The Greenbrier River watershed in West Virginia suffers from severe algal bloom problems. A combination of hydrological and economic models is used to assess the physical and economic feasibility of generating total phosphorus (TP) credits to offset a proposed TP standard of 0.5mg/l for...

The aim of this paper is to provide a review of policy instruments aimed at controlling pollution from agricultural diffuse sources, and compare their pros and cons. The review also includes a description of instruments introduced through recent reforms of the European Common Agricultural Policy...

This paper examines the relative merits of two dominant economic instruments for reducing pollution—”green” taxes and tradable permits. Theoretically, the two instruments share many similarities, and on balance, neither seems preferable to the other. In practice, however, most countries...