One of the alternatives to traditional command-and-control regulation is the use of marketable permits and obligations. Based on the growing record of actual performance of these instruments, this paper provides practical insights into difficult design, implementation, and management issues. It presents a checklist to aid practitioners in assessing when these instruments are preferable to traditional regulatory practices.
Putting Markets to Work
The Design and Use of Marketable Permits and Obligations No. 19
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Public Management Occasional Papers
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