Overview of Observations in Water Quality Trading
After the first American effluent trading schemes arose in the 1980s; the development of effluent trading schemes has been increased, with the Fox River Program in 1981, the Lake Dillon Program in 1982 and the Tar-Pamlico River Basin Program in 1986. A small number of new effluent trading programs arose in the early to mid-nineties. It has only been within the past five-to-ten years that such programs have begun to increase. More recently, trading programs have increased in popularity under an increased (and explicit) regulatory flexibility on the part of the EPA, as laid out in the 1996 Effluent Trading in Watersheds Policy, the 2003 Water Quality Trading Policy. There are approximately 47 effluent trading programs in operation and in developmental stages in the US today (Morgan and Wolverton 2005).
KeywordsPoint Source Transaction Cost Market Structure Nonpoint Source Active Trading
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