. First, we describe the general features and advantages of market‐like trading programs. Then we offer practical suggestions for bringing market‐like design concepts to nutrient trading programs within the existing legal and regulatory setting.