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Composite market design for a Transferable Discharge Permit (TDP) system
University of Gävle, Department of Business Administration and Economics, Ämnesavdelningen för nationalekonomi.
2006 (English)In: Journal of Environmental Planning and Management, ISSN 0964-0568, E-ISSN 1360-0559, Vol. 49, no 6, 929-946 p.Article in journal (Refereed) Published
Abstract [en]

There has been a great deal of interest in addressing water quality issues through the use of Transferable Discharge Permit (TDP) systems. Unfortunately, the attempts to start up permit markets that are able to exploit abatement cost differences between sources have not met with the success expected. Two of the reasons for the lack of success have been the problem of transaction costs and in the case of non-point sources (NPS), undefined property rights. The composite market design is a proposal for a TDP system that specifically includes agricultural non-point source (NPS) discharges and addresses both property rights and transaction cost problems. The composite market consists of three interrelated markets each serving a particular function. The two primary markets are coordinated through price information that makes it possible for a catchment-based authority to issue (sell) permits based on the marginal cost of abatement. When the composite market is mature, the total number of permits issued corresponds to a cap on discharges allowed in the catchment. The structure of the composite market allows this system to be phased in over time with existing institutions and limited demands on financing.

Place, publisher, year, edition, pages
2006. Vol. 49, no 6, 929-946 p.
Keyword [en]
property rights; transaction cost; water economics; water quality
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:hig:diva-2965DOI: 10.1080/09640560600947055Scopus ID: 2-s2.0-33750156188OAI: oai:DiVA.org:hig-2965DiVA: diva2:119627
Available from: 2007-11-28 Created: 2007-11-28 Last updated: 2016-10-30Bibliographically approved

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Collentine, Dennis
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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • harvard-cite-them-right
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • sv-SE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • de-DE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf