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| Author: | Coggins, J. Swinton, J. |
| Title: | The price of pollution: a dual approach to valuing SO2 allowances |
| Journal: | Journal of Environmental Economics and Management
1996 : JAN, VOL. 30:1, p. 58-72 |
| Index terms: | PRICES POLLUTION ALLOWANCES |
| Language: | eng |
| Abstract: | Under the 1992 Clean Air Act Amendments, a market-based scheme to reduce U.S. sulfur dioxide emissions takes effect in 1995. Indications are that participation in the market will be light and allowance prices will be lower than was once expected. Using an output distance function approach, for Wisconsin coal-burning utility plants the authors estimate the shadow price of SO2 abatement, which should approximate the allowance price. The estimated average shadow price is above the prices at which the few observed allowance trades have occurred. |
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