EC238 Chapter Notes - Chapter 13: Heat Transfer Coefficient
Document Summary
Like a standard, permits ensure that a target level of pollution is achieved. Like a tax, transferable permits that are traded in a competitive market are a cost-effective policy. Regulators do not have to know each polluter"s mac curve to find the right price that. A transferable emission permit creates a transferable property right to emit a specified amount of pollution. Each permit entitles its holder to emit one unit of the waste specified in the right. Right holders would ordinarily have a number of such permits at any point in time. These discharge permits are transferable; they can be bought and sold among anybody allowed to participate in the permit market, at whatever price is agreed upon by participants themselves. A tep program begins with a specialized decision on the total number of discharge permits to be put into circulation.
