The process of calculating market clearing prices for cap and trade environmental pollution policies dealing with both air and water pollution remains problematic. The permit trading processes are designed to mimic the cost minimisation outcome. In the paper we design the market process for...

Problems of deteriorating water quality and the prospects of large invest ments for treatment facilities have motivated government decision makers to seek more cost-effective means to manage water quality. The most preferred policy advocated by economists is based on economic incentives. But the...

The Illinois River Basin in eastern Oklahoma and northwest Arkansas is an example of a region where significant growth in poultry production has been accompanied by water quality problems. The primary concern in the basin is the problem of phosphorus in runoff that is associated with application...