Reprint No. 175
A Note on Tradeable Permits
A. Denny Ellerman, Environmental & Resource Economics, 31: pp. 123-131, (2005)

This note offers a perspective on whether tradeable permits are a passing fad or an enduring trend. It does so in noting how various types of tradeable permit systems relate to conventional environmental permits, what are the unique requirements of tradeable permit systems, and why they might be preferred to alternative instruments. A final observation concerns the analogy between tradeable permits for environmental goods and private property in land.